Northern Superior Discovers High-Grade Gold Beneath Existing Open Pit at Philibert

• Northern Superior reported 21.6 metres at 4.82 g/t Au including 7.0 metres at 11.86 g/t Au, plus 22.2 metres at 2.09 g/t Au including 10.0 metres at 3.54 g/t Au at Philibert
• High-grade mineralization located directly beneath existing open-pit resource, enabling phased development with improved economics
• Northern Superior and IAMGOLD now control 12.4 million ounces across the Chibougamau Gold Camp, positioning for hub-and-spoke optimization
• Simple processing with 93-95% recovery rates supports camp-wide optimization strategy
• Strong gold prices ($3,400) and major company momentum create favorable environment for camp development

Northern Superior Resources (TSXV: SUP) has delivered what CEO Simon Marcotte describes as "probably the best drilling results we've seen at our flagship project, Philibert." 

It marked a significant milestone in the company's strategy to consolidate and advance the Chibougamau Gold Camp in Quebec. The latest results reveal high-grade underground mineralization directly beneath the existing open-pit resource, fundamentally changing the project's development profile and economic potential.

Exceptional Drilling Results Drive Underground Discovery

The company's latest drilling campaign has intersected remarkable grades that significantly exceed previous results. Drill hole PB-25-498 returned 21.6 metres at 4.82 g/t Au, including an exceptional 7.0 metres at 11.86 g/t Au, while PB-25-501 delivered 22.2 metres at 2.09 g/t Au, including 10.0 metres at 3.54 g/t Au. These results extend a new high-grade discovery zone over 200 metres of strike length with more than 150 metres of vertical extent. Marcotte explained during a recent interview:

"I think it's safe to say we now have a high-grade mineralization under Philibert, which by the way is not unusual for the area."

The discovery is particularly significant because it's located entirely outside the current resource envelope of 1.71 million ounces at 1.1 g/t Au (Inferred) and 279,000 ounces at 1.1 g/t Au (Indicated). This positioning creates substantial blue-sky potential for resource expansion while maintaining the integrity of the existing open-pit development plan.

Strategic Value of Underground-Beneath-Open-Pit Configuration

The location of this high-grade mineralization represents what Marcotte considers an optimal development scenario. Unlike standalone underground projects that require significant upfront capital for shaft development, this configuration allows for sequential mining that generates cash flow during the transition to underground operations.

"If it's under an open pit, then you mine the open pit first and then you access the high-grade with a ramp. So in other words, you're making money while accessing the high-grade at depth."

This phased approach effectively creates what he describes as "negative capex" for the underground component, as revenue from open-pit operations funds the transition to deeper mining.

The strategic importance of this configuration becomes even more apparent when considering comparable projects. Marcotte referenced Agnico Eagle's Detour mine, where the discovery of underground mineralization beneath the open pit led management to describe it as having the potential to "transform Detour into one of the top five gold mines in the world by output."

Interview with President & CEO, Simon Marcotte

Camp Consolidation Creates Optimization Opportunities

Northern Superior's broader strategy centers on consolidating the Chibougamau Gold Camp, which now contains 12.4 million ounces of defined resources split between Northern Superior and IAMGOLD. This consolidation, achieved through strategic acquisitions including Genesis Metals and Royal Fox Gold, creates opportunities for operational optimization that were previously impossible with fragmented ownership.

"By consolidating these ounces we're making them more viable, therefore we're making these ounces more valuable."

The company envisions a hub-and-spoke strategy where multiple deposits feed a single processing facility, leveraging the simple metallurgy that characterizes the camp.

The timing of this consolidation appears strategic, coinciding with IAMGOLD's progress at Côté Gold Mine in Ontario.  Marcotte predicts that IAMGOLD's attention will shift to their Quebec assets once their flagship Ontario project stabilizes.

Proven Metallurgy Supports Processing Strategy

One of Northern Superior's key advantages lies in the consistent metallurgy across the camp. The company reports 93-95% recovery rates with simple processing requirements, which supports the optimization strategy across multiple deposits. 

"Our metallurgy has been responding very well. It's a very simple metallurgy at Philibert which again allows for optimizing the camp."

This metallurgical consistency enables the company to pursue a value-maximizing approach by prioritizing higher-grade, easily processed material in early production phases. Such sequencing can significantly reduce payback periods and improve overall project economics across the consolidated camp.

Exploration Pipeline Maintains Growth Trajectory

Beyond the immediate results at Philibert, Northern Superior maintains an active exploration pipeline across its 62,000-hectare land package. The company completed 20,000 metres of drilling in its winter program - a substantial effort for a company of its size - and continues to expand both the southeast extension at Philibert and develop the northwestern areas.

"We also have Chevrier and Croteau, both of which have very respectful grade between one and two grams a ton for these resources. Both of these systems are huge which provide an enormous amount of blue sky potential to keep building ounces." 

The Lac Surprise project, interpreted as the western extension of IAMGOLD's Nelligan project, provides additional exploration upside. This strategic positioning allows Northern Superior to benefit from IAMGOLD's ongoing development work while pursuing independent discovery opportunities.

The Investment Thesis for Northern Superior Resources

• High-grade underground discovery beneath existing open-pit resource creates optimal development sequence with improved economics and reduced risk profile
• Strategic positioning in consolidating Chibougamau Gold Camp with 12.4 million ounces between Northern Superior and IAMGOLD enables hub-and-spoke optimization
• Proven metallurgy with 93-95% recovery rates across simple processing requirements supports camp-wide operational efficiency
• Substantial exploration upside across 62,000-hectare land package with multiple discovery vectors including Philibert extensions, Chevrier, Croteau, and Lac Surprise
• Favorable market timing with strong gold prices and IAMGOLD momentum creating spotlight on Quebec camp as Côté Gold Mine stabilizes
• Management team with clear consolidation strategy and track record of value-creating acquisitions in targeted camp
• Proximity to established infrastructure and experienced regional workforce reduces development risks and capital requirements

Macro Thematic Analysis

The Chibougamau Gold Camp represents a rare opportunity in today's gold mining landscape -a large-scale, under-consolidated camp in a stable jurisdiction with significant infrastructure advantages. As global gold camps become increasingly scarce and exploration success rates decline, Quebec's Chibougamau region emerges as one of the few remaining districts with the scale potential to support multiple major operations.

The camp's appeal extends beyond its geological endowment to include Quebec's mining-friendly regulatory environment, established infrastructure, and skilled workforce. Recent consolidation efforts have reduced ownership from five companies to essentially two major players - IAMGOLD and Northern Superior - creating the critical mass necessary for optimal development. This consolidation mirrors successful camp developments in Yukon, Guyana, and Finland, where coordinated development approaches have maximized value for all stakeholders.

The timing appears particularly favorable as major mining companies, flush with cash from strong gold prices, seek growth opportunities in stable jurisdictions. Franco-Nevada's billion-dollar investment in IAMGOLD's Côté Gold Mine royalty signals institutional confidence in Quebec gold assets, while the premium valuation suggests the market may be undervaluing the broader camp potential.

"I feel very strongly that the next big camp to take off globally is right here in our backyard in Quebec, Canada."