Solex Resources Corp.
TSX VENTURE : SOX

Solex Resources Corp.

August 23, 2007 09:00 ET

Solex Resources Corp. Intersects 1,482.5 g/t Silver Over Three Metres at Princesa; Strike Length Increases to 1.7 km and Mineralization Still Open to Northwest and East

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2007) - Solex Resources Corp. (TSX VENTURE:SOX) ("Solex" or the "Company") is pleased to provide the remaining results obtained from the second-phase drill program at the Princesa lead-zinc-silver prospect located near Juliaca, Peru. A total of 64 holes, including 11 scout drill holes, have now been completed for a total of 5,859.8 metres. Results from 46 holes released on May 30, 2007, indicated the presence of at least three additional zones of mineralization which extended the strike length of the original anomaly from 400 metres to over 1.5 kilometres. The latest results have increased the strike length to over 1.7 kilometres. A highlight was hole PRIN-53, located in a newly identified anomalous zone, which returned 273.2 g/t Ag, 1.18% Pb and 0.48% Zn over 24.1 metres, including a high-grade intersection of 1,482.5 g/t Ag, 1.65% Pb and 0.78% Zn over three metres.

Solex is also pleased to confirm that its personnel and their families in Peru are safe and well following the tragic earthquake that hit the country recently.

Remaining significant results from Princesa:



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HOLE # FROM TO LENGTH Ag g/t Pb% Zn% TARGET
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PRIN-50(i) 68.00 124.10 56.10 1.73 0.60 1.19 West Extension
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PRIN-53 52.50 76.60 24.10 273.20 1.18 0.48 West Extension
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includes 70.60 73.60 3.00 1482.50 1.65 0.78 West Extension
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PRIN-61 93.00 109.50 16.50 189.76 5.48 1.93 West Extension
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PRIN-62 59.50 80.25 20.75 37.51 0.95 0.43 West Extension
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(i) PRIN-50 is updated from the information released previously, where a
partial intersection was reported to be 40.5 metres.


Holes PRIN-50 and PRIN-46 represent a 900-metre step-out and a 1,200-metre step-out, respectively, to the west of the original surface anomaly (North Limb). Hole PRIN-53, mentioned above which has the most significant intercept of the program, is a shallower cut drilled on the same section line as PRIN-50. A location map showing the drill holes and an outline of the geophysical anomaly can be found, along with full drill results, on the Solex website at www.solexresources.com.

The Princesa deposit now consists of a mineralized zone cut by more than 30 drill holes that dips 55 to 65 degrees to the north and extends over 1,700 metres along strike and 50 metres down dip, with an average grade of 45.77 g/t Ag, 0.855% Pb and 0.909% Zn over an average true width of 12.95 metres. In addition, mineralization still remains open to the northwest and to the east of the original North Limb anomaly.

At this stage, the main area of interest at Princesa appears to be the western extension to the North Limb. This new anomaly (West Extension), which shows no surface expression, can be traced for over 1,000 metres west of the main Princesa target. In mineralogical terms, the West Extension is similar to the North Limb but contains a marked increase in zinc values locally and the mineralization occurs over much greater widths.

States Jonathan Challis, President of Solex: "These encouraging results indicate that the Princesa prospect is much larger than previously believed. Higher silver and lead-zinc grades are also being found in new anomalous zones and mineralization is still open to the northwest and to the east. At this point, an expanded work program is definitely justified. In line with our strategy to focus on our uranium projects and to spread risk, the company's next step for the Princesa project is to compile the data for submission to potential joint ventures partners that can bring additional resources and expertise to advancing the project."

Drill core samples consist of half HQ or NQ diamond cores that are split by a diamond saw on site. The samples are then sent to ALS-Chemex receiving facility in Arequipa, Peru, and then forwarded onto the laboratory in Lima, Peru, for processing. Assaying consists of ICP-AES multi-element analysis with over-limit checks competed for Ag (over 100 g/t), Pb (over 1%) and Zn (over 1%) by Atomic Absorption (AA) spectrometry. Over-limits for silver values greater than 1,500 g/t were completed using a gravimetric fire assay. The quality control protocols that are in place consists of insertion of one blank at least every 20 samples and a field or lab duplicate every 20 samples. In addition, standard reference material are inserted once every 20 samples. The remaining half cores are retained on site for future verification and reference purposes. The drilling and exploration programs at Princesa are under the supervision of Buscore Consulting's project manager, Luis Igreda, G.I.T.

Dale Schultz, P.Geo and managing director/chief consultant of Buscore International Consulting, has been retained by Solex to provide QP services in compliance with National Instrument 43-101. Mr. Schultz has reviewed the contents of this release for accuracy.

Geophysical surveys were completed by JVX Ltd. and were supervised by C.J. Hale, Ph.D., FGAC, P.Geo. Dr. Hale has reviewed for accuracy the portions of this release that pertain to the geophysical surveys.

Solex is a mineral exploration company engaged in the acquisition and exploration of uranium and base metal properties in the Republic of Peru. The Company is currently active on four projects: the Macusani East uranium project (50/50 joint venture with Frontier Pacific Mining Corporation); the Macusani West uranium project (100%); the Pilunani lead-zinc project (100%); and the Princesa lead-zinc-silver project (100%).

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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