Update on Cold Springs Project In Nevada

VANCOUVER – Supernova Metals Corp. has received final assays from its recently completed initial diamond drill program at the Cold Springs project in Nevada.  A total of four diamond drill holes totaling 1,378 meters were drilled to test a conceptual target in the Cold Springs Valley west of a range front fault. The fault separates a silicified hilltop area with known gold and silver mineral occurrences to the east, from a covered valley bottom to the west. It was hypothesized that the feeder system to the mineralization found on the hilltop may have been down dropped by the range front fault and was represented by IP geophysical anomalies that were identified in the valley to the west of the fault.

The drill holes intersected a broad fault zone, which were much thicker than anticipated, consisting of fragments of silicified volcanic rocks, hydrothermal breccia and lesser quartz vein material mixed with abundant sandy to clayey fault gouge. The silicified volcanic rock and quartz vein clasts scattered within the ubiquitous fault gouge resembled the documented silicified hydrothermal breccia and quartz veins that comprise the mineralized areas on the hilltop east of the range front fault, but unfortunately it appears that due to the high level of dilution represented by fault gouge no significant assay were returned from the program.

The Company is currently re-evaluating all available geologic information gathered to date on the property to determine the appropriate next steps for further exploration. The hilltop area to the east of the range front fault remains a significant exploration target represented by an approximately 800m by 350m exposure of altered and silicified rhyodacite breccia which hosts a series of northwest-striking, sub-parallel gold and silver-bearing quartz veins. Previous sampling by Silver Range Resources Ltd. and others has yielded values of up to 64.9 g/t gold and 1,770 g/t silver from vein material. The limited reverse circulation drilling completed in this area to date has not adequately tested the mineralizing system and additional drilling is warranted to fully evaluate the potential of the property.