Northern Superior Resources Announces a Minimum C$1.215 Million Dollar Non-Brokered Private Placement

SUDBURY, ONTARIO / ACCESSWIRE / May 4, 2020 / Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce it has arranged a new, minimum $1,215,000 non-brokered private placement.

This new private placement will consist of: (i) a minimum of 2,250,000 charity flow-through shares (the "Québec Charity FT Shares") priced at CAD$0.54 per Québec Charity FT Share raising a minimum of $1,215,000 (the "Offering"). The Company may elect to increase the size of the Offering by issuing additional Québec Charity FT Shares and/or charity flow-through shares (the "Ontario Charity FT Shares") priced at $0.435 per Ontario Charity FT Share.

The gross proceeds from the sale of Québec Charity FT Shares and if applicable, the Ontario FT Shares will be used respectively, to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's 100% owned Lac Surprise and/or Croteau Est properties in Québec (with respect to the Québec Charity FT Proceeds) and on the Company's 100% owned TPK property in Ontario (with respect to the Ontario Charity FT Share proceeds) and, each of which will be renounced to the respective subscribers with an effective date no later than December 31, 2020, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Québec FT Shares and Ontario FT Shares and respectively.

Dr. Thomas Morris, CEO states: "The momentum behind our Company continues to build and we are very pleased to see the strong support shown to us by investors as they get more familiar with our Company and the assets and opportunities associated with Northern Superior. These additional funds will allow us to move forward on the significant discoveries made at both Croteau Est and Lac Surprise over the last few years and hopefully unlock the significant value we see at both properties for our investors."

For further information regarding these exploration properties the reader is referred to the Company's corporate presentation posted on Northern Superior's website at www.nsuperior.com.

All shares issued under the Offering will be subject to a four-month hold period and will not be offered or registered in the United States. Commissions may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before May 29, 2020 and is subject to customary closing conditions including, but not limited to; the negotiation, execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Northern Superior Resources Inc.

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise, Croteau Est and Wapistan properties in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

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

For further information contact:

Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ?EUR?0992
Fax: (705) 525 ?EUR?7701
e?EUR?mail: info@nsuperior.com
www.nsuperior.com

Forward Looking Statement:

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Northern Superior Resources Inc.