Northern Superior Resources - High-Grade Plan to Consolidate 12Moz Gold Resource

• CEO Simon Marcotte predicts gold reaching $30,000, following oil's eleven-fold rise from 1999-2008, driven by negative real rates and central bank accumulation
• Northern Superior has consolidated the Chibougamau Gold Camp from five companies to two, creating critical mass with IAMGOLD in a 12.4 million ounce district
• New underground potential discovered with 18 meters grading 2.5 g/t gold, including 5 meters at 7 g/t, opening high-grade opportunities beneath existing open pit
• Philibert deposit offers 15-18% higher grade than IAMGOLD's Nelligan (1.1 g/t vs 0.95 g/t) with potential for 40% grade improvement through cut-off optimization
• With IAMGOLD approaching cruise control at Côte Lake, focus will shift to Chibougamau development, where Northern Superior may hold the "key to the camp"

The Gold Tsunami: A New Financial Era

Simon Marcotte, President and CEO of Northern Superior Resources, has made headlines with his bold prediction that gold will reach $30,000 in the coming years. His thesis isn't based on speculation, but on careful analysis of macroeconomic trends and historical parallels.

"Gold is the next tsunami to come," Marcotte declares.

"The gold stocks have yet to perform, and that's because gold shouldn't be where it is. Gold should be down right now. If you look at the way the real rates have been behaving, yet gold has been doing excessively well because the central banks globally have been buying gold."

His analysis draws a compelling parallel to oil's spectacular rise in the early 2000s: "Oil had the same type of reaction - it went up tenfold, elevenfold, between 1999 and 2008 so that would take gold to the levels I'm talking about." This comparison becomes even more powerful when considering that central banks weren't aggressively accumulating oil futures like they are gold today.

The foundation of Marcotte's thesis lies in understanding real rates - interest rates minus inflation. When real rates turn negative, gold becomes the optimal store of value. "When you have real rates that are negative, then to own bonds destroys value," he explains. "The interest that you receive are less than what you're losing with the inflation conversely, it's the goal that becomes a vehicle where you can create value passively."

Central to this thesis is the observation that gold reserves represent the "book value" of a currency. As Marcotte notes: "The gold reserves of the United States are kind of the book value of the debt of the currency of the United States." When confidence in institutions wavers, markets turn to this fundamental anchor, potentially driving gold to $24,000 based on 1970s equivalence alone.

Interview with President & CEO, Simon Marcotte

Project 2025: Economic Strategies & Implications

Perhaps most intriguingly, Marcotte highlights how current U.S. economic policy appears designed to create the exact conditions that would drive gold significantly higher. Despite political controversy, he notes that "in the first week in office, about or near 70 percent of the executive orders that were signed were recommendations from Project 2025."

The key mechanism involves the $3 trillion in bank reserves currently parked at the Federal Reserve. "If Project 2025 recommendations were be to be implemented, then that money wouldn't enter the real market," Marcotte explains. This would either create inflation or put downward pressure on yields - both scenarios favorable for gold.

Additionally, Marcotte discusses Stephen Miran's economic paper, whose author "has since become the chair of President Trump's economic councils." The plan involves using high tariffs as negotiation tools to weaken the dollar - essentially implementing "wartime financial conditions in order to remanufacture the United States.

"These aren't random policy moves but part of a coordinated strategy. "This administration is looking to implement wartime financial conditions in order to remanufacture the United States," Marcotte observes. "It doesn't matter if it's going to work or not. The real rates are coming down, and gold is going to react in a massive way."

Stagflation & Gold: Navigating Economic Challenges

The specter of stagflation - weak economic growth combined with high inflation - creates the perfect storm for gold's outperformance. Marcotte clarifies that "stagflation is when economy is weak and inflation is high. So if economy is weak, your rates can't be as high as they would normally be, and stagflation is exactly when you get negative real rates."

This understanding helped explain gold's behavior during COVID. Initially, gold and gold stocks performed exceptionally well, with Northern Superior reaching $1.50. However, when the Fed raised rates faster than inflation to combat post-COVID inflation, real rates remained positive, capping gold's performance.

"You have to look at the real rates. That's where it makes sense," Marcotte emphasizes. The market learned this lesson during COVID's brief period of negative real rates, when "gold stocks catapulted" in just a few months.

What makes the current environment particularly compelling is the perfect setup for sustained negative real rates. Unlike the Fed's aggressive response post-COVID, current policies seem designed to keep real rates suppressed, creating an environment where gold can sustain massive gains over years rather than months.

The Chibougamou Gold Camp: A New Frontier

While the macro thesis provides the backdrop, Northern Superior's real value lies in its strategic position within the rapidly emerging Chibougamou Gold Camp. The company has executed a brilliant consolidation strategy, taking what was five separate companies just three years ago and reducing it to two major players.

"The Chibougamou Gold Camp is really not that far behind" major camps like Guyana (22 million ounces) and Finland (12 million ounces), Marcotte notes. "The Chibougamou Gold Camp is now between IAMGOLD and Northern Superior. There has been a total of 12.4 million ounces that have been defined so far."

What sets Chibougamou apart is proximity.

"All these assets in the Chibougamou Gold gold camp are very, close to one another. And we always thought that all of these assets could feed the same mill."

This proximity dramatically improves project economics - critical for attracting development capital.

The timing couldn't be better. IAMGOLD, Northern Superior's camp partner, has successfully de-risked their Côté Lake operation and is approaching "cruise control." Marcotte predicts:

"Once they have completely de-risked the operation at Côté Lake, then to keep talking about de-risking that operation is not going to create shareholder value anymore. I would expect them to switch their focus and a large part of their narrative towards their next stage of development, which is the Chibougamou Gold Camp."

IAMGOLD's CEO has already indicated this shift, stating they "think big when it comes to Nelligan and Chibougamou" and see "the camp or their assets in the camp to go at 15 plus million ounces."

Recent Discoveries: Optimizing Gold Resources

Northern Superior's latest discovery reinforces why Marcotte believes they may own "the key to the camp." The company announced "18 meters of 2.5 gram a ton, including close to five meters at seven grams a ton" at depth beneath their Arctic Fox pit.

This discovery is significant for multiple reasons. First, it opens underground potential beneath existing open pit resources, following the successful model at Detour Lake, where "they are now entering the underground portion of the deposit and they go after higher grade doing this and that is achieving spectacular profitability."

Second, it highlights Philibert's superior economics compared to IAMGOLD's Nelligan deposit. Using the same cut-off grade, "Nelligan has a resource of 0.95 and Philibert has a resource of 1.1 gram a ton" - representing 15-18% more gold per ton. More importantly, optimization analysis shows that "if you move up the cut-off grade just a tiny bit from 0.35 to 0.5 you'll see that we lose only about 10% of the ounces" while the "grade becomes 40% higher than than Neligan."

For a bulk tonnage operation where payback period is paramount, starting with higher-grade material from Philibert could dramatically improve project economics. "If you start with this higher value material, you're going to know where your payback is," Marcotte explains.

Investment Thesis for Northern Superior Resources

• Strategic Asset: Owns Philibert deposit with superior grade (1.1 g/t vs 0.95 g/t) and metallurgy compared to camp's flagship Nelligan
• Consolidation Play: Successfully consolidated Chibougamou from 5 to 2 companies, creating critical mass for development
• Optimization Opportunity: Cut-off grade changes could improve Philibert's grade by 40% while retaining 90% of ounces
• Underground Potential: Recent discovery opens high-grade underground opportunity beneath existing open pit resource
• Perfect Timing: IAMGOLD approaching shift in focus from Côté Lake to Chibougamou development
• Joint Venture Catalyst: IAMGOLD may seek development partner for camp-wide optimization, creating potential takeout scenario
• Undervalued: Junior gold stocks at historic lows relative to gold price, with massive revaluation potential ahead

Northern Superior Resources represents a unique convergence of macro opportunity and micro execution. While Marcotte's $30,000 gold prediction might seem audacious, his analysis of economic policy, real rates, and historical precedent provides compelling support. More importantly, Northern Superior has positioned itself perfectly within the Chibougamou Gold Camp to capture maximum value from gold's coming tsunami.

The company's strategic consolidation efforts, superior asset quality, and recent discoveries create multiple paths to value creation - whether through organic development, optimization with IAMGOLD, or eventual takeout. With junior gold stocks at historic lows relative to gold prices and policy winds blowing favorably for precious metals, Northern Superior offers investors leveraged exposure to what could be the investment opportunity of the decade.

As Marcotte concludes: "The value in the junior space right now is mind boggling. Like on the eve of something that massive, that structural, you know, it's a structural change that we're seeing and I think we're going to do so well."

Macro Thematic Analysis: Gold's Perfect Storm

The convergence of policy, economics, and market structure creates an unprecedented environment for gold and gold equities. Central banks have been net buyers for over a decade, accumulating gold faster than mines can produce it. Meanwhile, Western investors remain largely absent from the gold market, focused instead on tech stocks and crypto.

Current U.S. policy appears deliberately designed to weaken the dollar and create negative real rates - the exact conditions that historically drive gold parabolic. The $3 trillion in bank reserves at the Fed represents dry powder that, if released through policy changes, would either create inflation or suppress yields. Either outcome benefits gold.

The timing is particularly compelling because gold equities, especially juniors, haven't participated in gold's rise from $1,200 to over $2,000. This disconnect mirrors oil stocks in the late 1990s, when they traded at historic lows despite oil's steady climb. When sentiment shifted, oil stocks delivered extraordinary returns as they caught up to and eventually overshot the underlying commodity.

Gold's unique position as both a commodity and monetary asset means supply-demand dynamics differ from industrial metals. New mine production represents less than 2% of above-ground gold stocks. Unlike lithium or copper, where high prices incentivize rapid supply responses, gold's primary function as a store of value means monetary flows dwarf physical supply considerations.

The structural shift toward "friendshoring" and de-dollarization by major economies creates persistent demand for gold as a neutral reserve asset. Combined with quantitative easing's inevitability in addressing massive debt burdens, the fundamental case for gold extends well beyond any single economic cycle.

For equity investors, this represents a generational opportunity to position ahead of mainstream recognition of these trends.