Solex Resources Corp.

Solex Resources Corp.

October 20, 2005 09:30 ET

Solex Resources Corp. Stakes Additional Properties in the Macusani District, Southern Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - Solex Resources Corp. (TSX VENTURE:SOX)(CNQ:SOLX) -

- Joint Venture Adds 13 New Uranium Properties - 11,300 hectares

- New targets - 39 Uranium Prospects and 33 Uranium Anomalies

- Approximately 95% of this Area is Covered by Ignimbrite Flows

Solex Resources Corp. ("Solex" or the "Company"), together with Joint Venture ("JV") partner, Frontier Pacific Mining Corporation (TSX VENTURE:FRP), is pleased to announce that, following further exploration in the Macusani district, the JV has decided to stake an additional 13 properties over an area of 11,300 hectares. This brings the total area controlled by the JV to 73 properties totalling 48,400 hectares in the Macusani district. Approximately 95% of this area is covered by ignimbrite flows, which have a background averaging 12 ppm uranium and 19ppm thorium. The Peruvian Institute of Nuclear Energy (the "IPEN") explored this district in detail in the 1970's and 1980's and has outlined 39 uranium prospects and 33 uranium anomalies mapped inside the JV's property.

The JV has now located several of these prospects and have completed detailed exploration work on the targets now known as Calvario I, Calvario II, Agaton I, Sayana and Amaisha and have started work on Chilcuno Grande and Huiquiza Derecha, among others.

The uranium assays for Calvario II and Sayana were published in the recent News Release dated September 30, 2005 where composite chip samples taken over a panel at the base of the trenches carved into bedrock over the width and length of each trench of between 40 cm and 60 cm wide and two to four metres long.

The regional exploration work currently underway has resulted in a further three additional targets being located. The first one was identified in IPEN's work known as, Chachacuniza. In this location, geologists verified one of the mineralised zones using a scintilometer and collected panel samples over an area of 15 cm x 1 metre on an outcrop along the mineralised fracture, which assayed 0.13% uranium. Another mineralised outcrop was located 2 km East of Chachacuniza on the Sillatoco property where two panel samples 15 cm x 1 metre were taken in two mineralised areas which assayed 0.14% and 0.67% uranium. A third target was located in the recently staked property named Falchani, where a mineralised area was identified over a length of 400 metres and three panel samples, each covering an area of 15 cm x 1 metre reported assay values of 0.241%, 2.39% and 0.149% uranium. These three recently discovered targets will now be explored in detail with geologic and structural mapping, trenching, radiometric detailed surveys and alpha tracking to establish additional drill targets.

Currently Val D'Or Geophysics is executing a detailed radiometric survey in these areas of over 150 line kilometres and will continue, using three crews, a regional radiometric survey of approximately 350 line kilometres planed in the forthcoming weeks.

Jonathan Challis (FIMMM), a Qualified Person, as defined by NI43-101, prepared and reviewed the information in this News Release.


Solex is an exploration development stage company engaged in the acquisition and exploration of mineral properties, focussing on southern Peru. Solex has four main properties: Pilunani (lead-zinc-silver); Macusani (uranium); Cullquimayo (copper-silver-uranium) and Princesa (silver).

On Behalf of the Board of Directors


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 Inc. does not accept responsibility for the adequacy or accuracy of this news release.

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