Solex Resources Corp.

Solex Resources Corp.

August 14, 2006 13:28 ET

Solex Resources Corp. Appoints Director of Investor Relations

Grandich Contract Renewed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 14, 2006) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" or the "Company"), is pleased to announce the appointment of Mrs. Donna K. Yoshimatsu to the position of Director of Investor and Public Relations.

Mrs. Yoshimatsu brings almost 20 years of Investor and Public Relations experience, having held prominent positions with public companies primarily in the industrial and resource sectors, including Vice-President of SNC-Lavalin Group and, more recently, as a senior consultant to a spectrum of junior and mid-tier resource companies. An early career in securities and finance preceded her employment with Franco and Euro-Nevada Mining Corporations (now Newmont Mining) from 1987 to 1999, where she was credited with initiating and managing a successful investor relations program. She has pursued numerous programs in mining and finance including the Chartered Financial Analyst program and is a long standing member of the Canadian Investor Relations Institute.

Mrs. Yoshimatsu will provide investor relations services to the Company pursuant to a consulting agreement, which has a one year term, renewable upon agreement. The Company will pay cash compensation of $4,166.66 per month and has granted 100,000 stock options to Mrs. Yoshimatsu, exercisable at $0.46 per share for a period of two years.

The Company is also pleased to announce the renewal of its contract with Grandich Publications (Peter Grandich) to continue to provide certain investor relations and public awareness services to the Company. Solex will continue to pay Grandich Publications a monthly retainer fee of US$1,500 and have agreed to grant Grandich Publications 100,000 share purchase options under the Company's stock option plan at an exercise price of $0.46. Both contracts are subject to regulatory approval.

Corporate matters: In addition to the above, the Company has granted 170,000 stock options to employees and consultants exercisable at a price of $0.46 per share, for a period of two years.


Solex is a development stage, mineral exploration company engaged in the acquisition and exploration of uranium and base metals properties in Peru. Solex is the largest concession holder in the Macusani Uranium District in SE Peru. The Macusani project is a joint venture with Frontier Pacific Mining Corporation which has the right to earn a 50% interest in the project after spending $4 million over a 5 year period. Solex is also exploring its 100% owned Pilunani (lead-zinc), Princessa (silver-lead-zinc) and Cullquimayo (copper-silver-uranium) properties. The Company is well funded with working capital of approximately 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 nd 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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