February 2012 CORPORATE PRESENTATION Experienced management focused on highly prospective mineral environments
CAUTIONARY NOTE This presentation contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forwardlooking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management s estimates or opinions change.
1 INVESTMENT HIGHLIGHTS Canadian-based South African gold exploration company. Highly prospective Mangalisa gold property in the Free State (Welkom) Goldfield located in the prolific Witwatersrand Basin of South Africa. Phase one and phase two drilling on the Mangalisa property completed successfully. Geological report to NI43-101 standard completed and under review. Developing a plan for Mangalisa Phase 3 drilling. Highly experienced Management Team and Directors.
2 MANAGEMENT AND DIRECTORS Brent Butler, President & CEO A geologist with 28 years of international industry experience in exploration, resource modeling and mining developments, both open pit and underground. Worked for Kinross Gold Corp. for 8 years in Australia, Canada, USA, Brazil, Chile and Africa. Serves on several boards of Directors in Canada and Australia. John Proust, Executive Chairman & Director Extensive resource company board experience and has successfully managed, directed and advised public and private companies regarding debt and equity financing, mergers and acquisitions and corporate restructuring since 1986. Highly regarded in the industry for his management skills and attention to detail, he has held and is holding senior operating positions and has served on the boards of numerous private and TSX Venture Exchange listed companies including current Chairman & CEO of Southern Arc Minerals Inc., Chairman and director of Canada Energy Partners Inc. and CEO and director of New Zealand Energy Corp. Holds designation of Chartered Director (CDir) from McMaster University, Directors College, Michael G. DeGroote School of Business. Michael Andrews, Director A geologist with over 31 years of research and mining industry experience in gold, copper, coal and iron exploration; Fellow of the Australasian Institute of Mining and Metallurgy. President & Chief Operating Officer and Director of Southern Arc Minerals Inc, director of Advance Concept holdings Ltd., Paragon Resources Ltd., managing director of Pacific Goldfields Pty Ltd. Previously director of Kingrose Mining Ltd, operating the underground gold-silver Way Linggo Mine in Indonesia.
3 MANAGEMENT AND DIRECTORS cont d David M. Stone, Director Mining engineer with over 26 years of consulting experience in the metal mining industry with expertise in mining rock mechanics in both open pit and underground operations worldwide. Director of several TSX Venture companies. Kjeld Thygesen, Director 31 years of experience in the mining investment business. Member of Ivanhoe Mines board and managing director of Lion Resource Management. Formerly held various positions with NM Rothschild & Sons and was international mining research analyst at James Capel. Cyrus Driver, Director Chartered Accountant and partner of Davidson & Company, Chartered Accountants Director and CFO of several TSX Venture companies. Harry Atkinson, Non- executive Chairman & Director Chairman of numerous companies with intimate t knowledge and understanding di of business in the sub-sahara African context. Brian Richardson, Chief Financial Officer Chartered accountant with 26 years extensive financial management experience with public and high-growth h h companies. CFO of Southern Arc Minerals Inc. and Bryant Resources Inc.
4 MANAGEMENT AND DIRECTORS cont d Michael O Connor, Manager South Africa Exploration Director of Superior Mining Corp S.A. (Pty) Ltd. since 2004. Managing director of Middelvlei Gold Investments, a gold investment company. Phil Snowden, Senior Technical Advisor Phil Snowden, Senior Technical Advisor Co-founder and former managing director of Snowden Mining Industry Consultants. Formerly Group Structural Geologist, Anglo American. Consulting geologist for global mining industry with a particularly keen appreciation for the South African mining industry.
5 CORPORATE STRATEGY Focus on advancing the Mangalisa Property in South Africa to define a mineral resource. Continue evaluating new opportunities for Company growth. Return value to Shareholders.
6 SOUTH AFRICA: A PROLIFIC MINING-FRIENDLY JURISDICTION South Africa has the world s largest natural resources of gold, platinum group metals, chrome ore and manganese ore, and the second largest resources of zirconium, vanadium and titanium. The mining sector accounts for one third of the country s GDP. Over the next 5 years ZAR110B (CAD$14.2B) will be spent on rail expansion and ZAR450B (CAD$58B) spent on power generation. The Witwatersrand Basin is the world s largest source of gold mineralization - over 1.8 billion ounces of gold produced. Mines are located in 6 major goldfields: Evander, East Rand, Central Rand, Carletonville, Klerkdorp and Free State (Welkom). Current mine head grades are 6 to 10 g/t gold. CDN$1 = 7.6751 ZAR as at February 1, 2012
7 SOUTH AFRICA MANGALISA PROJECT LOCATION Located 270 km southwest of Johannesburg s Oliver Tambo airport. Excellent access on paved roads by way of N1 freeway to Kroonstad, then highway R34 to Welkom. Project is located 25 km east of Welkom. Welkom s population is 200,000.
Witwatersrand Basin 8 204Moz@ 8.4g/t Au 48Moz@ 7.0g/t Au 311Moz@ 8.4g/t Au
9 MANGALISA PROJECT (74% SUI, 13% SUI indirect, 13% BEE) The name Mangalisa is derived from the Zulu word that means caused to be surprised. Potential new discovery of a Witwatersrand Elsburg type gold deposit. Permit covers 196 km 2. Discovery borehole PG-1 intersected Erfenis reef zone. This is a classic 'small-pebble, carbon-rich and wellsorted conglomerate' that is typical of reefs grading 6 to 10 g/t gold in the Free State Goldfield. The Mangalisa project represents one of the last remaining, high potential gold exploration properties within the Witwatersrand'st Free Statet Goldfield.
10 THE FREE STATE GOLDFIELD LOCATION The Mangalisa property is located immediately north of the operating Masimong gold mine opened in 1987 by Anglo and now operated by Harmony Gold. Current Harmony Gold shaft levels are at 2,300 m, exploiting gold resources in a number of reefs. As at the end of year 2011, the Masimong reserves were 1.2M oz gold, and with measured and indicated resources of 18.2M oz of gold. Masimong production in FY2011 was 137,605 oz @ 4.93g/t gold.
11 PLAN OF TARGET AND HARMONY TRENDS The Free State Goldfield has two gold bearing trends: the Target and the Harmony trends, separated by the De Bron Horst. The Free State Goldfield is a very prolific gold producing area with numerous deep shafts in operation. The two trends have produced over 311 M oz gold. The Harmony trend is under-explored where Mangalisa located.
12 Cross-Section of Harmony & Target Trends
13 Archean Alluvial Channel Network
Projected Potential Fans 14
15 MANGALISA DRILL HOLE PLAN Drill hole PG-1 (1987) intersected a quartz conglomerate reef at 775m below surface. In 2007, Superior acquired the Mangalisa property. Two drilling programs were completed during 2009 and 2010, intersecting the same reef and high gold grades. To date USD$4.5M has been spent on the property.
16 MANGALISA SUI 2009-2010 DRILL HOLE SUMMARY SUI drilled Hole RC Mother (core) No. of Deflections Deflection (core) 1 ERF 1 216.3 584.55 4 194.11 2 ERF 2 333.0 0.0 0 0.0 3 ERF 3 403.0 0.0 0 0.0 4 ERF 4 393.0 0.0 0 0.0 5 ERF 5 327.8 972.22 9 505.3 6 ERF 6 327.0 673.0 5 240.8 7 ERF 7 350.0 1,068.0 12 695.0 8 NGT 1 300.0 0.0 0 0.0 9 NGT 2 324.0 726.1 5 265.0 10 NGT 3 400.3 599.7 0 0.0 PG 1 0.0 0.0 4 101.8 Total 3,374.4 4,623.5 39 2,002.0 10 mother holes drilled by SUI for 7,997.90 m 39 deflections drilled by SUI for 2,002 (incl 4 off PG 1) Note: PG 1 mother hole drilled by Glencor (1987)
17 PG1-13 Discovery hole ERF7 SUI core
18 Phase one drilling program was aimed at confirming the original discovery drill hole PG-1 intersection. Two deflections from PG-1 were drilled by SUI, which confirmed the intersection of the reef at 776 m. Results are tabulated below: Drillhole Depth (m) Width(m) Au (g/t) PG 1 12 776.8 045 0.45 45.8 PG 1 13 776.5 0.32 51.1
19 SUI s Phase two drilling program was designed to step out from the original discovery drill hole intercept and build a geological model. Results are tabulated below: Drillhole Depth (m) Width(m) Au (g/t) ERF 7 0 874.10 0.29 36.60 ERF 7 4 873.71 0.24 19.55 ERF 7 6 922.58 0.20 11.94
20 Summary of Results Reef intersections on the Mangalisa property are shallow compared to elsewhere in the area. Typical stoping widths in the Witwatersrand basin are 1.2 m and mining widths are 1.0 m. Current operations are mainly mechanized making mining in small, cramped conditions efficient. Harmony Gold is currently mining reefs to depths down to 2,300 m at a head grade averaging 4.93 g/t gold. Diluting SUI core hole ERF7-0, for example, to a one metre mining width (0.29 m @ 36.66 g/t) equates to 1.0 m @ 10.61 g/t gold. This is a grade about double that of the mining head grade of 4.93 g/t gold at Harmony Gold s Masimong mine. Harmony Gold carrying out a new drilling program immediately south of Mangalisa.
21 Proposed SUI Exploration Program SUI s exploration budget allocated to: Having completed a geology report to NI43-101 standard that t includes historical i exploration work carried out on the Mangalisa property by others as well as all of Superior Mining s 2009 and 2010 drilling. Internal review of the geology report and its conclusions and recommendations under way. D l i l f f t Ph 3 d illi f Developing plans for a future Phase 3 drilling program of 5 core holes to 500 m depth each, up-dip (at shallower levels) from the discovery hole.
22 CAPITAL STRUCTURE Stock Exchange Listing: TSXV: SUI Issued Common Shares*: 57,566,479 Options: 9,757,500 Warrants: 6,139,800 Fully Diluted Shares: 73,463,779 52-Week Trading Range: $0.085 to $0.30 Current Price (as at January 31 st, 2012): $0.095 *As at December 5, 2011 Market Cap (as at January 31 st, 2012): Directors and Management Ownership: $5.47 million 23.3% of issued common shares
23 Basis for the Focus on Mangalisa Located in a 125-year old gold mining district. Prolific Witwatersrands basin that has generated over 1.8B oz gold. No royalties or other similar obligations. Excellent existing infrastructure. Permanently easy access to site 24/7. Large mining camp. Strong support from local government and residents. Large, 19,586.62-ha property that is mostly under-explored. Probable new significant Elsburg type gold discovery.
24 Corporate Office: Box 1078, Suite 1500 885 West Georgia Street Vancouver, BC Canada V6C 3E8 Brent Butler: John Proust: President & CEO Executive Chairman Telephone: +1-604-601-2001 Fax: +1-604-488-0319 E-mail: Web site: info@superiormining.com http://www.superiormining.com
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