Iamgold closes Northern Superior acquisition

Executive Summary

• Iamgold Corp. has completed the acquisition of Northern Superior Resources Inc. via a plan of arrangement, making Northern Superior a wholly owned subsidiary.
• The acquisition significantly expands Iamgold's Nelligan mining complex in Quebec, positioning it as one of Canada's largest pre-production gold projects.
• Former Northern Superior shareholders received consideration consisting of 0.0991 Iamgold common shares, 19 Canadian cents in cash, and common shares in Ongold Resources Ltd. for each Northern Superior share held.

Key Details

• Transaction Structure: Completed via a plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia).
• Consideration for Northern Superior Shareholders:
  • 0.0991 of an Iamgold common share per Northern Superior share.
  • 19 Canadian cents in cash per Northern Superior share.
  • Concurrent distribution of all common shares in the capital of Ongold Resources Ltd. previously held by Northern Superior.
• Strategic Impact: The acquisition integrates Northern Superior's assets into Iamgold's Nelligan mining complex in the Chibougamau-Chapais region of Quebec.
• Future Plans: Iamgold intends to accelerate exploration programs at Nelligan, Philibert, and Monster Lake to expand mineralization and advance the project to complement the Cote gold mine and its expansion.
• Regulatory Status: Northern Superior shares are being delisted from the TSX Venture Exchange, and an application will be made to cease being a reporting issuer in Ontario, British Columbia, Alberta, and Quebec.
• Reference Document: Full details are contained in Northern Superior's management information circular dated Nov. 10, 2025.

Notable Quotes

• "With the completion of the acquisition of Northern Superior and its assets, Iamgold's Nelligan mining complex in the Chibougamau-Chapais region of Quebec is now among the largest preproduction gold projects in Canada," said Renaud Adams, president and chief executive officer of Iamgold. "We look forward to accelerating our exploration program in the region with a goal of further expansion and extension of the mineralization at Nelligan, Philibert and Monster Lake as we look to continue to grow the mineralization and advance a project that complements both the scale and timing of our Cote gold mine and its forthcoming expansion."