L’Espérance Diamond Project

On January 15, 2009, the Company signed an option and joint venture agreement with Matamec Explorations Inc. to explore for all commodities on the Wachigabau property which includes the L’Espérance property in the Desmaraisville area of west-central Québec. 

As part of the agreement, Northern Superior is now vested for 100% of the diamond rights in the L’Espérance property. The Company still feels that the property has tremendous potential for diamonds. This is based on the recovery of hundreds of kimberlite indicator minerals (KIMs) from overburden samples, discovery of large, angular kimberlite boulders and the intersection of kimberlite stringers in drill programs completed to date.

KIM geochemistry indicates that the potential for the discovery of diamond-bearing kimberlite is excellent.

Although exploration on the L’Espérance / Wachigabau property is no longer focused on diamonds, the new agreement with Matamec Explorations Inc. allows for the option to continue diamond exploration on the property, if the opportunity to do so arises.