Supreme Metals Corp. Announces Start of Drilling on its Alberta II Lithium Property in Galicia Spain
545 Granite Street
Sudbury, Ontario P3C 2P4
Tel: 705 690-8118
Supreme Metals Corp. Announces Start of Drilling on its Alberta II Lithium
Property in Galicia Spain
Sudbury, Ontario – January 21, 2019 - Supreme Metals Corp. (the “Company” or
“Supreme”) (CSE: ABJ) (FSE: A68) today announced the closing of its acquisition of Iberian
Lithium Corp. (“Iberian”) as previously announced on October 23, 2018, and commencement of
a diamond drill program on Iberian’s Alberta II Property in Galicia, Spain.
About the Alberta II Property
The Alberta II Property is a 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 that 1,300 metres within a corridor of 800m wide.
The Alberta II property is stated, as of June 1, 2012, to have inferred NI 43 -101 resources of
12,342,000 tonnes of 2,038 ppm lithium along with 440 ppm of tin and 99 ppm of tantalum.
This resource would result in a grade equivalent of 2,24 5 ppm Li or 0.48% Li2O. This grade
equivalent represents a resource of 25,154 tonnes of lithium, 1,221 tonnes of ta ntalum and
5,429 tonnes of tin.
The property is currently under an active exploration permit granted to Strategic Minerals
Spain, S.L. with g ranted 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 potential development of the mineral resource
About the Drill Program
This drill program will evaluate the northern extent of one of the larger pegmatite bodies on
the property with the intent of increasing the existing inferred resources on the Alberta II
Property. The drill program is being supervised by Salamanca Ingenerios with the drilling being
conducted by Sondeos y Perforaciones Industriales del Bierzo SA. The number of holes to be
drilled will be determined by the existing prepaid budgeted funds.
Acquisition Terms
In consideration for the Acquisition, Supreme i ssued 35 million common shares and 115 million
nonvoting, convertible series 1 preferred shares in the capital of Supreme (the “Preferred
Shares”) to the shareholders of Iberian Lithium at a deemed price per share of $0.02.
The terms of the Preferred Shares provide, among other things, that they: (i) are non -voting; (ii)
are convertible into common shares of the Company ("Common Shares") on a one for one
basis, subject to customary adjustments; (iii) are eligible to participate in dividends if and when
declared on the Common Shares; (iv) have priority rights on liquidation; and (v) are subject to a
restriction that no holder of the Preferred Sh ares may convert into a number of Common
Shares that would result in such holder beneficially owning greater than 9.99% of the Common
Shares.
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 c ontain 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.