SOURCE: Supreme Resources Ltd.

February 17, 2011 10:03 ET

New Quartz Vein and Adits Discovered at Ample Gold Max

COQUITLAM, BC--(Marketwire - February 17, 2011) -


SUPREME RESOURCES LTD 3620 Crouch Avenue Coquitlam, BC V3E 3H4

Trading Symbol: SPR - TSX.V

SPRWF - US OTC

February 17, 2011

Exploration program underway, spring drilling planned

Previous quartz veins returned up to 66.34 grams /tonne Gold (2.13 ounces gold / tonne)

Coquitlam BC, Canada, February 17, 2011 SUPREME RESOURCES LTD. (SPR.V- SPRWF-OTC) (the "Company") is pleased to announce a work update on the Phase 2 exploration program on its 100% wholly owned Ample Gold Max Property.

The Ample Goldmax Property is located 8 kms west of Lillooet, BC along Highway 99 South, better known as the Duffy Lake Road. The property comprises 294 units, or 5,828 hectares (58.2 sq km)

In late 2010, Supreme Resources completed an aerial reconnaissance survey of the property and discovered a large new quartz vein and four (4) previously undiscovered adits (horizontal passage into a mine, from which ores and minerals are extracted).

This new quartz vein is located in a previously unexplored area, and is located north of the Ample Gold Max Main Zone. It is estimated to be approximately 5 meters (15 feet) in width and is exposed on the surface of a rock face and appears to continue into the mountain for an unknown length.

Currently, Supreme Resources is conducting a Soil Geochemical Survey over the new area in the vicinity of the newly discovered quartz vein. The results will provide further insights as to the geological & economic potential of the new quartz vein.

Ample Gold Max gold grades from previously identified and sampled quartz veins returned gold values of up to 66.34 grams /tonne (2.13 ounces gold / tonne). (See News Release dated February 28, 2008 "Ample-Goldmax 2008 Exploration Program")

Prior drilling results by Homestake and Gold Ore include an 8.2m intersection with 11.76g/t gold, 4.5g/t Au over 7.2m, 9.5g/t Au over 1.5m, and 3.9g/t Au over 5.0m. (See News Release dated February 26, 2008 "Ample Gold Max Exploration)

Supreme's drill hole AG-08-38, which was a "twin" to Homestake's hole AG 96-07 intersected 6.05m of strongly quartz-veined greenstone and graphite phyllite from 30.12m to 36.17m, accompanied by arsenopyrite, pyrite, and pyrrhotite. Visible gold was observed at two locations within the AG-08-38 drill core. (See News Release dated September 25, 2008 "More Visible Gold Encountered At Ample- Goldmax")

The Ample-Goldmax Property has an established trend of mineralized zones along the Cayoosh Creek Fault for more than 3 kms.

Many of the mineralized zones like the Ample-Goldmax, Bonanza Ridge zones display visible free gold and abundant sulphide lenses, along a strike length of showings over 1 km in length.

                    Ample Gold Max Historical Drill Results



    8.2m of 11.76g/t gold
    7.2m of 4.5g/t gold
    1.5m of 9.5g/t gold
    5.0m of 3.9g/t gold
    21.0m of 2.75g/t gold
    12.0m of 2.49g/t gold

Drill hole AG 08-38, which was a "twin" to Homestake's hole AG 96-07, collared in the same location and drilled in the same direction (azimuth) and at the same dip angle as the Homestake hole. A comparison of the two holes follows:

Homestake   AG  96-07     24.80m to 33.00m    8.20m     11.76 gpt
Au

Supreme     AG  08-38     31.36m to 38.45m     7.09m    6.60 gpt
Au

The results from the 2008 drill program are as follows (See News Release dated February 9, 2009 "Drill results and assay intercepts Ample-Goldmax")

  Drill    | From  | To    | Intercept (m) | Gold/Au
  Hole     | (m)   | (m)   |               | (g/t)
-----------+------+------+--------------+--------
  AG 08-36 | 19.33 | 19.46 | 0.13          | 7.10
-----------+------+------+--------------+--------
  AG 08-37 | 7.37  | 7.50  | 0.13          | 11.39
-----------+------+------+--------------+--------
           | 58.54 | 64.63 | 6.09          | 4.17
-----------+------+------+--------------+--------
  AG 08-38 | 14.41 | 15.85 | 1.44          | 1.10
-----------+------+------+--------------+--------
           | 31.36 | 38.45 | 7.09          | 6.60
-----------+------+------+--------------+--------
  AG 08-39 | 10.37 | 18.90 | 8.53          | 5.91
-----------+------+------+--------------+--------
  AG 08-40 | 5.65  | 6.71  | 1.06          | 10.72
-----------+------+------+--------------+--------
  AG 08-41 | No significant results
-----------+----------------------------------------
  AG 08-42 | Hole Abandoned
           |

NI 43-101 Report dated July 24, 2007, outlining the history of gold mining & exploration of mineralized zones and recommending further exploration work on the Ample-Goldmax Property, has been completed by Dr. J.S. Getsinger, P.Geo. A copy of the full report can be found at www.sedar.ca.

Supreme Resources will use the results from the geochemical survey to assist the company's geologist with the preparation of a spring 2011 Phase 3 exploration program, which will include plans to drill areas in and around these four newly discovered adits and the newly discovered quartz vein on The Ample Gold Max property.

Al Levien Supreme's CEO states "These discoveries confirm our beliefs that undiscovered structures within this large property exist and may host exceptional gold grades. We are excited about the potential of the other target areas and the upcoming spring drilling on Ample Gold Max."

Please visit the company's website to view recent pictures of the Ample Gold Property and sign up for further update www.supremeresourceltd.com

Further news will be forthcoming in the near future.



ON BEHALF OF THE BOARD



"Allan Levien"



____________________________

Allan Levien

President


About Supreme Resources Ltd:

Supreme Resources Ltd. (SPR - TSX.V) is a junior exploration company with advanced base and precious metals projects located in producing mining districts of British Columbia, Canada. Supreme Resources' goal is to increase shareholder value by developing exploration projects that have the potential of becoming new discoveries.

Website: www.supremeresourcesltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward- looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward- looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. Person or person in the United States.


Exploration program underway, spring drilling planned

Previous quartz veins returned up to 66.34 grams /tonne Gold (2.13 ounces gold / tonne)

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Supreme Resources Ltd. via Thomson Reuters ONE

[HUG#1490186]

Contact Information

  • Contact:
    Allan Levien
    CEO/President
    (604) 941 3716
    Email Contact

    Alternative Contact:
    David Joseph
    (604)-569-1801