Superior Resources is driving toward near-term gold production at Steam Engine while unlocking major copper discovery potential across multiple high-grade targets. With strong growth drilling underway and a clear path to development, SPQ offers both immediate momentum and significant upside as results and studies advance.

Private Placement Offer to raise up to $1.50M, with the ability to take up oversubscriptions at an issue price of $0.0075.

Options

2 for 3 Free Attaching Unlisted Options. $0.015 Exercise Price and expiring 2.5 years from the date of issuance. 

Black Scholes Valuation of Options: $0.0016  

• Effective entry:  $0.006 (~46.25% discount to last traded price of $0.011 as of 8th December 2025)

Superior Resources Limited (ASX: SPQ) is focused on unlocking significant value through its exploration assets in Northern Queensland, with a combination of near term gold production at the Steam Engine Gold Project and exposure to potentially large-scale copper projects.

• Steam Engine is an advanced gold project with a JORC Resource of 4.18Mt @ 1.5g/t Au for 196,000oz.
• Only 1.2km of a 10km mineralised trend has been drilled — project remains highly underexplored.
• Recent drilling has uncovered new high-grade gold zones, reinforcing strong growth potential.
• Sept 2024 Scoping Study assessed two mining options:
  • Toll treatment: low CAPEX ($6M), fast payback (1.3 years), $67M pre-tax cash flow at A$3,500/oz gold.
  • Stand-alone processing: larger-scale operation, $71M–$104M pre-tax cash flow, NPV7% $42M–$66M, 4.6–4.9-year mine life.
• High-grade mineralisation at the Eastern Ridge Lode highlights strong expansion upside.
• A Feasibility Study is planned for 2026, upgrading the Scoping Study.
• SPQ will drill up to 3,000m to expand resources, targeting 1.5km of newly identified mineralised structure and potential extensions north and south of existing lodes.

The Wyandotte Copper Prospect, part of the Greenvale Project in North Queensland, is recognised as a shallow, high-grade Cu-Au-Ag target that has not been explored since 1975. Historical drilling identified a near-surface, semi-massive chalcopyritebornite copper lode with strong potential for down-dip extensions. Geological interpretation indicates that the deposit is surrounded by four buried porphyry intrusions, suggesting the potential for a large-scale Cu-Au-Mo porphyry system as well as high-sulphidation epithermal Au-Cu-Ag mineralisation.

Historical high-grade intercepts include:

• 10.6 m @ 4.05% Cu
• 18.1 m @ 2.88% Cu
• 19.8 m @ 0.72% Cu

Bottletree is shaping up to be a significant porphyry copper-gold discovery, with confirmed mineralisation over a 2.0km x 1.5km footprint. The project has demonstrated strong potential for multiple porphyry cores and wall-rock zones, with drilling returning 632m @ 0.21% Cu, including 224m @ 0.40% Cu, and higher-grade zones up to 2% Cu, 0.4g/t Au and 5.2% Mo. The next phase of work will focus on deep drilling to test for high-grade core zones.

The historic Halls Reward Copper-Gold Mine is an underexplored brownfields opportunity. Previous drilling recorded 4m @ 8.8% Cu (unassayed for gold), with no modern follow-up exploration. Recent rock chips returned up to 46.5% Cu, 6.58g/t Au and 24.5g/t Ag.