Soltoro Ltd.

Soltoro Ltd.

November 27, 2007 17:23 ET

Soltoro Completes Advance Royalty Payments on Portion of El Rayo Property

TORONTO, ONTARIO--(Marketwire - Nov. 27, 2007) - On November 23, 2007, Soltoro Ltd. (TSX VENTURE:SOL) entered into an agreement to issue 100,000 common shares of Soltoro Ltd. to Fury Exploration Ltd. ('Fury') in lieu of two cash advance royalty payments totaling US $75,000 due in the next year. Under this agreement Soltoro has no further obligations or commitments to Fury beyond a 2% Net Smelter Return royalty on the 'Guachinango 1' property. Soltoro has the right to purchase 1.5% of the Net Smelter Return royalty for US $1,500,000. The share issuance is subject to TSX Venture Exchange approval.

The 6,200 hectare 'Guachinango 1' property was acquired on November 24, 2006 and is contiguous to Soltoro's 3,848 hectare El Rayo property. Soltoro has completed sampling, mapping and two exploration drill holes on the Guachinango 1 claim to date. While no significant mineralization was encountered in drill intercepts, mapping and sampling along the north eastern extension of the Las Bolas structure and numerous untested geophysical targets, warrant continuing with exploration of the Guachinango 1 property.

Soltoro is completing a topographic survey along the El Rayo and Las Bolas structures primarily within the historic resource area located at El Rayo prior to commencing resource drilling. The extension of the Las Bolas structure beyond this area onto the Guachinango 1 property will be tested as exploration continues at El Rayo. The Company plans to contract a percussion drill to begin to delineate the resource. Drilling is expected to begin within the next 3 months.

Soltoro is a junior exploration company active in Mexico. The Company has 20,115,000 shares outstanding, prior to approval of the above noted transaction. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico. Soltoro's shares trade on the TSX Venture Exchange under the symbol SOL.

On behalf of the board,

Andrew Thomson, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

Contact Information

  • Soltoro Ltd.
    Andrew Thomson
    (416) 987-0722