SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2018

Mar 15, 2018

ASX Release 16 March 2018

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Superior Resources Limited

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RIGHTS ISSUE – ALLOTMENT OF NEW SHARES AND OPTIONS

Superior Resources Limited (ASX Code: SPQ ) ( Superior or Company ) confirms its market announcement of 14 March 2018, that applications for a total of 106,234,248 entitlement shares were received as a result of the recently closed rights issue.

The Company further confirms that it has today allotted and issued 106,234,248 new fully paid ordinary shares and 53,117,101 new options[1] .

Applicants for the entitlement shares received one free attaching option for every two entitlement shares that were applied for. The options have an exercise price of $0.016 and expire on 31 August 2019.

The Directors are currently undertaking a scale-back of the applications for Shortfall Shares in accordance with the Replacement Prospectus. Excess application amounts will be refunded to applicants as soon as practicable after allotment of the Shortfall Shares, which is expected to occur next week.

For more information:

Peter Hwang Carlos Fernicola Managing Director Chairman Tel: +61 7 3847 2887 +61 7 3229 1799 www.superiorresources.com.au manager@superiorresources.com.au

1 In accordance with paragraph 8.1 of the Replacement Prospectus, for the purpose of calculating the number of new options to be issued to applicants, applications that were for an odd number of entitlement shares, were rounded down to the nearest even number.

Unit 8, 61 Holdsworth Street, Coorparoo Queensland 4151 │ PO Box 189, Coorparoo, Queensland, 4151 T 07 3847 2887 │ E manager@superiorresources.com.au │ www.superiorresources.com.au │ ABN 72 112 844 407