Soldi Ventures Inc.
TSX VENTURE : SOV

Soldi Ventures Inc.

July 07, 2011 09:00 ET

Soldi Ventures Inc. Has Commenced a Ground Program at the Golden Bullet Project in Newfoundland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2011) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) has commenced a ground program on the Golden Bullet Project located near the town of Gander in Newfoundland. Work has begun following up on a number of visible gold occurrences. In addition to this a number of historical government tills that have anomalously high gold values will also be investigated. In the coming weeks soil sampling grids will be completed over most of the known high grade showings with the aim of extending the original showings and identifying others that are thought to occur throughout the property.

Exploration has already identified an additional mineralized quartz veined system within the property. Recent quarry operations have exposed a 5-6 meter wide quartz veined system approximately 200 meters to the southeast from the high grade Knob prospect (drill holes of 106.20 g/t /2.30 m within 38.53 g/t/6.45 m).

Golden Bullet Project

The 6,975 hectare Golden Bullet Project contains a number of significant gold showings, with values ranging up to 338.6 g/t gold (Rubicon Minerals grab sample, 2005) and a historical grab sample recorded by Noranda of 2,130 g/t gold. After compiling all of the previous work carried out on the Project, Soldi intends to re-evaluate the project 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 Project 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 Project lies 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 Project 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 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.

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

You can now find Soldi Ventures Inc. on Twitter at http://twitter.com/soldiventures.

Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior gold exploration company focused on discovering gold deposits in politically safe jurisdictions.

On behalf of the board of SOLDI VENTURES INC.

Charles Desjardins, President, CEO, CFO, Secretary and Director

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

"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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