TSX-V: SUI VANCOUVER, July 25 /CNW/ - Superior Mining International Corporation, formerly "Superior Mining Corporation" (the "Company") is pleased to announce that the Company has now completed its previously announced (June 8, 2006) private placement (the "Private Placement") pursuant to which the Company has now issued from treasury an aggregate of 16,000,000 common shares of the Company (each a "Share") at a subscription price of $0.25 per Share. A 7% cash finders' fee will be paid by the Company as a consequence of the successful completion of the Private Placement. The Company has now utilized approximately $1,700,000 of the $4,000,000 in gross proceeds from its Private Placement to pay the balance of the Company's shareholder loan to maintain its 50% interest in Pamodzi Gold under its previously approved Shareholders' Agreement with Pamodzi Resources (Pty) Limited. The principal asset of Pamodzi Gold (Pty) Limited is the Middlevlei Gold Project. The balance of the gross proceeds, less the applicable finders' fees, will be utilized to pay the Company's current accounts payable and for administration, general corporate purposes and working capital. Each of the Private Placement Shares are now subject to a hold period as to its transferability in Canada expiring on November 20, 2006, in respect of 9,695,000 of the Shares, and November 22, 2006, in respect of the balance of 6,305,000 of the Shares, in accordance with the provisions of Multilateral Instrument 45-102 Resale of Securities. The Company is an early stage exploration and near term producer focused on the mining of gold prospects in the central Witwatersrand region of South Africa. On behalf of the Board of Directors of Superior Mining International Corporation "John Proust" John Proust President & CEO 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. %SEDAR: 00007879E