SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2014

May 25, 2014

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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

ASX RELEASE 26 May 2014

Superior applies for additional ground to extend holding at the Cockie Creek Copper Prospect

Key Points:

• New EPM application as a result of upgrading of Cockie Creek porphyry copper prospect.

• New prospects

  • Bottletree Prospect: 15km south-southwest of Cockie Creek

  • Big Mag Prospect: 24km south-southwest of Cockie Creek.

• Wills Creek EPM 16995 and EPM 17012 to be relinquished.

Superior Resources Limited ( ASX Code: SPQ ) ( Superior ) is pleased to announce that the company has applied for a new Exploration Permit.

As announced to ASX in the March 2014 Quarterly Report, the potential of the Cockie Creek Copper Prospect has been upgraded following 3D modelling of IP survey results which identified a second copper target approximately 100m to the west of and parallel to the known mineralised copper zone.

Copper mineralisation at Cockie Creek is of the porphyry copper style. The mineralisation is hosted in a belt of basic to intermediate volcanic and intrusive rocks of Cambro-Ordovician age similar in type and age to the belt in New South Wales which hosts the large Cadia and North Parkes porphyry copper mines. The prospective belt of rocks probably originally extended the length of the east coast of Australia but it is now restricted to remnant areas. The rocks at Cockie Creek lie within one of those prospective remnant areas.

As a result of the upgrading of Cockie Creek, application for a new Exploration Permit (EPMA 25659 “Dinner Creek” of 300km[2] ) has recently been lodged over extensions of the prospective host rocks both to the east and south of the existing Cockie Creek Exploration Permit (EPM18987) (Figure 1).

The principal prospect of interest within the new area is the Bottletree Prospect lying some 15km south-southwest of Cockie Creek where low-grade copper mineralisation (50m @ 0.35% Cu) has been reported in shallow drilling by a previous explorer. A large magnetic anomaly (The Big Mag) lying a further 9km south-southwest of the Bottletree Prospect is also of interest (Figure 1). This magnetic anomaly is completely covered by laterite, soil and Tertiary sediments

ASX Release – 26 May 2014 - Page 1 of 3

Superior Resources Limited

but on the basis of limited work by previous explorers it is thought to be a gabbroic intrusive with both intermediate and ultramafic phases.

Compilation and interpretation of previous exploration data over the new area is in progress. This work has uncovered limited lead isotope analyses undertaken by previous explorers that show very similar lead isotopic signatures to those associated with porphyry copper mineralisation in New South Wales further confirming the similarities of the two areas.

Following the withdrawal of Sayona from the Wills Creek area as announced in the March 2014 Quarterly Report, both EPM 16995 and EPM 17012 in the Dajarra area of Northwest Queensland will be relinquished.

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Peter Hwang Managing Director

Contact: Further Information:

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

The information in this report that relates to the Cockie Creek, One Mile, Bottletree and Big Mag prospects is based on information compiled by Mr Ken Harvey, a Director and shareholder of Superior Resources Limited, who is a Member of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. Mr Harvey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Harvey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

ASX Release – 26 May 2014 - Page 2 of 3

Superior Resources Limited

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Figure 1. Greenvale Project airborne magnetics (RTP) showing EPM18987 “Cockie Creek” in red and the new EPM Application EPMA25659 “Dinner Creek” in white as well as the location of the Cockie Creek, One Mile, Bottletree and Big Mag prospects.

ASX Release – 26 May 2014 - Page 3 of 3