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Superior Lake Resources Ltd.

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Summary

Project:

Superior Lake

Deposit:Superior Lake
Location:Canada
Commodities:Zinc-Copper-Silver-Gold
Date:10/10/2018
Report Code:JORC
Report Type:Scoping Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:10-10-2018: Superior Lake Resources Ltd. announces a Scoping Study report for its Superior Lake deposit at the Superior Lake project. Restart study results incl. post-tax NPV of US $118.9M (10%), IRR of 48%, 6.5yr LOM. Superior Lake Resources Limited (ASX
Resources:(Resource, I+I): 2.145Mt @ 17.7% Zn, 0.9% Cu, 0.4g/t Au, 33.5g/t Ag
CP/QP:[Overall Report]: Not stated (n/a)
ABSTRACT:Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) is pleased to announce that a Restart Study for its Superior Lake Project in Ontario, Canada, has confirmed the Superior Lake Project has the potential to be one of the lowest cost zinc producers globally. Superior Lake CEO David Woodall said: “The Restart Study clearly demonstrates the Superior Lake Project is one of the leading zinc development assets globally today. “The standout features of the study were the exceptional low estimated operating costs which is driven by the high-grade ore, as well as the low estimated initial capital cost. “The study gives the board confidence to advance the project towards a Definitive Feasibility Study, which we aim to complete by mid-2019. “Whilst the existing resource provides an excellent platform for the company to join the ranks of zinc producers in the coming years, we believe the exploration potential, untested in more than 20 years, holds significant value for shareholders” Superior Lake has also appointed Tribeca Investment Partners Pty Ltd (“Tribeca”), a cornerstone investor in the Company’s recent $5 million placement, to arrange up to US$60 million in Project Financing, as the Company announced on 24 August 2018.

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