Superior Canadian Resources Inc.

Superior Canadian Resources Inc.

March 27, 2006 07:30 ET

Superior Canadian Resources Inc.: Sim Lake Drilling Program has Commenced

CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - SUPERIOR CANADIAN RESOURCES INC. (TSX VENTURE:CAD) (The Company) under terms of the Exploration Agreement recently announced with STILLWATER MINING COMPANY, (NYSE:SWC), have commenced drilling on the Sim Lake nickel-copper-PGM project.

Property is located approximately 350 km north east of Thunder Bay, Ontario and is accessible via a local road network.

The drilling program, which was initiated mid last week, involves the drilling of five (5) PGM targets and two (2) priority kimberlite targets which were identified by the airborne geophysical TEM surveys conducted earlier by the Company.

It is expected that the results of the drilling program will be announced by mid-May.

The Company has acquired an additional 180 claim units (2,880 hectares) in the immediate area, based on further evaluation results of geophysical data by Paterson Grant Watson Geophysical Consultants of Toronto.

The Company also announces, subject to regulatory approval, that it has granted 200,000 common share purchase options to directors and consultants. The options will expire on March 26, 2011 and have an exercise price of $ 0.20 per share.

Superior Canadian Resources Inc. is a natural resource exploration company based in Calgary, Alberta and through its wholly owned subsidiaries has recently acquired oil and gas interests in Central Alberta and Montana.

This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.

Shares issued & outstanding: 16,204,218

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Superior Canadian Resources Inc.
    David Sim
    President and Director
    (403) 232-8555
    Superior Canadian Resources Inc.
    Jeff Shier
    (416) 550-9857