CORRECTION FROM SOURCE: Superior Copper Completes $270,000 Non-Brokered Private Placement of Convertible Promissory Notes

Toronto, Ontario--(Newsfile Corp. - August 12, 2013) - This Superior Copper Corporation (TSXV: SPC) ("Superior Copper" or the "Company") press release corrects and replaces the press release issued at 5:05 p.m. (Eastern Time) on August 1, 2013. The correction is to the number of finder’s warrants issued, which number should have read 117,600, not 111,760. The complete corrected press release follows.

Superior Copper Corporation is pleased to announce that it has completed a non-brokered private placement financing (the "Financing") as previously announced on June 27, 2013.

The Financing consisted of the sale of $270,000 aggregate principal amount of convertible promissory notes ("Notes").

The Notes are due two years from the date hereof (the "Maturity Date") and bear interest at a rate of 8.0% per annum, payable monthly. The holder is entitled to convert all or any portion of the unpaid principal amount of the Notes into units of Superior Copper ("Units") at a price of $0.10 per Unit. In the event that the 20-day weighted average trading price of Superior Copper’s common shares ("Shares") on the TSX Venture Exchange (the "TSXV") is at least $0.25 at any time prior to the Maturity Date, Superior Copper is entitled to require the holder to convert all or any portion of the unpaid principal amount of the Notes into Units at a price of $0.10 per Unit.

Each Unit will be comprised of one Share and one Share purchase warrant ("Warrant"), with each Warrant being exercisable for one Share at an exercise price of $0.15 on or before the Maturity Date. Where the closing price of the Shares on the TSXV is at least $0.25 for a period of 20 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants by giving notice to the holders of Warrants that the Warrants will expire 30 days later.

The Financing remains subject to the final approval of the TSXV. The securities issued pursuant to the Financing will be subject to a statutory four month and one day hold period from the date of closing. In connection with the Financing, an eligible finder was paid a cash commission of $11,760 and was issued 117,600 Warrants.

The Company intends to use the proceeds of the Financing for general working capital purposes.

Superior Copper Corporation

Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the increasing global demand. The Company has two key exploration projects: the Batchawana Copper Project and the Rivière Doré Project in Quebec.

For further information please contact:

Judy Baker, Chief Executive Officer
Tel: 416-214-2222
Email: jbaker@superiorcopper.ca

Brian Howlett, President & CFO
Tel: 416-214-2275
Email: bhowlett@superiorcopper.ca
Website: www.superiorcopper.ca

CAUTIONARY STATEMENT: Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this News Release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements address future events and are based on assumptions relating to, among other things, the results of financing activities and the Company's financial condition and prospects, by their very nature they involve inherent risks and uncertainties, and thus actual results could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this News Release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.