SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2013

Sep 16, 2013

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Superior Resources Limited

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----- Start of picture text ----- ABN 72 112 844 407----- End of picture text -----

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

ASX RELEASE 17 September 2013

Renounceable Rights Issue Dispatch of Prospectus

Superior Resources Limited (ASX: SPQ, SPQR) ( Company ) confirms that the Prospectus dated 5 September 2013 and personalised Entitlement and Acceptance Forms for the renounceable rights issue were dispatched to eligible shareholders on 17 September 2013.

The indicative timetable for the offer is as follows:

		Event	Date	Date	Date	Date
		Offer announced and Appendix 3B lodged with ASX	Thursday,
				5 September 2	013
		Prospectus lodged with ASIC and ASX	Thursday,	5 Stmbr 2	013
				epee
		Ex-date – Shares trade ex entitlement	Monday, 9
				September 20	13
		Rights trading commences	Monday, 9	Setember 20	13
				p
		Record Date	Friday, 13
				September 201	3
		Dispatch of Prospectus and Entitlement and Acceptance forms toEligible Shareholders	Tuesday, 17 September 2013
		Rights trading ends	Tuesday, 24 September 2013
		Deferred settlement trading commences	Wednesday 25 September 2013
				,
		Closing date for acceptances	Tuesday,	1 October 2013
		Notify ASX of under-subscriptions	Friday, 4 O
				ctober 2013
		Allotment and issue of New Shares	Thursday,	10 October 2013
		Dispatch of shareholder statements	Friday, 11	October 2013
		N Sh di d	Fid 11	Ob 21
		ew ares commence trang (expecte)	ray, ctoer 03

ASX Release – 17 September 2013 - Page 1 of 2

Superior Resources Limited

The Rights Issue – Key Information

• Issue price of 1.2 cents per New Share represents a 66% discount to the closing share price prior to the announcement of the Rights Issue.

• Maximum number of New Shares which may be issued by the Company: 124,658,932 fully paid ordinary shares.

• Maximum Raising: $1,495,907.30 (before expenses).

• Patersons Securities Limited has underwritten the Rights Issue to $1.1 million.

• A shortfall facility will be provided to Rights holders. The Company’s Directors have the right to place any remaining shortfall at their discretion within three months after the close of the Rights Issue.

• The following options are available to Rights holders:

  • take up your rights in full or in part;

  • take up your rights in full and apply for additional New Shares;

  • sell all or part of your rights on the ASX (ASX: SPQR );

  • purchase additional rights on the ASX; or

  • do nothing, in which case your rights will lapse.

• The Rights Issue is only available to shareholders who have a registered address in Australia or New Zealand.

• A Rights Issue Prospectus is also available on the ASX website www.asx.com.au and on the Company’s website (www.superiorresources.com.au).

For further information, please contact the undersigned.

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Peter Hwang Managing Director

Contact: Mr Peter Hwang Ph: (07) 3839 5099 Further Information: www.superiorresources.com.au manager@superiorresources.com.au

ASX Release – 17 September 2013 - Page 2 of 2