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Supreme Metals Corp. Drilling Encounters 10.84 metres of 1.24% Li2O on a Newly Discovered Pegmatite on its Alberta II Lithium Property in Galicia Spain and Update on Other Properties

SUDBURY, Ontario, March 19, 2019 (GLOBE NEWSWIRE) -- Supreme Metals Corp. (the “Company” or “Supreme”) (CSE:ABJ) (A68.F) is pleased to announce today the assay results of its diamond drill program on the northern extent of its Alberta II Property in Galicia Spain which began on January 15, 2019.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3388a28c-40ed-43d5-aeb7-e2029267d1c7

DDH From
True Width
ABII-11-01 171.95 173.95 1.81 0.20 0.010 0.044
ABII-11-02 185.70 187.25 1.35 0.10 0.008 0.031
ABII-11-03 96.51
ABII-11-05 144.33
ABII-11-06 12.2
ABII-11-07 6.44 8.25 1.58 0.59 0.005 0.008
ABII-11-09 71.10
ABII-18-01 59.30
ABII-18-02 81.85

Table of assays from previous drilling compared with the two holes of this program, ABII-18-01 and ABII-18-02, showing their true width intersections. Hole ABII-18-01’s 10.84 metre intersect with PEG1.E has the highest lithium grades and widest intersect encountered to date on the Alberta II Property.

A section of the drilling illustrated below for ABII-18-01 and ABII-18-02 shows that PEG1.E does not outcrop.  A conceptual projection of a downward widening pegmatite dike may suggest the convergence of the 2 dikes to form a larger body.  This concept remains to be determined.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/780abe84-1f9e-4653-9008-ed6d0915119d

About the Alberta II Property

The Alberta II Property is lithium (with associated tin and tantalum) advanced stage exploration project located in Northwest Iberia, in the Spanish Province of Galicia and has an exploration area of 10 square kilometers (15 Mining Squares of the Spanish Mining Grid).

Extensive regional exploration work has included detailed mapping, soil geochemistry using multiple techniques, remote sensing using high-resolution satellite imagery and low altitude flights using UAVs – Unmanned Aerial Vehicles, equipped with high-resolution multispectral cameras, and one 3,075 metre diamond drill program consisting of 10 diamond drill holes. Work to date has defined a lithium bearing pegmatite swarm can be followed along strike for more than 1,300 metres within a corridor of 800m wide.

The Alberta II Property, as per the report titled “Technical Report Next Venture Resources Ltd. Alberta II Project Country of Spain” dated June 1, 2012, and filed on the SEDAR website on Dec. 5, 2018, shows a historical estimate of 12,342,000 tonnes of 2,038 ppm lithium along with 440 ppm of tin and 99 ppm of tantalum. This historical estimate would result in a grade equivalent of 2,245 ppm Li or 0.48% Li2O.  This grade equivalent represents a historical estimate of 25,154 tonnes of lithium, 1,221 tonnes of tantalum and 5,429 tonnes of tin. These calculated tonnages are historical estimates as they are based on a resource disclosed in a technical report by a previous company that held the property and is not a current resource estimate.  Two site visits on the property by the QP of this press release included confirmation of hole locates and duplicate assay values confirm the relevance and reliability of the historical estimate. The report involved use of geological mapping, surveyed drill hole data, and assaying, all done under the supervision of a Professional Geologist in accord with NI 43-101 standards to prepare the historical estimate. Data has been continually collected on this property since the report and has been reported in press releases as acquired. Currently an updated NI 43-101 is now in the process of being prepared on the property.  This work involves resurveying the drill holes and re-assaying the core by several different methods as well as more detailed geological and structural mapping and undertaking more drilling in areas of limited drilling. While some additional resampling, geological mapping and re-assaying have been done by a qualified geologist this is not sufficient and more needs to be done to classify the historical estimate as current mineral resource. Note that the issuer is not treating the historical estimate as current mineral resources or reserves.

The property is currently under an active exploration permit granted to Strategic Minerals Spain, S.L. with granted mineral rights for lithium, tin, tantalum and niobium under a contract with the Spanish Government with the name Alberta II, number OU/C/05186 valid until December 29, 2020, with exclusive rights to apply for a mining concession.  Access to the site to conduct exploration was granted by formal agreements with landowners and other stakeholders.  All permits required for the work done and proposed have been obtained or are being applied for.  At this time there are no known, legal, political, environmental or other risks that could materially affect the development of the mineral resource.

Supreme’s CEO, Bob Komarechka, P.Geo, commented:

“The Company is very pleased with the effective targeting of Salamanca Ingenerios in their methodical collection of data culminating in the blind drill discovery of a new pegmatite body on the Alberta II Property.  A consolidation of further data is now in progress to consider further drilling on the property.”

About the Drill Program

A 311 metre drill program consisting of 2 HQ holes was completed on January 30, 2019. The core from these holes has been logged, sampled, sawn and sent out for assaying on February 4, 2019.  A total of 56 samples (inclusive of standards, blanks and duplicates), 32 from hole ABII-18-01 and 24 from hole ABII-18-02, were sent for analysis. Note that this is a correction from the 64 samples reported in the earlier press release of February 25, 2019.  In addition, another 81 samples from an earlier drill program were sent out for further resampling.

This drill program was focused on evaluating the northern extent of one of the pegmatite bodies on the property with the intent of increasing the existing inferred resources on the Alberta II Property.  During this drill program the anticipated downward extension of a nearby outcrop of pegmatite was encountered in two drill holes.  Surprisingly, toward the proposed end of each hole, a second new pegmatite body was intersected and the holes were extended to the end of this second pegmatite.  A minor third pegmatite intersection also occurred in one of the holes. No surface expression of the second or third pegmatite was exposed on surface and their discovery was a pleasant surprise.  The table below gives further information on the drill program is contained in the press release of February 25, 2019 for further information on this drill p5rogram.

The drill program sampling and QA/QC was supervised by Salamanca Ingenerios with the drilling being conducted by Sondeos y Perforaciones Industriales del Bierzo SA.

The drill core is currently being stored along with core from previous Alberta II drilling at Strategic Minerals Spain, S.L.’s Penouta Mine Core storage facilities.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/30a9b623-772a-4000-97bf-3feda23ebe6b

Sampling, Quality Assurance and Quality Control

Standard Industry care was taken on the sampling process, watches and jewelry were not worn by samplers, no use of sunscreen or insect repellent or SMOKE over samples as cigarette ash contains arsenic and it will contaminate samples.  Each sample has a single and unique code (barcode) and number, to which the geologist addresses all the information that was predefined to record drill hole ID, lithology, description or other necessary notes for assay or analytical service.  All samples are kept at guard and direct supervision of the geologists, until they are stored in closed facilities to be packed and shipped to the laboratories.  There was no handling of samples, until they reached the laboratory.

The core was sawn in two halves over the sampled intervals with one half being retained. A total of 45 core samples were selected based on on lithology intervals and extending out to the host rock (pointed out as void of any related mineralization). At least one control sample was inserted on every 10 samples) 4 CRMs, 3 Blank samples, 2 pairs of duplicates (DUP) were included and requested to the laboratory to perform 2 additional pairs of crushing stage (LAB DUP). All the analytical services passed the QC tests without any reportable deviations to the lab. Samples were shipped to ALS Laboratories in Camas (Seville) Spain. Samples were ground split and pulverized giving 1000g t0 85% um. The analytical processing was done at ALS Vancouver located at 2103 Dollarton Hwy, North Vancouver, BC, Canada using ALS code ME-MS89L Super Trace DL Na2O2 by ICP MS.

Supreme Metals Corp. Activities on Other Properties

Mount Thom IOCCG Property, Nova Scotia

A small MMI (Mobile Metal Ion) soil survey was conducted on the Mount Thom Nova Scotia IOCCG (Iron Oxide Copper Cobalt Gold) Property by International Cobalt Corp.  This survey expanded the area of previous MMI coverage and located several new cobalt anomalies.

Foster Marshall Cobalt Property, Ontario

Due to an effort to concentrate funds and activities on it’s more promising properties the Foster Marshall Property was allowed to lapse. No work was done on this property under the option with International Cobalt Corp.

Bloom Lake Walsh Cobalt Property Quebec

Further to the signed joint exploration agreement with Champion Iron Mines Limited allowing Supreme’s evaluation of the Walsh Cobalt Showing, a meeting was scheduled at the PDAC in Toronto.  During this meeting digital data concerning the area of the Walsh Cobalt Showing was given to Supreme Metals Corp. in preparation of its exploration program on the Walsh Cobalt Showing.

The Walsh Cobalt Showing is a very interesting cobalt occurrence containing cobalt and possibly linnaeite with historic assays of up to 11% cobalt1.  Subsequent historical assays revealed up to 6% cobalt2.  The Walsh Cobalt Showing lies within the mine leases of the Bloom Lake Mine.  It is quite probable that the historic samples were grab samples.  Note that grab samples are selected samples and the value of 11% and 6% cobalt are unusually high and should not be considered as representative of the average cobalt mineralization on the property.

Qualified Person

Mr. Robert Komarechka, P.Geo. a Qualified Person under NI43-101 regulations, and chief executive officer of Supreme Metals Corp., has reviewed and approved the scientific and technical information that forms the basis of the written disclosure.

About Supreme Metals Corp.

Supreme Metals Corp. (CSE:ABJ) (A68.F) is a Canadian based exploration company with a focused approach in the area of green and energy metals in the Western World adjacent to anticipated downstream manufacturing projects that will have a significant need for these metals.

On Behalf of the Board,

Bob Komarechka

Tel: 705 690-8118

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.

1 Quebec Department of Mines, Mineral Deposits Branch, Rpt. GM 01689 Report on Walsh Cobalt Group. Mount Wright Area P.Q., by D. M. MacKeracher, 1952, pages 3-4.

2 Rapport Préliminaire Sur La Région De Normanville, Report No. 413, District Électoral De Sagueny par P. J. Clarke, Province De Québec, Canada, Ministére Des Mines, 1960, page 14.