SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2018

Mar 27, 2018

Superior Resources Limited

ASX Release 28 March 2018

ACN 112 844 407

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RIGHTS ISSUE – ALLOTMENT OF SHORTFALL SHARES AND OPTIONS

Superior Resources Limited (ASX Code: SPQ ) ( Superior or Company ) announced on 14 March 2018, that its 1 for 4 non-renounceable rights issue, with free attaching options[1] to raise up to $1.238 million resulted in a substantial oversubscription under the shortfall offer. The Company further announced on 16 March 2018, that the Directors would commence a scaleback exercise in accordance with the terms of the Replacement Prospectus.

Valid applications for a total of 111,575,536 shares were received under the shortfall offer. The total number of shortfall shares available under the shortfall offer totalled 31,374,466 shares.

A total of 80,201,072 shares were scaled-back, resulting in 31,374,464 shares and 15,687,215 options to be issued under the shortfall offer.

The Company confirms that a total of 31,374,464 new fully paid ordinary shares and 15,687,215 new options were allotted and issued on 27 March 2018, which completes the issue of new securities under the rights issue.

Refund cheques for excess application amounts will be posted to applicants no later than Thursday, 29 March 2018.

For more information:

Peter Hwang Managing Director Tel: +61 7 3847 2887 www.superiorresources.com.au manager@superiorresources.com.au

Carlos Fernicola Chairman +61 7 3229 1799

1 Shareholders who subscribed under the Rights Issue and shortfall offer will also receive one free attaching option for every two entitlement shares issued, with each option having an exercise price of $0.016 and expiring on 31 August 2019.