Mr. Simon Marcotte reports

NORTHERN SUPERIOR ANNOUNCES UPSIZING OF ONGOLD RESOURCES FINANCING AND RECEIPT OF LISTING CONDITIONAL APPROVAL

Northern Superior Resources Inc. and 1348515 B.C. Ltd. (BCCo, together with Northern Superior, the parties), due to strong demand from well-known gold investors, have increased the size of the financing related to its Ontario spinout company, to be named ONGold Resources Ltd., from approximately $3-million (see press release dated Sept. 6, 2023) to more than $5.25-million.

On closing of the proposed transaction (as defined below), Northern Superior will own 35,686,686 shares of BCCo with a deemed value of approximately $18.2-million.

The parties are also pleased to announce that, further to the press releases dated July 10, 2023, and Sept. 6, 2023, the TSX Venture Exchange has conditionally approved the company's proposed transaction with BCCo, in accordance with the binding letter agreement dated as of July 10, 2023. The letter agreement outlines the proposed terms and conditions upon which Northern Superior will sell all of its exploration properties located in the province of Ontario, being the Ti-pa-haa-kaa-ning project (TPK project) and the October gold property, as well as certain other exploration properties (collectively, the spin-out assets) to BCCo, in consideration for common shares of BCCo. Final approval with respect to the closing of the proposed transaction and listing of the common shares of ONGold following the proposed transaction is contingent upon fulfilment of customary conditions of the exchange as outlined in its conditional approval letter.

The parties anticipate closing the proposed transaction on or about April 30, 2024, subject to the approval of the exchange and all conditions of the letter agreement. Upon closing of the proposed transaction, it is anticipated that the common shares of ONGold will trade on the exchange under the symbol ONAU.

Kyle Stanfield, nominated chief executive officer of ONGold, commented: "As several elements of success converge for ONGold, I am truly humbled by the significant interest shown by all stakeholders, with whom I look forward to a continued innovative collaboration."

Financing and listing process details

Further to the parties news release dated Sept. 6, 2023, the escrow release conditions of all 5,882,356 subscription receipts have been satisfied and the proceeds from the purchase of the subscription receipts have been released from escrow. As a result, the subscription receipts have converted into a total of 5,882,356 common shares in the capital of the BCCo, and the BCCo now has access to $3,078,605.56 in proceeds. For additional information on the offering of 5,882,356 subscription receipts of BCCo, please refer to the above-noted news release.

The parties also announce that, further to BCCo's press release dated March 8, 2024, discussing the closing of a first tranche of an offering of subscription receipts of its subsidiary 1462356 B.C. Ltd. (Finco) for aggregate gross proceeds of approximately $1,823,700, BCCo anticipates closing an additional tranche of the offering of subscription receipts in the Finco financing in mid-April, 2024, for aggregate gross proceeds of approximately $350,000, following which, the closing of the proposed transaction is expected. Altogether, the financings discussed above are expected to amount to $5,252,305.56.

For additional details regarding the proposed transaction and Finco financing, please refer to the aforementioned press releases filed on the company's and BCCo's SEDAR+ profiles.

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 host a new maiden National Instrument 43-101 inferred resource of 1,708,800 ounces gold and an indicated resource of 278,900 ounces of Au. 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 Au (underground and open pit) and an indicated mineral resource of 260,000 ounces Au. Croteau hosts an inferred mineral resource of 640,000 ounces Au. 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.

About 1348515 B.C. Ltd.

1348515 B.C. is a reporting issuer in the provinces of British Columbia and Alberta, with no current activities or operations. 1348515 B.C. is engaged in identifying and evaluating suitable assets or businesses to acquire or merge with, with a view to maximizing value for shareholders.

We seek Safe Harbor.