Superior Copper Corporation
TSX VENTURE : SPC

Superior Copper Corporation

November 10, 2014 07:00 ET

Superior Copper Project Update

TORONTO, ONTARIO--(Marketwired - Nov. 10, 2014) - Superior Copper Corp (TSX VENTURE:SPC) (the "Company") is pleased to provide shareholders with an update on its regional exploration drill program at its wholly owned Superior Project. The Superior Project is located 85km North of Sault Ste. Marie, Ontario on the eastern shore of Lake Superior.

Highlights

  • Mineralization sampled in 8 of 8 completed drill holes.
  • 2 of 6 tested targets warrant follow up exploration.

The objective of the 2014 exploration program was to drill test targets indicated by favorable geophysical anomalies and management has been encouraged with the results to date. Follow up exploration targets will be considered once all results have been returned and reviewed by the Company's geologists. The Company is fully financed to continue and complete its 2015 exploration budget.

The Company has drilled a total of 11,992m to date and taken 2,001 samples, amounting to roughly 26% of the project budget. Eight diamond drill holes have been completed testing six of the initial eleven targets. Two drill holes are currently in progress, and one drill hole will be returned to after it was delayed due to a water shortage earlier in the summer.

Table 1
Hole No. Drilling Assays
SPC-14-01 Complete Returned
SPC-14-02 Complete Returned
SPC-14-03 Complete Returned
(SPC-14-02 follow up)
SPC-14-04 Incomplete Incomplete
SPC-14-05 Complete Returned
SPC-14-06 Complete Returned
SPC-14-07 Complete Pending
SPC-14-08 Complete Pending
(SPC-14-06 follow up)
SPC-14-09 Complete Pending
SPC-14-10 In Progress In Progress
SPC-14-11 In Progress In Progress

Assays have been returned for four of the eight complete holes. Visible mineralization and anomalous copper values have occurred in all drill holes completed to date.

The most significant mineralization was discovered in SPC-14-01 at the 3M Zone (see the Company's Press Release dated September 18, 2014). Superior Copper geologists have followed up this discovery with and induced polarization survey ("IP") and mapping. Follow up drill targets will be selected once the Company geologists have compiled and analyzed the data.

Also of significance, the Company intersected a zone of fracture controlled chalcopyrite-bornite mineralization in hole SPC-14-06 that returned 0.12% copper over 80m (see Table 2). Mineralization occurred in an intermediate porphyry dike and surrounding mafic volcanics.

Table 2
Hole No. From To Width* Cu (%) Ag (gpt) Au (gpt)
SPC-14-06 675.50 784.82 80.29 0.12 0.49 -
Including 675.50 684.83 8.28 0.50 1.45 0.01
706.83 708.12 1.29 0.45 1.18 0.13
716.87 717.29 0.42 3.08 7.48 0.05
731.00 733.00 2.00 0.66 5.51 0.03
783.93 784.82 0.32 2.42 9.16 0.054

* Not true Widths

About Superior Copper Corporation

Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the continual global demand. Its primary land position is its 100%-owned Superior Project, which covers 17,874 hectares or 179 square km, and is located approximately 85 km north of Sault Ste. Marie, Ontario.

The technical aspects of this press release have been reviewed by D. Morgan Quinn, P.Geo., who is the "Qualified Person" as defined by NI 43-101 for this project. QA /QC and assay procedures can be found on the Company's press release dated July 8, 2014.

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, use of proceeds from the Offering, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.

Shares Outstanding: 162,428,784

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