Supreme Resources Ltd.
OTC Bulletin Board : SPRWF

Supreme Resources Ltd.

October 06, 2010 19:01 ET

Supreme Resources Ltd: Property Acquisition and Drilling Update

COQUITLAM, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Supreme Resources (TSX VENTURE:SPR) (OTCBB:SPRWF) is pleased to announce the acquisition of a gold-silver property known as "Law's Camp" on Lawless Creek northwest of Princeton B.C. and north of the historical placer gold and platinum bearing Tulameen River The property includes 13 claims covering approximately 355 hectares. Some of the claims are reverted Crown Granted claims covering three of the original showings at Law's Camp. The claims are accessed by public roads from Tulameen or from the Coquihalla Highway.

The claims cover the Liverpool, Shelley and Chicago prospects. The claim area is underlain by Upper Triassic schists and limestones which s strike northwest and dip 30 to 70 degrees southwest towards the contact with nearby Eagle Plutonic Complex. The upper part of this sequence is intruded by feldspar porphyritic dikes and sills. Stratabound massive sulphides are developed in this area, where noncalcareous pelitic schists grade into overlying calcareous schists and marbles. Mineralization consists of a layer of semi-massive to massive sulphides, consisting of pyrite, chalcopyrite and pyrrhotite, with minor galena and sphalerite (Minfile) . They are extensively oxidized to limonite, hematite, malachite and azurite.

A historical 4-metre chip sample taken across an exposure of limonite, hematite and malachite at the portal of an adit contained 0.205 per cent copper, 0.026 per cent lead, 0.115 per cent zinc, 29.0 grams per tonne silver and 0.18 gram per tonne gold (Assessment Report 15419)

A historical chip sample taken across 1.8 metres of massive pyrite, with blebs and disseminations of chalcopyrite, exposed in underground workings, assayed 0.69 gram per tonne gold, 17 grams per tonne silver and 1.26 per cent copper (Minister of Mines Annual Report 1929, page 279).

Similar mineralization is exposed in trenches on the Chicago showing (previously Lot 260), 200 metres to the south of the Liverpool, where pyrite, chalcopyrite and sphalerite occur in limestone dipping 25 to 30 degrees west.

The claims were acquired from vendor Stephen Lawes for $10,000 cash and 100,000 shares. Recent selected samples, among others of lower value, contained up to 4.76 g/t gold and 33.1 g/t silver. Considerable exploration data exists in Assessment reports which needs to be compiled prior to designing an exploration program.

Copper Mountain area exploration

In the vicinity of Copper Mountain, Supreme have now completed 6 drill holes, under the supervision of Grant Crooker, P.Geo. Samples from the first two holes are in for assay and the other cores are being logged. Two geochemical soil lines of 1200 meters each have been completed at the TAS South extension and five lines of 1000 meters each have been sampled at the TAS property. Results will be announced when assays are received. Drilling on the TAS property is expected to commence shortly. The TAS property is located adjacent to, and southeast of the Oriole deposit owned by the Copper Mountain Mining Corporation. The Copper Mountain Mine is scheduled to commence production in June 2011.

Further news will be forthcoming in the near future.


Allan Levien, President

About Supreme Resources Ltd:

Supreme Resources Ltd. (TSX VENTURE:SPR) 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.


This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission, Alberta Securities Commission and the US Securities and Exchange Commission.

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.

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