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Northern Superior Reports on Progress of its $110 Million Lawsuit Against Government of Ontario
|By Marketwired .
|August 27, 2014 08:30 AM EDT
SUDBURY, ONTARIO -- (Marketwired) -- 08/27/14 -- Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSX VENTURE: SUP) reports the following progress on the Company's $110 million lawsuit against the Government of Ontario:
1. Since the appointment at the Company's request of a Judge to manage its
case against the Ontario Government, lawyers for Northern Superior and
the Government of Ontario have attended three (3) case conferences
before Mr. Justice Lederer of the Ontario Superior Court of Justice;
2. As a result of these case conferences, various outstanding procedural
issues have now been resolved and the case can now move to the next
3. Northern Superior obtained further documentation previously undisclosed
by the Ontario Government, and on August 21, 2014 delivered its final
"Reply" in response to the Ontario Government's "Fresh and Amended
Statement of Defense" (copies of all pleadings can be found on "Northern
Superior's website www.nsuperior.com under the heading "Claim"); and
4. Northern Superior and the Ontario Government have agreed that in
addition to managing procedural aspects of the court action, Justice
Lederer will also hear and rule on the merits of the case.
As the next stage in this process, Northern Superior has given notice of its intention to bring a motion before Justice Lederer for decision on several key issues, central to the case. It is expected that a timetable leading up to a hearing on these issues in late 2014 or early 2015 will be set in mid-September.
Northern Superior will keep its shareholders apprised of developments as they occur.
About Northern Superior
Northern Superior is actively exploring four key mineral properties: Croteau Est, Lac Surprise, Grizzly and Ti-pi-kaa-haa-ning ("TPK"). These mineral properties represent regional-scale exploration programs, either 100% owned and operated by Northern Superior, or Northern Superior having the right to earn a 100% interest in the properties. Exploration to date has identified numerous drill-ready targets for gold, copper and silver mineralization on the TPK property in northwestern Ontario, gold/volcanic copper-zinc-silver and magmatic nickel-copper-platinum-palladium mineralization are targeted on the Grizzly property, and shear -- hosted gold on the Company's Croteau Est and Lac Surprise properties. Grizzly, Lac Surprise and Croteau Est mineral properties are all located in west- central Quebec.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act or 1995 (collectively, "forward looking statements"). Forward looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved or other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Northern Superior are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Northern Superior's expectations include exploration risks, changes in project parameters as plans continue to be refined, results of future resources estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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