Mr. Simon Marcotte reports

NORTHERN SUPERIOR PROVIDES NOTICE OF ANNUAL GENERAL MEETING

Northern Superior Resources Inc. will hold its 2023 annual general meeting of the company's shareholders on Nov. 22, 2023, by telephone conference call. Advance notice of the meeting was filed on SEDAR+ on Sept. 21, 2023.

Meeting materials including a notice, management information circular and form of proxy for the meeting will be mailed on Oct. 24, 2023, to the shareholders of record on Oct. 16, 2023. Concurrently with the mailing, all meeting materials will be filed on SEDAR+ and will also be posted on the company's website.

The meeting is being held inter alia for the following purposes: (i) to receive the audited consolidated financial statements of the company for the fiscal year ended Dec. 31, 2022, and the auditor's report thereon; (ii) to fix the number of directors to be elected for the ensuing year at seven and to elect directors of the company for the ensuing year; (iii) to reappoint PricewaterhouseCoopers LLP as auditor for the company for the ensuing year and authorize the directors to fix the auditor's remuneration; (iv) to consider and, if deemed appropriate, to reapprove, with or without variation, the company's 2022 equity incentive plan; (v) to consider and, if deemed appropriate, to approve an extension to the expiry date of 1.26 million outstanding stock options held by certain directors and officers of the company (the impacted options); and (vi) to transact such other business as may properly come before the meeting or any adjournment.

The impacted options were granted to certain directors and officers with an exercise price of 55 cents per impacted option in replacement of previously granted stock options to acquire common shares of Royal Fox Gold Inc. following the closing of the company's acquisition of Royal Fox and are set to expire on Nov. 4, 2023, as per the terms of the arrangement agreement dated Sept. 6, 2022, between Royal Fox and the company (a copy of the arrangement agreement can be found on SEDAR+ under the company's profile). It is proposed to extend the term of the impacted options to June 10, 2026 (for 1.2 million impacted options), and July 19, 2026 (for 60,000 impacted options), which would be in line with the maturity date of the Royal Fox options originally issued.

On Oct. 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.

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+ under the company's profile. The proposed option extension is deemed to be a related party transaction (as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions). 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 Quebec, Canada. The company has consolidated the largest land package in the region, with total landholdings 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 nine kilometres from Iamgold Corp.'s Nelligan gold project, which was awarded the Discovery of the Year by the Quebec Mineral Exploration Association (AEMQ) in 2019. Philibert hosts a new maiden National Instrument 43-101 inferred resource of 1,708,800 ounces gold and an indicated resource of 278,900 ounces of gold. Northern Superior holds a majority stake of 75 per cent in the Philibert project, with the remaining 25 per cent owned by SOQUEM, and retains an option to acquire the full 100-per-cent ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces gold (underground and open pit) and an indicated mineral resource of 260,000 ounces gold. Croteau hosts an inferred mineral resource of 640,000 ounces gold. Lac Surprise hosts the Falcon zone discovery, interpreted to be the western strike extension of Iamgold's Nelligan deposit.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec and trades on the TSX Venture Exchange under the symbol SUP and the OTCQB Venture Market under the symbol NSUPF.

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