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Superior Mining International Corporation: Private Placement of Convertible Notes


November 6, 2012

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2012) - Superior Mining International Corporation (TSX VENTURE:SUI) (the "Company"), wishes to announce that it intends to arrange a private placement (the "Private Placement") of unsecured convertible notes (the "Notes") to raise gross proceeds of up to $200,000. The lenders may convert all or a portion of the Notes at any time into common shares (the "Conversion Shares") of the Company at $0.10 per share. The principal amount and all accrued and unpaid interest will be payable 12 months from closing, or earlier upon certain stated events. The Notes will accrue interest at 12% per annum. Interest may be paid in cash or shares at the option of the Company. Any shares issued to pay interest ("Interest Shares") will be issued at the market price at the time of payment.

Purchasers of the Notes will also receive detachable share purchase warrants (the "Warrants") entitling them to purchase up to a total of 2,000,000 common shares of the Company (each a "Warrant Share") exercisable at a price of $0.10 per Warrant Share for one year from the date of the closing of the Private Placement.

The financing is subject to the acceptance of the TSX Venture Exchange. The Notes and Warrants and any Conversion Shares and Interest Shares issued will be subject to a four month hold period. Certain insiders of the Company intend to participate in the financing.

The proceeds of the Private Placement funds are to be used for working capital.

On behalf of the Board of Directors of Superior Mining International Corporation

Brent Butler, President and Chief Executive Officer

For more information please contact the Company at: info@superiormining.com

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE INC. DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

THE TSX VENTURE EXCHANGE INC. DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

CONTACT INFORMATION:

Superior Mining International Corporation
Brent Butler
President and Chief Executive Officer
(604) 601-2005
Fax: (604) 488-0319
www.superiormining.com

All of Superior Mining International's news releases made prior to January 2007 can be found on the System for Electronic Document Analysis and Retrieval (SEDAR) at http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007879

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