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Northern Superior Resources Inc V.SUP

Alternate Symbol(s):  NSUPF

Northern Superior Resources Inc. is a Canada-based gold exploration company focused on the Chibougamau Camp in Quebec, Canada. The Company has consolidated the land package in the region, with total land holdings exceeding 62,000 hectares (ha). The main properties include Philibert, Lac Surprise, Chevrier and Croteau. It also owns 72% of ONGold Resources Ltd., which is advancing exploration assets in Northern Ontario, including the district scale TPK Project. The Philibert Project is located 9 kilometers (km) from IAMGOLD Corporation’s Nelligan Gold project. It holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by Mines Royales and Soquem Inc., and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au and an indicated mineral resource of 260,000 ounces Au. Croteau hosts an inferred mineral resource of 640,000 ounces Au. Lac Surprise hosts the Falcon Zone Discovery.


TSXV:SUP - Post by User

Post by kevoyon Aug 27, 2014 11:15am
161 Views
Post# 22882149

Progress on the company's $110-million lawsuit

Progress on the company's $110-million lawsuit

 

N. Superior continues $110-million suit against Ontario

2014-08-27 08:42 ET - News Release

 

Mr. Thomas Morris reports

NORTHERN SUPERIOR REPORTS ON PROGRESS OF ITS $110 MILLION LAWSUIT AGAINST GOVERNMENT OF ONTARIO

Northern Superior Resources Inc. has provided the following progress on the company's $110-million lawsuit against the government of Ontario.

 

  1. Since the appointment at the company's request of a judge to manage its case against the Ontario government, lawyers for Northern Superior and the government of Ontario have attended three case conferences before Mr. Justice Lederer of the Ontario Superior Court of Justice.
  2. As a result of these case conferences, various outstanding procedural issues have now been resolved and the case can now move to the next stage.
  3. Northern Superior obtained further documentation previously undisclosed by the Ontario government, and on Aug. 21, 2014, delivered its final reply in response to the Ontario government's "fresh and amended statement of defence" (copies of all pleadings can be found on Northern Superior's website under the heading claim.
  4. Northern Superior and the Ontario government have agreed that in addition to managing procedural aspects of the court action, Justice Lederer will also hear and rule on the merits of the case.

 

As the next stage in this process, Northern Superior has given notice of its intention to bring a motion before Justice Lederer for decision on several key issues, central to the case. It is expected that a timetable leading up to a hearing on these issues in late 2014 or early 2015 will be set in mid-September.

Northern Superior will keep its shareholders apprised of developments as they occur.

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