May 11, 2011 (TheNewswire.ca) --
SUPREME RESOURCES LTD. (SPR.V- SPRWF-OTC)(the "Company") is pleased to announce the acquisition by staking of two mineral claims adjacent to the TAS property at Copper Mountain in southern British Columbia. The two tenures cover 611.25 hectares and are located approximately 5 kilometres south of Copper Mountain Mining Corporation's (TSX:CUM) Copper Mountain mine.
The Ox Minfile showing occurs within the area of new staking and is underlain by Upper Triassic Nicola group volcanic rocks that have been intruded by small dykes and bodies of diorite related to the Copper Mountain intrusions. Chalcopyrite, pyrite and magnetite are reported to occur as disseminations in brecciated volcanic, sediments and diorite.
Previous work on the Ox showing includes an aeromagnetic survey conducted by Kechika Mines Ltd in 1969. The survey indicated several magnetic highs and steep magnetic gradients that may be indicative of diorite of the Copper Mountain Intrusions. Geological mapping is also reported to have been conducted in the area but there is no documentation of the work.
Supreme intends to investigate the Ox showing as soon as weather conditions permit. The work will initially consist of geological mapping and prospecting, with additional work after the preliminary assessment has been completed.
Supreme Resources Ltd. holds the largest land position of all companies located in the Copper Mountain area with over 30,000 acres of holdings adjacent to the Copper Mountain mine, including the TAS property.
The Company's TAS projects are located with close proximity to the Copper Mountain mine and the Oriole and Rifle areas south of the open pits of Copper Mountain.
The current 2010 measured and indicated resources at the Copper Mountain mine are 518.6 million tons of 0.31 per cent Cu containing 3.2 billion pounds of copper with gold-silver credits.
The Copper Mountain mine is 75 per cent owned by Copper Mountain Mining Corporation and 25 per cent owned by Mitsubishi Materials Corporation. The construction of the Copper Mountain mine is on schedule for full production in 2011, producing 100 million pound of copper concentrate annually.
Further news will be forthcoming in the near future.
ON BEHALF OF THE BOARD
"Allan Levien"
____________________________
Allan Levien
President
Contact: Allan Levien CEO/President
(604) 941 3716
aelevien@supremeresourcesltd.com
Alternative Contact: David Joseph
(604)-569-1801
About Supreme Resources Ltd (TSXV:SPR) (OOTC:SPRWF) :
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.
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