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Owned by Northern Star Resources Ltd. in Superior Gold

TORONTO, June 29, 2021 (GLOBE NEWSWIRE) – Northern Star Resources Ltd. (“North Star“) to file an early warning report (the”Early warning report“) notify the sale of common shares (the”Ordinary actions“) of Superior Gold Inc. (“Superior Gold“). Northern Star disposed of a total of 6,300,000 common shares through the TSX Venture Exchange (the “TSXV“) on June 28, 2021 at a price of $ 0.63 per common share for a total cash consideration of $ 3,906,000 (the”Disposition“).

Immediately prior to the disposition, Northern owned and controlled 18,346,261 common shares and 13,960,561 warrants. Common shares held by Northern Star represented approximately 15.1% of the issued and outstanding common shares on an undiluted basis. On a partially diluted basis, assuming the exercise of the warrants, Northern Star would have owned and controlled 32,306,822 common shares, representing approximately 23.8% of the outstanding common shares.

As a result of the disposition, Northern Star owns and controls a total of 12,046,261 Common Shares. Immediately following the completion of these transactions, the 12,046,261 common shares that Northern Star owns and controls represent approximately 9.9% of the issued and outstanding common shares on an undiluted basis. On a partially diluted basis, assuming the exercise of the 13,960,561 warrants held by Northern Star, Northern Star would own and control 26,006,822 common shares, representing approximately 19.2% of the outstanding common shares.

The securities held by Northern Star are held solely for investment purposes and not for the purpose of exercising control or direction over Superior Gold. Northern Star currently has no plans or proposals that relate to or would result in the acquisition of additional ownership or control over the Superior Gold securities (other than the exercise of the Warrants). Northern Star may or may not buy or sell Superior Gold securities in the future on the open market or in private transactions, depending on market conditions and other factors important to Northern Star’s investment decision.

A copy of the alert report to be filed by Northern Star with the applicable securities commissions will be filed under Superior Gold’s profile on SEDAR at www.sedar.com and a copy of the alert report may also be obtained by contacting the Secretary of the Company. of Northern Star, at Level 1, 388 Hay Street, Subiaco WA 6008 Australia, e-mail: [email protected]

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