Key Facts about Superior Resources Limited (ASX: $SPQ) announcement

Superior Resources Limited (ASX: $SPQ) has announced new copper, gold, and molybdenum assay results from the eleventh, twelfth, and thirteenth holes drilled under the Company's Phase 2 program at the Bottletree Prospect. The results confirm the continuity of porphyry Cu-Au-Mo mineralisation and highlight the potential for a porphyry core in the southwest. The Company's Managing Director, Peter Hwang, expressed satisfaction with the confirmation of mineralisation continuity and the support for the potential existence of a porphyry core several hundred meters to the southwest of the Discovery Outcrop. Superior has been awarded a $300,000 Collaborative Exploration Initiative (CEI) Critical Minerals grant from the Queensland Government for the drilling of two deep diamond holes targeting the modelled core of the Bottletree porphyry Cu-Au-Mo system.

Executive Commentary from Superior Resources Managing Director, Peter Hwang

Results from the three 2023 drill holes have provided valuable information to enable further modelling of the Bottletree porphyry system in 3D. We are pleased to see the continuity of mineralisation being confirmed in the wall rocks at the Discovery Outcrop zone and importantly, that Hole 13 has provided important information to support the potential existence of a porphyry core several hundred metres to the southwest of the Discovery Outcrop. This effectively reinforces our 2023 porphyry vector modelling. Based on geological information from all holes drilled to date, our new 3D models have enabled us to further delineate a high priority porphyry core target, located about 700 meters to the southwest of the Discovery Outcrop. We are very excited about the modelled target, including its recognition by the Queensland Government with the recently announced $300,000 CEI Critical Minerals grant. The CEI grant will be applied directly to drilling of the porphyry core target and we are currently preparing logistics to enable commencement of drilling as soon as possible. Further details about the 2024 Bottletree drilling program as well as new exploration findings will be presented to the market in due course.

Summary of ASX Announcement and Outlook

The ASX announcement from Superior Resources Limited (ASX: $SPQ) confirms the continuity of porphyry Cu-Au-Mo mineralisation at the Bottletree Prospect and highlights the potential for a porphyry core in the southwest. The Company's ambitions include further modelling of the porphyry system in 3D and delineating a high priority porphyry core target located about 700 meters to the southwest of the Discovery Outcrop. Superior has been awarded a $300,000 Collaborative Exploration Initiative (CEI) Critical Minerals grant from the Queensland Government for drilling the porphyry core target. The Company is preparing logistics to commence drilling as soon as possible. The outlook for Superior Resources involves presenting further details about the 2024 Bottletree drilling program and new exploration findings to the market in due course.