IAMGOLD Completes Acquisition of Northern Superior, Bolstering Québec Gold Ambitions

Acquisition Unifies Key Gold Properties in Québec

IAMGOLD (NYSE:IAG, TSX:IMG) has officially closed its acquisition of Northern Superior Resources, bringing a significant consolidation to Québec’s gold exploration landscape. Northern Superior—focused on the prolific Chibougamau Camp and with over 70,000 hectares of land—now becomes a wholly-owned subsidiary of IAMGOLD following a plan of arrangement.

This move positions IAMGOLD to leverage Northern Superior’s promising assets, particularly adjacent to IAMGOLD’s own flagship operations, as the company sharpens its focus on developing one of Québec’s largest mining complexes.

Transaction Details: Shareholder Exchange and Strategic Value

Former Northern Superior shareholders are entitled to receive, for each share held prior to closing:

*Rounded for readability; actual ratio distributed: 0.19574 ONAU share per Company Share

The arrangement also distributes all previously held ONGold Resources shares to former shareholders of Northern Superior, effectively broadening their exposure to the evolving mining ecosystem in the region.

Strategic Rationale: Expanding a Québec Powerhouse

Northern Superior’s outgoing CEO, Simon Marcotte, highlighted IAMGOLD’s proven success in developing the Côté Gold mine and noted that the acquisition lets IAMGOLD unlock the value of a unified mining camp in Québec. The Côté Gold mine—achieving nameplate capacity in June 2025—solidifies IAMGOLD’s operational momentum, increasing its influence and efficiency across its assets.

With 3,700 employees globally and a growing portfolio of mines and early-stage exploration projects, this acquisition is poised to create economic and social ripple effects throughout Québec, potentially establishing the province’s next major gold mining hub.

What’s Next for Shareholders: Tax Planning and Delisting

The Company Shares of Northern Superior will be delisted from the TSX Venture Exchange, and applications are in process for it to cease as a reporting issuer in Ontario, British Columbia, Alberta, and Québec. Eligible former shareholders may defer capital gains on the share exchange by making a Section 85 Election within 120 days of the transaction’s close. Forms will be available through IAMGOLD’s website, and consulting a tax advisor is encouraged for potential filers.

Key Takeaway: IAMGOLD’s Consolidation Signals Confidence and Ambition

This acquisition marks another decisive step for IAMGOLD as it strengthens its Québec presence and aligns its assets for future growth. With the addition of Northern Superior’s extensive land base and diversified projects, IAMGOLD is positioned to not only scale production but also to create long-term shareholder value and regional economic development.

Shareholders and market watchers will want to monitor how IAMGOLD’s expanded camp in Québec evolves, particularly as the company leverages its operational expertise and newly consolidated properties for the next phase of growth.

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