Solex Resources Corp.
TSX VENTURE : SOX

Solex Resources Corp.

October 16, 2007 11:30 ET

Solex Resources Corp. Extends Mineralized Footprint at Pilunani

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" or the "Company") is pleased to provide results from an eight-hole second phase drill program at its 100% owned Pilunani lead-zinc prospect located near Juliaca, Peru. To date, a total of 17 holes totalling 1,452.15 metres, including a nine-hole scout program completed last year, have been drilled at the project.

Previous results from a nine-hole scout drill program at Pilunani, reported in news announced on May 23, 2006, indicated the presence of near-surface high-grade lead-zinc mineralization over an area of 220 by 200 metres. The latest results have increased the strike length of the anomaly to over 900 metres with the mineralized horizon identified over a thickness of 50 metres and up to 50 metres down dip. Mineralization also remains open to the northwest and to depth.

Highlights from the second phase drill program include hole PIL-14, drilled as a 400-metre step-out, which intersected five independent mineralized zones over 44.8 metres of core length with the best interval returning 5.35% Pb and 9.84% Zn over three metres. Additionally, hole PIL-18, drilled as a 900-metre step-out, also encountered five new zones of lead-zinc mineralization, highlighted by 12.75 metres of 1% Pb and 2.54% Zn.

Jonathan Challis, President and CEO of Solex, states: "The latest drill results at the Pilunani prospect continue to provide pleasant surprises in terms of the extent and thickness of the mineralization. Additional work is certainly justified as higher lead-zinc grades are still being found in new anomalous zones and mineralization is still open to the northwest and to depth. In line with our strategy to focus on our uranium projects and to spread risk, the company's next step for the Pilunani project is to finalize discussions with potential joint ventures partners that can bring additional resources and expertise to advance the project."



Results from Second Phase Drill Program at Pilunani Prospect

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Hole # From To Length Ag g/t Pb % Zn %
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PIL-11 No Significant Intersection
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PIL-12 No Significant Intersection
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PIL-13 89.80 114.50 24.70 0.35 0.23 0.55
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PIL-14 49.00 50.00 1.00 1.10 1.25 1.32
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PIL-14 53.00 54.00 2.00 3.15 0.83 1.20
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PIL-14 75.50 77.00 1.50 6.90 0.81 2.27
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PIL-14 84.00 87.00 3.00 8.05 1.08 2.09
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PIL-14 90.80 93.80 3.00 34.45 5.35 9.84
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PIL-15 No Significant Intersection
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PIL-16 20.70 23.80 3.10 0.36 0.89 10.96
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PIL-17 37.00 48.50 11.50 0.16 0.25 0.71
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PIL-18 4.00 16.75 12.75 0.22 1.00 2.54
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PIL-18 19.00 24.40 5.40 0.37 0.21 1.07
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PIL-18 28.30 32.80 4.50 0.83 0.14 1.09
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PIL-18 45.00 49.50 4.50 0.50 0.19 1.10
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PIL-18 57.85 60.85 3.00 0.65 0.06 0.63
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(i) Actual true width of the deposit remains to be determined, as further
drilling will be required to properly determine the true orientation
of the structure.


Drill core samples consist of half HQ or NQ diamond cores that are split by a diamond saw on site. The samples are then sent to ALS-Chemex receiving facility in Arequipa, Peru, and then forwarded onto the laboratory in Lima, Peru, for processing. Assaying consists of ICP-AES multi-element analysis with over-limit checks competed for Ag (over 100 g/t), Pb (over 1%) and Zn (over 1%) by Atomic Absorption (AA) spectrometry. Over-limits for silver values greater than 1,500 g/t were completed using a gravimetric fire assay. The quality control protocols that are in place consists of insertion of one blank at least every 20 samples and a field or lab duplicate every 20 samples. In addition, standard reference material are inserted once every 20 samples. The remaining half cores are retained on site for future verification and reference purposes. The drilling and exploration programs at Princesa are under the supervision of Buscore Consulting's project manager, Luis Igreda, G.I.T.

Dale Schultz, P.Geo., Managing Director/chief consultant of Buscore International Consulting, has been retained by Solex to provide QP services in compliance with National Instrument 43-101. Mr. Schultz has reviewed the contents of this release for accuracy.

Geophysical surveys were completed by JVX Ltd. and were supervised by C.J. Hale, Ph.D., FGAC, P.Geo. Dr. Hale has reviewed for accuracy the portions of this release that pertain to the geophysical surveys.

Options Granted

Solex also wishes to announce that it has issued 1.65 million options to directors and officers, 355,000 options to employees of the Company and an additional 80,000 options to consultants. All options have a five-year term and are exercisable at $0.50.

Solex is a mineral exploration company engaged in the acquisition and exploration of uranium and base metal properties in the Republic of Peru. The Company is currently active on four projects: the Macusani East uranium project (50/50 joint venture with Frontier Pacific Mining Corporation); the Macusani West uranium project (100%); the Pilunani lead-zinc project (100%); and the Princesa lead-zinc-silver project (100%).

On Behalf of the Board of Directors of SOLEX RESOURCES CORP.

Jonathan Challis, President & Director

This news release may contain forward-looking statements that are based on Solex's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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