Calgary, Alberta based, Superior Canadian Resources Inc., (The Company), today
announced the Revocation of a Cease Trade Order and the Resignation of Ronald
Mann as director
Trading Symbol: TSX-V-Exchange "CAD"
CALGARY, Aug. 6 /PRNewswire-FirstCall/ -
Cease Trade Order
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Today, the Alberta Securities Commission has issued an order revoking the May
13, 2008 cease trade order issued against the Company.
As part of seeking revocation of the cease trade order, The Company has filed
its annual audited financial statements, and management's discussion and
analysis (MDA) for the fiscal year ended December 31, 2007 and for the
three-month period ended March 31, 2008.
Trading of The Company's common shares will remain suspended on the
TSX-Venture Exchange pending completion of a reinstatement trading review
being conducted by the Exchange's compliance and disclosure department.
Director Resignation
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The Company would like to thank Ronald K Mann for the effort and advice
provided during his term as Director. Mr. Mann's resignation, effective as of
07-29-2008, enables him to pursue other business activities.
Ongoing field activities
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Management has reviewed results of the 2007-2008 diamond drill program as
announced in the following news releases (dated November 28, 2007, January 09,
2008 and February 20, 2008) and the magnetic-VLF-EM survey on the O'Sullivan
Lake mine area that was conducted prior to spring breakup.
An additional geophysics program is planned for early fall, on the peninsula
that hosts the mine site, upon completion of an extension to the grid
currently being completed.
Results of the review indicate that the structure hosting the gold
mineralization extends easterly a minimum of 400 metres by diamond drill
intercepts and potentially over 1 kilometer by geophysics.
Diamond drilling is also recommended, and will focus on defining the rake or
plunge to the gold mineralization intersected in the 2007-08 drilling program
and to evaluate the further east and west extensions on the mine structure.
Garry J. Clark P. Geo. (the qualified person as defined by National Instrument
43-101) has reviewed and verified the technical information contained in this
press release.
Renunciation of proposed options News Release Dated October 29, 2007
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The Company has withdrawn the granting of 2,100,000 options as announced in
the above news release.
About Superior Canadian Resources Inc.
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Based in Calgary Alberta, Superior Canadian Resources Inc., has two mineral
exploration projects located in Northwestern Ontario comprised of nickel,
platinum, palladium, copper and gold.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE Superior Canadian Resources Inc.
David Sim, President and CEO, (403) 232-8555, daves@superiorcanadian.ca; Jeff
Shier, Director (416) 550-9857, js@superiorcanadian.ca
