Soldi Ventures Inc.

Soldi Ventures Inc.

March 07, 2011 09:02 ET

Soldi Ventures Inc. Acquires the Golden Bullet Property in Newfoundland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that it has entered into an Option Agreement to acquire the Golden Bullet property, located in Newfoundland, which is subject to TSX Exchange approval. The property contains a number of significant gold showings, with values ranging up to 338.6g/t gold (Rubicon Minerals grab sample, 2005) and a historical grab sample recorded by Noranda of 2,130 g/t gold. The property consists of 46 claim blocks (1150 hectares) and has excellent road access near the town of Gander. After compiling all of the previous work carried out on the property, Soldi intends to re-evaluate the property using modern exploration techniques including drilling to follow up on previous high grade gold results in drill holes.

The most notable gold intercepts from previous diamond drilling on the property include: 57.46 g/t over 4.30 m, 38.53 g/t over 6.45 m,  106.2 g/t over 2.3m, 102.2 g/t over 0.76m, 32.2 g/t over 1.6m, 24.38 g/t over 1.83m and 8.98 g/t over 14.33m. These historical intercepts were drilled by Noranda beginning in 1987 and later continued by a Gander River Minerals and Hemlo-Bristol Joint Venture in the early 1990's. The Golden Bullet property lies wholly within Davidsville Group turbiditic sediments including intervals of slate, siltstone and sandstone-greywacke that are interpreted to conformably overlie and be imbricated with the Gander River Complex. A belt of greywacke dominant sediments bound between two topographic linears appears to play a significant role in the known distribution of gold showings.

Historical work on the property has lead to the discovery of four known zones that have been named the Grouse, Knob, Letha, and Bullet. More recently, in 2004, a 15 hole, 1724.5 metre HQ diamond drill program carried out by Rubicon Minerals Corp. tested three gold targets on the Golden Bullet Project; namely the "Knob" (7 holes 897.7 metres), "Letha" (2 holes, 128.0 metres), and "Grouse" (6 holes, 698.8 metres).

The 2004 Drill program achieved its stated objectives of better defining the geometry and gold distribution of the "Knob" quartz vein system where previous drilling and surface sampling encountered several high grade intersections with abundant visible gold. However, the drilling only returned highly anomalous gold values from the complex vein system. The veining is mainly hosted by a moderately to strongly altered, relatively coarse greywacke/pebble conglomerate and rarely by finer grained siltstone/shale. Alteration consists of a proximal sericite-iron carbonate assemblage bordered by calcite ± chlorite. Arsenopyrite and pyrite are locally abundant along vein margins but rarely exceed 1% in the veins themselves. Visible gold was encountered in two locations.

Rubicon followed up this drill program with a ground program, where a total of 62 rock samples of mineralized quartz-rich float and outcrop were collected. Of these, 14 samples assayed above 1 g/t gold, six of those samples assayed over 5 g/t gold, and three samples assayed over 100 g/t gold. As with previous prospecting results, these samples tend to align over a 5 km strike length.

For Soldi to earn a 100% interest in this land package, subject to a 2.5% Net Smelter Royalty held by the vendor, the Company must pay $210,000 cash, issue 625,000 shares and maintain the property in good standing over a 3 year period.

"We believe that the acquisition of this high-grade gold property will help Soldi Ventures diversify its property portfolio while adding value to the company," stated Charles Desjardins, President of Soldi Ventures Inc. "We also continue to focus on drilling the properties in the prolific Rainy River gold belt. Our initial Phase One 2,500m drill program is progressing well and samples have been submitted for assay."

Technical information in this news release has been prepared and/or revised by Mike Magrum, P.Eng., Director and Qualified Person as defined in NI 43-101 for Soldi.

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Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior gold exploration company focused on discovering world class gold deposits in politically safe jurisdictions. In light of the Rainy River gold discovery and others in the area, the Rainy River gold belt will be a high priority for the Company's exploration efforts.

On behalf of the board of SOLDI VENTURES INC.

Charles Desjardins, President

"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."

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