IAMGOLD Agrees to Acquire Northern Superior Consolidating a Premier Mining Jurisdiction

Executive Summary

• IAMGOLD entered into a definitive arrangement agreement to acquire all issued and outstanding shares of Northern Superior Resources Inc. in a court‑approved plan of arrangement.
• Consideration: 0.0991 IAMGOLD common share + C$0.19 cash per Northern Superior share (≈ C$2.05/share), valuing the transaction at ~US$267.4 million and representing a 27.4% premium to VWAP.
• The deal creates the “Nelligan Mining Complex,” combining IAMGOLD’s Nelligan & Monster Lake projects with Northern Superior’s Philibert, Chevrier and Croteau deposits, yielding an estimated 3.75 Moz Measured & Indicated Au and 8.65 Moz Inferred Au – positioning it as the 4th largest pre‑production gold camp in Canada.

Key Details

• Transaction Structure: Court‑approved plan of arrangement under British Columbia Business Corporations Act; requires ≥66% shareholder approval (plus disinterested shareholder threshold) and stock exchange approvals.
• Consideration per Share: 0.0991 IAMGOLD common share + C$0.19 cash → total C$2.05 per Northern Superior share.
• Total Transaction Value: Approximately US$267.4 million; premium of 27.4% to 20‑day VWAP (as of Oct 17, 2025).
• Post‑Closing Ownership: IAMGOLD shareholders ~97%; Northern Superior shareholders ~3% of the pro‑forma company.
• Land Package Expansion: Adds 70,636 ha of claims; total IAMGOLD holdings in Chibougamau district exceed 109,000 ha.
• Resource Estimates (combined complex):
• Measured & Indicated: 3.75 Moz Au
• Inferred: 8.65 Moz Au
• Geographic Proximity: Philibert project lies 9 km NE of Nelligan and 12 km SE of Monster Lake, supporting a central processing facility concept within a 17‑km radius.
• Additional Distribution: Northern Superior shareholders will receive all common shares held by Northern Superior in ONGold Resources Ltd.
• Option on Philibert: Subject to an option for SOQUEM to acquire remaining 25% for C$3.5 million cash.
• Closing Timeline: Expected Q4 2025 or Q1 2026, subject to shareholder, court, and exchange approvals plus customary closing conditions.
• Advisors & Counsel:
• Financial Advisor – National Bank Capital Markets
• Special Advisor – Laurentian Bank Securities Inc.
• Legal Advisor – Norton Rose Fulbright Canada LLP (to IAMGOLD)

Notable Quotes

“The addition of Northern Superior's assets to IAMGOLD's Nelligan Mining Complex … is extremely exciting… This acquisition aligns with our strategy to become a leading Canadian‑focused mid‑tier gold producer…” – Renaud Adams, President & CEO, IAMGOLD.