Several remarkable gold-bearing intersections were intercepted in diamond drilling completed prior to Christmas, 2011.

The Croteau Est property consists of drill ready targets including the known Croteau Est showing and the new Patrick and Dede gold showings. These showings are located within highly deformed and altered (ankeritized, sericitized, quartz veined and pyritized) basalt. Grab samples collected from these showings returned values of up to 15 g/t gold. These showings occur within major east-west structures south of the Faribault Fault which may be associated with the Gwillim Mine located 8.0 km to the east. The Croteau Est gold property ties onto the Gwillim Mine property.

Northern Superior Resources Inc. (Northern Superior) signed a formal option agreement with GL Services Inc. and Marc
Bouchard of Chapais (the Optionors), Québec on August 24th, 2011 to earn a 100% interest in the Croteau Est property, west-central Québec.

To acquire 100% of this property, Northern Superior must meet the following obligations:

a) spending an aggregate of $1.7 million on exploration of the property over four years: $200,000 in year 1; $300,000 in year 2; $400,000 in year 3; and $800,000 in year 4;

b) making cash payments to the Optionors totaling $350,000: $35,000 upon signing the Letter of Intent (completed); $35,000 by the end of year 1; $40,000 by the end of year 2; $80,000 by the end of year 3; and $160,000 by the end of year 4;

c) issue to the Optionors $280,000 worth of common shares of the Company: $40,000 at the end of year 2; $80,000 by the end of year 3; and $160,000 by the end of year 4. The number of common shares issuable shall be based on the market price of the Company’s shares at the time of issuance.

Northern Superior retains the right to accelerate any of the obligations.

Upon exercise of the option, the Optionors shall retain a 1% NSR on any commercial production with Northern Superior having the right to buyback 0.5% of the NSR for $1.5 million, at any time. The parties have agreed that any further claims that are staked within 1.5 km of the property will form part of the option and any production therefrom shall be subject to the NSR.

2011 

Exploration Highlights

Exploration evolved rapidly on the Croteau Est gold property this summer largely due to the relatively easy access afforded to the property through forestry roads. Several remarkable gold-bearing intersections were intercepted in diamond drilling completed prior to Christmas, 2011.

a) Signed an option agreement to acquire 100% of the Croteau Est property (see press release, August 24, 2011);

b) Completed first phase prospecting, trenching and channel sampling, bedrock mapping, ground geophysics, reported channel sample assays of 92.57 g/t gold over 1 m (or 12.8 g/t gold over 7.9 m; see press release October 10, 2011) and 1.9 g/t gold over 33.8 m (see press release September 21, 2011);

c) Completed a 1,271 line kilometre heliborne airborne total field magnetic and gradient survey;

d) Initiated a 5,000 m diamond drill program (see press release December 5, 2011);

e) Reported visible gold in two of the first eight holes completed prior to 2011 year end (see press release December 19, 2011); and 

f) Intersected significant gold-bearing shear zones highlighted by assays that included 12.74 g/t gold over 5.85 m: 170.15–176 m; 12.76 g/t gold over 8.75 m: 181.75–190.5 m; and 3.05 g/t gold over 3.0 m: 240.7–243.7 m).

2012 OUTLOOK

a) Completion of a 20–25 hole, 5,000 m diamond drill program, 2nd Quarter 2012;

b) Complete a prospecting, mapping, overburden sampling and ground geophysical program, 3rd and 4th Quarters 2012; and

c) Plan for a diamond drill program, 4th Quarter 2012.