Soltoro Ltd.

Soltoro Ltd.

August 06, 2014 09:00 ET

Gold Reserve Discontinues Option on Soltoro's La Tortuga Project

TORONTO, ONTARIO--(Marketwired - Aug. 6, 2014) - Soltoro Ltd. (TSX VENTURE:SOL) has been advised by Gold Reserve Inc. (TSX VENTURE:GRZ)(OTCQB:GDRZF) that it will not continue with its option to earn-in to Soltoro's La Tortuga project. Gold Reserve cited poor market conditions and a need to preserve capital as the main reasons for terminating the option. Gold Reserve was awaiting a drill permit in order to carry out a preliminary drill program.

Andrew Thomson, President and C.E.O. of Soltoro Ltd. stated: "We are sorry to see Gold Reserve drop the option on La Tortuga without having carried out a drill program. La Tortuga has excellent potential to host a significant copper/gold deposit with numerous mineralized target areas yet to be drill tested. The Company will seek a new partner to advance the project."


Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 30,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. with a 3% N.S.R. payable on Argentum Silver's Victoria and Coyote properties. Soltoro has 69,533,037 common share issued and outstanding and trades on the TSX Venture Exchange under the symbol "SOL".

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. This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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