FRONTIER ENERGY LIMITED — Capital/Financing Update 2021

Jun 30, 2021

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ASX Announcement ASX: SUP 1 July 2021 superiorlake.com.au

Further extension of exclusivity option on North American uranium project

Highlights

• Superior Lake has extended its exclusivity option with Premier Uranium LLC (“Premier”) until 30 September 2021

  • Premier owns two uranium projects strategically located close to existing and historical operations within major uranium producing US states, Wyoming and Utah

  • Premier is owned by Sachem Cove Partners LLC (“Sachem Cove”), a prominent uranium/nuclear power dedicated hedge fund led by uranium investor Mike Alkin

• In addition to the Premier opportunity, the Company continues to assess other opportunities in the resources and energy industries

Superior Lake Resources Limited (ASX: SUP) ( “Superior Lake” or the “Company” ) is pleased to provide an update on the Company’s continued assessment of project acquisition opportunities.

Premier Uranium – Extension of Exclusivity Agreement

The Company has reached agreement on the extension of the exclusivity option over Premier Uranium LLC (“ Premier ”) to 30 September 2021. This extension was granted for no additional consideration.

Premier is 100% owned by leading global uranium investor Sachem Cove, a uranium/nuclear energy dedicated fund led by respected uranium investor Mike Alkin. Premier owns the rights to two uranium projects, which are strategically located close to existing and historical uranium operations within the major uranium producing states of Wyoming and Utah in the USA.

Investors are cautioned that the grant of exclusivity to conduct due diligence does not provide the Company with a binding right to acquire an interest in either of Premier’s projects and there is a risk that the transaction may not proceed.

Other Opportunities

In addition to the Premier transaction, the Company continues to investigate other opportunities in the resources and energy sectors.

To learn more about the Company, please visit www.superiorlake.com.au, or contact:

Grant Davey Executive Director +61 8 6117 0479

T: +61 8 6117 0479

Emerald House 1202 Hay Street West Perth WA, 6005

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