SUPERIOR RESOURCES LIMITED — AGM Information 2012

Nov 8, 2012

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Superior Resources Limited

ABN 72 112 844 407

Registered Office: Level 2, 87 Wickham Terrace, Spring Hill, QUEENSLAND, 4000. Postal Address: PO Box 10288, Brisbane Adelaide Street, QUEENSLAND, 4000. Telephone: 07 3839 5099 Facsimile: 07 3832 5300 Email: manager@superiorresources.com.au

Chairman’s Address SPQ 2012 AGM 9 November 2011

Welcome to the 2012 AGM.

As is our standard practice, at the conclusion of the AGM, our Managing Director, Mr Ken Harvey, will present the talk that was given at the recent Mining 2012 conference. This presentation has already been lodged with ASX. As Ken will provide more details of the results of company’s exploration programs, I will keep my address to an overview only. I also refer you to my Chairman’s Review contained in the Annual Report.

As you are aware from our regular reports to ASX, during the past year Superior has focussed its activities on its 100% owned One Mile mining lease near Greenvale in northeast Queensland. This is because the One Mile Project offers more immediate prospects for discovery than the longer term exploration for Mount Isa style deposits in northwest Queensland.

During the year a further drilling program was completed at One Mile. This program confirmed the southerly plunge of the mineralisation from the outcropping gossan with an improvement of the width and grade of the intersections down the plunge. However the intersections did not quite reach economic levels. The width and intensity of the enclosing alteration zone also improved at depth to the south. A diamond drill hole to test approximately 100m further down the southerly plunge is currently in progress. This hole is currently at about 300m depth so we would expect to complete the drill hole within the next two weeks.

Superior also acquired the exploration rights to the ground surrounding the One Mile mining lease during the year. This area is held as an exploration permit application. Compilation and interpretation work on historical data in this area indicates a number of prospective new areas for exploration when the area is granted.

The One Mile mining lease has also been renewed for a further 5 years.

As advised to ASX about a year ago, Superior is also farming into the Tick Hill gold project in northwest Queensland. Unfortunately, the agreement with Diatreme Resources is subject to pre-conditions and some of these have not been met at this stage. We are at the mercy of the government here. Consequently the work on this project has not commenced in earnest to try to find the extension of the high-grade Tick Hill gold mineralisation which was previously mined.

We continue to look for a suitable joint venture partner for our northwest Queensland projects.

I expect that the coming year should again be interesting.

David John Horton Chairman