Superior Mining International Corporation

Superior Mining International Corporation

March 30, 2010 08:30 ET

Superior Not Proceeding With Ross Property Option Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2010) - Superior Mining International Corporation (TSX VENTURE:SUI) (the "Company") has elected not to proceed with the option on the mineral property located in Ross Township, New Zealand. The Company had been in discussions with the vendors in order to restructure the October 2007 option agreement (the "Option") to reflect the current market for developing placer properties in the region. The parties were unable to restructure the transaction and therefore agreed to terminate and release each other from any obligations under the Option. Pursuant to the termination agreement, Superior and the vendors are free to pursue their own interests in the region without any obligation to the other party.

On behalf of the Board of Directors of Superior Mining International Corporation

John Proust, President & CEO

This press release contains forward-looking statements. The Company can give no assurance that such statements will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the availability of financing on suitable terms, the inability of the Company to obtain any necessary permits, consents or authorizations required for its activities, and other risks and uncertainties inherent in mineral exploration.

The TSX Venture Exchange has neither approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Superior Mining International Corporation
    John Proust
    President & CEO
    (604) 601-2005
    (604) 488-0319 (FAX)