Supreme Metals Corp. Models 2 Magnetic Anomalies on its Bloom Lake East Property, Labrador
545 Granite Street
Sudbury, Ontario P3C 2P4
Tel: 705 690-8118
Supreme Metals Corp. Models 2 Magnetic Anomalies on its
Bloom Lake East Property, Labrador
Sudbury, Ontario – March 12, 2019 - Supreme Metals Corp. (the “Company” or “Supreme”) (CSE: ABJ)
(FSE: A68) today announced the preliminary results of geophysical modeling on its Bloom Lake East
Property in Labrador.
The Company’s consultant geophysicist, Dr. Alan King, P.Geo., of Geos cience North generated
unconstrained 3D geophysical inversion models from the new drone magnetic data collected over the
Main and North Zone using Geosoft Voxi magnetic inversion software. Being aware of this the reader
should bear in mind that the following range of quantities and grades is an exploration target and tha t
the potential quantity and grade is conceptual in nature, and there has been insufficient exploration
to define a mineral resource and it is uncertain if further exploration will result in these geophysical
targets being delineated as a resource. So, using a minimum magnetic susceptibility of .01 SI or greater,
to a depth of 300 metres, a magnetic volume of 3.7 billion cubic metres was determined for the Main
Zone magnetic anomaly. For the more magnetic North Zone a minimum magnetic susceptibility of 0.25
SI was used to determine a volume of 110 million cubic metres of magnetic material. To be conservative
on the volume calculations, a cutoff depth of 300 metres was used despite the inversion model
suggesting a total depth extent of the magnetic an omalies of at least 1,000 metres. Modeling was
confined only to the area flown in the recent drone survey and did not evaluate the additional staked
area.
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Magnetic First Vertical Derivative drone survey data over the Bloom Lake East Main Zone overlain on
Google Earth imagery showing Champion Iron’s Bloom Lake Mine Operations . Areas of high magnetic
responses are indicated by the dark blue purple colour.
Main Zone plan v iew of the 0 .01 SI magnetic susceptibility isosurface (dark gray) with the coloured
surface magnetic first vertical derivative data.
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Isometric view from the SE of the 0.01 SI magnetic susceptibility isosurface (dark gray) of the Main Zone
to a depth of 1,000 metres with the coloured surface magnetic first vertical derivative data.
Isometric view from the SE of the 0 .1 SI magnetic susceptibility isosurface (dark gray) of the Main Zone
to a depth of 1,000 metres with the coloured surface magnetic first vertical derivative data.
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In addition, another calculation was done using a 0.1 SI magnetic susceptibility shell on the Main Zone
which yielded a volume of 408,000,000 cubic metres for the Main Zone as displayed in the image on the
page above.
Supreme’s CEO, Bob Komarechka, P.Geo, commented:
“The Company is intrigued by the recent targeting of a large strong magnetic anomaly exhibiting
characteristic signatures of an iron formation located in the area of historic grab samples from the Nip
West showing yielding assays from 3.63% to 59.9% soluble iron .1 Note that grab samples are selected
samples and the value of 59.9% soluble iron is unusually high and should not be considered as
representative of the average iron mineralization on the property . H aving this anomaly fortuitously
located less than 3 kilometres from Champion Iron Mine’s active mill site and being near the operating
Bloom Lake open pit mine that indicates geologic continuity, is very exciting.
Supreme is very fortunate to have secured the geophysical modeling services of geophysicist Alan King
of Geoscience North Ltd. Alan King was the Manager of Geophysics with responsibility for global
exploration for INCO and subsequently Chief Geophysicist for Vale Global Exploration which included
geophysical applications for iron exploration.
It is important to note that the ratio of nonmagnetic hematite to magnetite is not precisely known on
the property nor is the amount of gabbro or magnetic remanen ce that may exist, so the magnetic
susceptibility volume derived from the drone magnetic survey cannot be used to directly infer any iron
grades. Any potential quantity and gra de is conceptual in nature, and there has been insufficient
exploration to define a mineral resource and it is uncertain if further exploration will result in the se
geophysical targets being delineated as a resource . As a result, aside from the historic samples, no
reference to grades will be given. While it is recognized that these magnetic volumes do not in any way
represent a resource, at this time, they do indicate the potential for significant sized magnetic bodies
that need further exploration. The recent signing of a Joint Exploration Program with Champion Iron
Limited on this property further substantiates this need and the potential of the Bloom Lake East
Property.”
Supreme would also like to acknowledge the Newfoundland Labrador Natural Resources Junior
Exploration Assistance (JEA) Program in their financial support of the drone survey that collected the
magnetic data on the Bloom Lake East Property.
About the Bloom Lake Property
The Bloom Lake East Property is located near the Labrador, Newfoundland Qu ebec border between the
Bloom Lake iron mine of Champion Iron Mines in Quebec and the Wabush iron Mines of Iron Ore
Company of Canada (managed by Rio Tinto) in Labrador.
The property, previously held by Rio Tinto, was initially acquired by Supreme for its cobalt potential with
the presence of numerous iron occurrences in the area being recognized. New high resolution drone
magnetic surveys and geophysical modeling on the new data has been completed. On review of the
1 Newfoundland Labrador Mineral Database, National Mineral Inventory Number: O23B14/Fe 016, Record Number: 4133,
Deposit Name: Nip Lake West, Metal Mineral Content.
(Note that the value of 59.9% soluble iron should not be considered as representative of the average iron mineralization.)
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drone magnetic data and geophysical mode lling additional claim acquisition s in the area were
undertaken. Currently Supreme holds 14 claims in the area totaling 126 cells consisting of 3,150 ha
Previous exploration work on the property consisted of rudimentary regional mapping, regional
aeromagnetic surveys and the drilling of several drill holes in the western 2 blocks. The result of the
earlier mapping had indicated the presence of the iron ore bearing Sokoman/Wabush Formation on the
East Bloom Lake Property. This is the formation from which the iron is mined by the two major mining
companies in this area.
A Joint Exploration Agreement on this property was entered into on January 18, 2019 with Champion
Iron Limited, as described in a press release dated January 21, 2019.
Qualified Person
Mr. Robert Komarechka, P.Geo. a Qualified Person under NI43 -101 regulations, and chief executive
officer of Supreme Metals Corp., has supervised the scientific and technical information that forms the
basis of the written disclosure.
About Supreme Metals Corp.
Supreme Metals Corp. (CSE: ABJ) (FSE:A68) 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
CEO
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
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