Solex Resources Corp.
TSX VENTURE : SOX

Solex Resources Corp.

May 23, 2006 09:00 ET

Solex Resources Corp. Announces Pilunani Drill Results Indicate Near Surface, High Grade Lead-Zinc Mineralisation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 23, 2006) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" the "Company") is pleased to confirm an initial 9 diamond drill holes on its 100% owned Pilunani lead-zinc property in south-eastern Peru have been completed to vertical depths of up to 28 meters. This drill program was designed to test the depth and extent of anomalies identified by trenching. Assay results confirm that over an initial area of 220 meters by 200 meters in one area of the property, lead-zinc mineralisation appears as a relatively flat lying, continuous horizon from surface to a depth of up to 26 meters. Further, drill holes are planned to test extensions to this zone as it is open in three directions.

Six drill holes were completed from five drill stations over a horizontal distance of 165 meters, intersected the mineralised blanket with an average true width of 11 meters. The drilled mineralised zone appears to be only the southern exposed tip of the limestone and sandstone beds, where the mineralised "manto type" zone should reach its true thickness to the north, northwest and also to the northeast. To outline further potential to the east, drill holes 9 and 10 were placed 20 meters east of drill hole 5, which broadens the mineralised zone to 220 meters.



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From To Thickness Pb Zn
(m) (m) (m) (%) (%)
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Hole No. 1 True width 0.0 11.0 11.0 5.6 6.4
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Drill width 0.0 20.2 20.2 5.6 6.4
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Including: 0.5 3.9 3.4 5.2 8.6
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7.2 10.3 3.1 11.4 6.7
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Hole No. 2 Abandoned because of drill problems
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Hole No. 3 True width 0.0 4.3 4.3 1.3 5.2
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Drill width 0.0 7.35 7.35 1.3 5.2
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Including: 0.0 1.8 1.8 1.4 11.4
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Hole No. 4 True width 0.0 3.0 3.0 2.1 4.6
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Drill width 0.0 7.1 7.1 2.1 4.6
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Including: 1.1 3.0 1.9 5.9 8.8
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Hole No. 5 True width 2.7 6.2 3.5 0.0 1.7
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Drill width 8.0 18.0 10.0 0.0 1.7
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Hole No. 6 True width 0.0 12.4 12.4 1.8 5.8
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Drill width 0.0 12.4 12.4 1.8 5.8
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Including: 8.4 12.4 4.0 2.6 10.0
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Hole No. 7 True width 0.0 8.0 8.0 1.0 5.1
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Drill width 0.0 25.2 25.2 1.0 5.1
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Including: 0.0 4.4 4.4 1.5 6.8
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Hole No. 8 True width 0.0 27.1 27.1 0.5 0.05
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Drill width 0.0 27.1 27.1 0.5 0.05
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Hole No. 9 True width 11.4 25.2 13.8 0.9 3.9
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Drill width 20.2 44.5 24.3 0.9 3.9
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Hole No. 10 True width 3.7 20.3 16.6 1.7 1.7
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Drill width 8.1 43.9 35.8 1.7 1.7
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Including: 16.7 19.5 2.8 8.6 5.2
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Commenting on these results, Jonathan Challis, President and Director of Solex Resources Corp. states:

"These results from this first phase "scout" drill programme at the site of the historic open pit, artesinal Porvenir zinc-lead mine exceeded expectations both in terms of the thickness and grade of mineralisation encountered. Drilling has confirmed that the mineralised limestone formation is even flatter than expected. This would appear to suggest a much more extensive mineralised open pit potential to the north, east and west."

Comparing the Pilunani mineralisation with the nearby Cecilia Mine, it is noted that it was expected that the feeder veins of this "manto type" mineralisation could occur at the border of the hydrothermal breccia a few hundred meters away from the drilled area. The feeder veins at Cecilia Mine are up to 12 meters in width composed mainly of massive sphalerite.

Solex is now preparing applications for Type "B" drill permits so as to continue fence drilling to the north and northwest. This will help to determine the true length and width of the Pilunani "manto type" zinc-lead anomaly.

Assays and Quality Control

Field activities at Pilunani during the first phase were supervised by Dr. Michael Mlynarczyk, P.Geo (Ont), a "Qualified Person" as defined by NI 43-101. Jonathan Challis (FIMMM), a "Qualified Person" as defined by NI 43-101 has prepared and reviewed the information in this news release.

Assays were conducted by ALS Chemex at their facility in Arequipa, Peru. This laboratory is accredited to international quality standards through the International Organisation for Standardisation - International Electrochemical Commission (ISO/IEC) 17025 with CAN-P-1579 (Mineral Analysis) for specific registered tests.

Corporate Matters

The Company has also granted 230,000 incentive stock options to consultants and employees with an exercise price of $0.50 exercisable for a two year period.

ABOUT SOLEX RESOURCES CORP.

Solex is an exploration development stage company engaged in the acquisition and exploration of mineral properties, focused on south-eastern Peru. Our objective is to add value to properties by delineating a resource and then bring in a partner to develop it. As well as the wholly owned Pilunani project, the Company is also actively exploring the wholly owned Princessa (silver-lead-zinc) and Cullquimayo (copper-silver-uranium) properties. The Macusani property (uranium), where drilling is currently underway on 5 targets, is the subject of a joint venture with Frontier Pacific Mining Corporation (TSX VENTURE:FRP) where its earning a 50% interest in the property by spending US$4million over five years. The Company is well funded with working capital in excess of CDN$2 million.

On Behalf of the Board of Directors of SOLEX RESOURCES CORP.

Jonathan Challis, President & Director

This news release has been prepared by management of the company who takes full responsibility for its contents. This news release may include forward-looking statements within the meaning of section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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