Superior Resources Limited announced the grant of the last outstanding exploration permit (EPM27932) in its Dido/Big Mag Project, which covers the expansive Dido Batholith and Big Mag igneous complex. The grant effectively secures what is likely to be the only confirmed Voisey's Bay/Julimar-style Ni-Cu-PGE magmatic sulphide mafic-ultramafic igneous complex in Queensland. The grant of the tenement expands the Ni-Cu-PGE project to 1,158 km2 and the overall Greenvale Project to 1,749 km2.

Prior to substantial data generation, academic research and initial follow up work by Anglo American up to 2012, the Dido Batholith and Big Mag had received little or no exploration and certainly no exploration for magmatic Ni-Cu-PGE sulphides. Exploration work conducted by Anglo American over a five-year period has provided an enormous and valuable dataset that includes over 5,000 line-kms of high-quality airborne and ground geophysical survey data, soil geochemistry and geological mapping data, limited initial drill hole results and the results of petrographic and academic research on the prospective rock types. KEY POINTS: Superior receives grant of third exploration permit (EPM27932) to secure the Dido Intrusive Complex, with confirmed potential to host Voisey's Bay /"Julimar-Gonneville" style Nickel-Copper-PGE magmatic sulphide systems; Resulting from an Australia-wide Ni-Cu-PGE "Voisey's Bay-style" targeting program during 2004, Anglo American Exploration (Australia) Pty Ltd. ranked the Dido Batholith in the top 10 of 100 priority target areas identified across Australia; Limited drilling by Anglo American confirmed the presence of fertile host rocks carrying magmatic sulphide mineralisation with up to 133m @ 0.12% Ni and 105m @ 0.14% Ni (up to 0.58% Ni, 0.28% Cu, 290ppb Pd, 220ppm Pt); Academic consultants considered these intrusions to show "striking similarities [to] those that host the [world-class] Lac des IIes Pd-Pt deposit"; Anglo American concluded "mafic and ultramafic intrusive complexes that were previously unknown in the area do in fact exist and have the potential to host Ni-Cu-PGE sulphide deposits similar to that at Voisey's Bay" and their drill results "are considered to be very significant" and show that "(i) the rights rocks are present, (ii) there are multiple untested intrusions and (iii) the magmas are fertile ­ all of which are very encouraging for further Ni [sulphide] exploration"; Numerous (>40) magnetic and EM conductor targets identified by Anglo American; only two targets drilled; positive drill holes received no further follow-up; numerous high-quality targets not followed up; Superior is in a sector-leading Ni-Cu-PGE position, aided by the advantage of having enormous amounts of modern exploration data generated by Anglo American on proven Ni-Cu-PGE magmatic sulphide terrain, including large, high resolution airborne geophysical surveys totaling more than 5,070 line-kilometres and information from petrographic and academic studies on key rock types; Forward plans include continuing geophysical interpretation of airborne electromagnetic (EM) and induced polarisation (IP) survey data to identify EM conductor and IP chargeability targets, field inspections of priority targets and preparation of drill programs.