Solex Resources Corp.

Solex Resources Corp.

January 23, 2008 09:30 ET

Solex Resources Corp. Confirms Extension to Macusani Uranium District

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" or the "Company") is pleased to provide a preliminary update on its regional exploration program on the wholly owned Macusani West (34,100 hectares) and Macusani South Central (4,000 hectares) projects in the Macusani Uranium District of Southern Peru.

Exploration work on these previously unexplored properties has identified widespread uranium mineralization throughout both the Macusani West and Macusani South Central projects. To date, 11 anomalous target areas totaling 2,960 hectares have been identified, each ranging in size from 883 to 32 hectares. See website for anomaly map (

Regional exploration commenced in September 2007 with four geological teams undertaking 1:25,000 scale geological mapping, geochemical sampling (461 rock samples) and prospecting using radiometric readings from hand scintillometres, as well as interpretation of satellite imagery (Photo, Aster, Landsat). Another 15,300 hectares remain to be prospected in the Macusani West claim area and this work will be completed as quickly as conditions allow.

Jonathan Challis, President of Solex, stated: "The early geological model postulated by Dr. Alan Clark, and executed by Solex's geological team, has been validated. These discoveries extend the potential of the entire Macusani uranium district. Detailed exploration programs are now being prepared to follow up on the 11 target anomalies."

In Macusani West, the complexity of the geology has resulted in the emplacement of multiple intrusive phases. The most striking known example of these occurrences in this area is the silver-rich, low-sulfidation (LS) epithermal deposit of Corani operated by Bear Creek Mining Corporation. The geology shows tuffs (Yapamayo series from Tertiary Quenamari formation) which are in some cases welded and leached at different levels. In general, this is the same rock type that is found at Macusani East (the company's separately joint ventured uranium project) but intensely fractured and deformed by the effect of the multiple intrusive phases. Furthermore, the Macusani West claim block is bordered in the northwest by outcropping uraniferous Cretaceous sediments, mainly composed of sandstones and quartzite's pertaining to the Veluyo formation.

The Company uses the laboratories of SGS and CIMM Peru S.A., both internationally accredited laboratories and located in Lima, Peru, to analyse its samples, the latter having a sample preparation facility in Juliaca, close to the project site.

The field work was conducted by SAMSAC under the supervision of Mr. Juan la Cruz: B.Sc. Geology (General Manager of SAMSAC) and Mr. Alfredo Gamarra (Solex Chief Field Geologist): B.Sc. Geology. Jonathan Challis FIMMM, is a Qualified Person under Canadian Securities Administrators National Instrument 43-101 policies, and is responsible for the contents of this news release.

Technical expertise referred to in this news release:

- Dr. Alan Clark (Solex Advisory Board Member): A.R.S.M., Ph.D., C.Eng., a Professor Emeritus of Queen's University, Ontario, who has been engaged in the Queen's University Central Andean Metallogenetic Project for the past 30 years. This project was responsible for establishing much of the existing metallogenetic framework of the Andean regions in southern Peru where the Company's projects are located.

- Mr. Juan La Cruz (General Manager, SAMSAC): B.Sc. Geology, San Marcos University of Lima, and post graduate studies in mineralogy, geochemistry of mineral deposits, project evaluation and Financial Administration. Mr. La Cruz has more than 30 years experience working internationally with senior and junior companies such as Noranda, Battle Mountain Gold, Normandy, Newmont, Placer Dome and Goldmarca Ltd.

- Mr. Alfredo Gamarra (Solex Chief Field Geologist): P.Geo., B.Sc. Geology, San Agustin Nacional University, Arequipa. With 23 years experience in exploration geology, Mr. Gamarra has been involved in the discovery and development of a number of projects for the Hochschild group and the Pallancata project (now belonging to International Mining Corporation). Much of his experience and expertise relates to work at high altitudes.

About Solex Resources Corp.

Solex Resources Corp. is the dominant landholder in southern Peru's Macusani Uranium District with concessions covering over 904 km2. In 2008, a $5.5-million exploration program is planned on the Company's Macusani East joint ventured uranium project along with an initial National Instrument 43-101 report due out in the first quarter. The Company is also aggressively exploring its three 100% owned Macusani uranium projects. Additionally, the company is actively seeking joint ventures on its Princesa and Pilunani base metals projects.

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

Jonathan Challis, President & Director

This news release may contain forward-looking statements that are based on Solex's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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