Northern Superior and ONGold Complete Significant Mining Asset Transaction

TORONTO, ON / ACCESSWIRE / April 30, 2024 – Northern Superior Resources Inc. and ONGold Resources Ltd. have finalized the acquisition and spinout of several Ontario mining projects. The transfer, valued at $5.2 million, involved the issuance of 10,108,843 ONGold Common Shares. This completion marks a pivotal development for both entities, allowing concentrated efforts on advancing the Ti-pa-haa-kaa-ning and October Gold properties.

ONGold, formerly known as 1348515 B.C. Ltd., will commence trading on the TSX Venture Exchange under the new ticker "ONAU" starting May 3, 2024. Northern Superior now holds a substantial 72.35% stake in ONGold, translating into 35,686,686 Common Shares. This strategic positioning is expected to leverage the exploration and development capabilities of ONGold, particularly focusing on the promising TPK Project in Ontario.

The fruitful closure of this transaction is anticipated to enhance the value of Northern Superior’s holdings, emphasizing an optimistic future for the stakeholders of both companies. Meanwhile, ONGold is set to propel its newly acquired assets with sufficient funding and a restructured leadership aiming at substantial growth and community engagement with First Nations partnerships.