Solex Resources Corp.

Solex Resources Corp.

November 19, 2007 21:28 ET

Solex Discloses Letter Sent to Mr. Vulimiri

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" or the "Company") and its advisors have been carefully reviewing the communications made by the dissidents and has responded to Mr. Vulimiri with respect to the dissident proxy circular with the letter reproduced below.

Solex encourages its shareholders to contact the Company to obtain information that will assist them in making an informed decision on voting and to submit proxies in favour of the board nominees set out in Solex's proxy circular.

Toronto, November 19, 2007

Mohan R. Vulimiri
822 East 12th Street
North Vancouver, British Columbia
V7L 2L1

Dear Sir:

RE: Solex Resources Corp.

We act for Solex Resources Corp. ("Solex") and write further to the Confidential Proxy Circular distributed by you and dated November 8, 2007 (although only published on November 16, 2007) (the "dissident proxy circular").

We have had an opportunity to review the dissident proxy circular with our client and are of the view that it contains several material misrepresentations and omissions. Particulars of the misrepresentations include as follows:

1. The dissident proxy circular and accompanying cover letter suggest that there has been "significant unwarranted increases in executive compensation and severance packages over the past year, which (Mr. Vulimiri) did not approve in (his) capacity as a member of Solex's board of directors and which Solex's Compensation Committee did not properly approve".

This is untrue:

- Solex retained a professional consultant to provide advice on management compensation.

- There were no compensation changes in Solex's fiscal year ended June 30, 2007.

- On September 13, 2007, the Compensation Committee considered the report of the consultant and recommended modest changes to the compensation structure: a $25,000 increase to the salary of the President of Solex as well as a short term incentive program that may or may not result in compensation increases.

- The board of directors considered and ratified the Compensation Committee's recommendation.

- While Mr. Vulimiri was absent from the board meeting, by operation of section 123(3) of the Canada Business Corporations Act, he is deemed to have consented if he fails to dissent.

2. The dissident proxy circular and accompanying letter suggests that Jason Birmingham was improperly removed from the Compensation Committee of Solex and that the Compensation Committee lost an independent director. In fact:

- Mr. Birmingham was replaced with the agreement of the board of directors by Mr. Gary German, an independent director appointed in March 2007.

- Each of the members of the Compensation Committee is independent of management.

3. The dissident proxy circular and accompanying material suggest that management's proxy materials were not approved by the Solex board of directors. Again, this is untrue:

- The Solex board of directors approved the meeting materials at the board of director's meeting on October 22, 2007.

The misrepresentations together and individually suggest that management is acting without authority and preferring its own interests to those of Solex. The dissident proxy circular and its accompanying material paint an inaccurate picture of the affairs of Solex and the conduct of management.

In addition, the dissident proxy circular fails to properly disclose the material interest of Mr. Vulimiri in Solex's continuing ongoing transactions with Frontier Pacific Mining Corporation ("Frontier") and specifically the pending transfer by Solex of an interest in its Peruvian operations to Frontier. Additionally, the dissident proxy circular omits to explain that Frontier and Solex have a number of unresolved issues between them and that Mr. Vulimiri, as an officer, director, shareholder and Chairman of Frontier, has a material interest in the outcome of these issues which may be substantially divergent from that of Solex. The dissident proxy circular also fails to properly disclose any connections between Mr. Vulimiri, Frontier and the slate of candidates that he has proposed.

As a result of these failures and omissions, the dissident proxy circular does not contain "full, true and plain" disclosure nor does it comply with the Canada Business Corporations Act.

It also appears that the dissident proxy circular was not served as required.

We seek confirmation today that you will either withdraw the dissident proxy circular and withdraw the dissident nominees or remedy these misrepresentations in a revised dissident proxy circular.

Yours very truly,

"Walied Soliman"

Walied Soliman



cc. Allen Nelson & Co.

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