Northern Superior Provides Notice of Annual General Meeting - Seite 2

On October 19, 2023, the board of directors of the Company, excluding those directors holding Impacted Options, approved a resolution to extend the terms of the Impacted Options to coincide with the original expiry date(s) of the corresponding Royal Fox options (the "Proposed Option Extension").

At the Meeting, shareholders of the Company excluding officers and directors holding Impacted Options will be asked to approve an ordinary resolution approving the Proposed Option Extension. For a breakdown of the Impacted Options held by each officer and director, please refer to the Company's management information circular available on SEDAR+ (www.sedarplus.ca) under the Company's profile. The Proposed Option Extension is deemed to be "related party transactions" as defined under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the formal valuation and minority approval requirements for related party transactions pursuant to Subsection 5.5(b) and Subsection 5.7(a) of MI 61-101, respectively.

About Northern Superior Resources Inc.

Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company has consolidated the largest land package in the region, with total land holdings currently exceeding 62,000 hectares. The main properties include Philibert, Lac Surprise, Chevrier and Croteau. Northern Superior also owns significant exploration assets in Northern Ontario highlighted by the district scale TPK Project.

The Philibert Project is located 9 km from IAMGOLD Corporation's Nelligan Gold project which was awarded the "Discovery of the Year" by the Québec Mineral Exploration Association (AEMQ) in 2019. Philibert host a new maiden 43-101 inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces of Au^[1]. Northern Superior holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by SOQUEM, and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au.^[2] Croteau hosts an inferred mineral resource of 640,000 ounces Au.^[3] Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Deposit.