May 19, 2022, Vancouver, British Columbia – Supernova Metals Corp. (“Supernova” or the “Company”) (TSXV:SUPR) (OTC:ABETF) (Frankfurt:A1S.F) is pleased to announce that the Company has commenced an initial exploration program at its Lac Saint Simon lithium property (“LSS Property”) in Quebec, located approximately five kilometres north of the Whabouchi Lithium deposit, currently being advanced by Nemaska Lithium. Previous work conducted in the area of the LSS Property has identified several granitic phases on the property. The 2022 program will be comprised primarily of geological mapping, prospecting and rock and soil sampling designed to determine if any prospective spodumene-bearing pegmatite dykes are present on the property which are the host for lithium mineralization at nearby Whabouchi.
Sean McGrath, CEO of Supernova, commented: “We are excited to start exploring the LSS Property. There is tremendous interest in lithium and the potential for domestic supply in a mining friendly jurisdiction like Quebec is very appealing. We will update shareholders as results are received.”
About Lac Saint Simon
The LSS property is located in the James Bay/Eeyou Istchee region of Quebec. The LSS property consists of 9 mineral claims totaling approximately 480 hectares and has a historic NI 43-101 technical report completed in May 2017. The property is only 2km from the boundary of Nemaska Lithium’s Whabouchi Project (“Whabouchi”). According to Nemaska, Whabouchi is one of the most important spodumene lithium hard rock deposits in the world both in volume and grade and hosts a Proven and Probable open pit mineral reserve of 27.9 million Tonnes grading 1.33% Li2O as disclosed in a 2019 NI 43-101 Technical Report that was filed on SEDAR on August 19, 2019. In 2017 a 56.6 line km airborne magnetic drone based survey identified two main dipole anomalies on the LSS property, which when matched with the general geology of the area and considering the size of the anomalies, likely represent geological features such as fault zones and a dyke system. The information from the survey will assist in a program of geological mapping and prospecting to potentially identify prospective lithium-bearing pegmatite dykes on the property. The most prospective geology appears to be potential pegmatite dykes within pink granite in the southern part of the property. This area will be targeted for follow up. Generally, lithium mineralization in the region has been concentrated in pegmatites, with nearby Whabouchi being the classic example.
The technical information in this news release has been reviewed and approved by Roger March, PGeo and a Director of Supernova. Mr. March is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
SUPERNOVA is a resource exploration company focused on acquiring and advancing natural resources opportunities within North America.
ON BEHALF OF THE BOARD
CEO and Director
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statements regarding Forward-Looking Information:
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. This forward-looking information is provided as of the date of this news release. The forward-looking information reflects our current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance, or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward-looking information. No assurance can be given that these assumptions will prove correct. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Investors are advised to consider the risk factors under the heading "Risks and Uncertainties" in the Company's MD&A for the year ended December 31, 2020 available at www.sedar.com for a discussion of the factors that could cause the Company's actual results, performance and achievements to be materially different from any anticipated future results, performance, or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required be required by law.