Calgary, Alberta based Superior Canadian Resources Inc. (TSX VENTURE:CAD) (the
Company) today announces a Corporate Private Placement 


Corporate Update:

The Company has received approval from the TSX-Venture Exchange (the "Exchange")
as to a proposed private placement of up to 25,000,000 shares at $0.01 per share
subject to the requirements of Policy 4.1, Private Placements, and the Temporary
Relief Measures as detailed in the Exchanges Notice to Issuers dated November 3,
2008. 




Initial Placement: $ 250,000 consisting of 500 units valued at $ 500.00 per
                   unit.

Issuance of:       25 million shares at $ 0.01 per share in units of
                   $ 500.00 value plus warrants;

Units:             500 units valued at $ 500.00 per unit, consisting of
                   30,000 flow-through shares and 20,000 common shares for a
                   total of 50,000 shares

Warrants:          Two year warrants based on a per unit basis:

                   Each warrant unit consists of 50,000 common shares
                   exercisable at $0.05 cents per share in the first 12
                   months from closing and $0.10 cents per share in the
                   second 12 months from closing.

Commission:        There is a 10 % commission structure based on total
                   amount raised under the private placement plus warrants
                   exercisable over a 24 month period as listed above.



The flow-through portion of the financing will be utilized as an exploration
budget comprised of geophysical work at the O'Sullivan Lake gold project and a
summer exploration program of till sampling on the Sim Lake project.


Annual General Meeting:

The Board of Directors has set the Annual General Meeting (AGM) for mid May
2009, in Toronto, Shareholder notification of time and place will be distributed
in early April 2009.


Trading of Shares:

Trading in the Company's shares has been suspended pending resolution of an
issue with its Transfer Agent. This issue is expected to be finalized upon
completion of the proposed financing.


About Superior Canadian Resources Inc.

Based in Calgary Alberta, The Company has two mineral exploration projects,
(gold, nickel, platinum, palladium & copper) in Northwestern Ontario. 


Shares Outstanding: 47,121,918
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