Northern Superior Obtains Final Order Approving Plan of Arrangement

On December 15, 2025, Northern Superior Resources Inc. ("Northern Superior" or "the Company") announced it has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement with IAMGOLD Corporation ("IAMGOLD"). Under the arrangement, IAMGOLD will acquire all issued and outstanding common shares of Northern Superior. Shareholders will receive C$0.19 in cash and 0.0991 of an IAMGOLD common share for each Northern Superior share held. Additionally, shareholders will receive shares in a newly formed spin-out company, ONGold Resources Ltd. ("ONGold"), on a pro-rata basis. The arrangement is expected to close on or about December 19, 2025, subject to customary closing conditions.

The final court order is the last major prerequisite for the closing of the acquisition by IAMGOLD. The deal was announced on October 20, 2025, and overwhelmingly approved by shareholders on December 10, 2025 (99.03% in favour). This final approval removes the last significant transactional risk, providing shareholders with certainty that the deal will be completed as planned.

The impact is materially positive as it locks in the value proposition for shareholders, which consists of a cash component, shares in a major gold producer (IAMGOLD), and shares in a well-funded exploration spin-out (ONGold). While the initial acquisition announcement was the game-changing event, this final approval de-risks the transaction entirely and confirms the imminent payout for investors. The investment thesis for Northern Superior now effectively transforms into a completed arbitrage play, with the value realized upon the expected closing on December 19, 2025.

The timeline of events shows a company that successfully executed its exploration and consolidation strategy, culminating in a logical and valuable exit for its shareholders. The consistent positive drill results throughout 2025, particularly at the Philibert project, directly led to this acquisition, demonstrating management's ability to create shareholder value through the drill bit.

Northern Superior Resources is a Canadian gold exploration company that was focused on consolidating and exploring the Chibougamau Gold Camp in Québec. Its flagship asset is the Philibert Project, located 9 km from IAMGOLD's Nelligan gold project. The company also held other prospective projects in the camp, including Chevrier, Lac Surprise, and Croteau. Through a systematic exploration program in 2025, Northern Superior significantly expanded the known mineralization at Philibert, demonstrating its potential to be a large, cornerstone asset. This success directly culminated in the acquisition by IAMGOLD, aimed at consolidating the district into a new "Nelligan Mining Complex."