Solid Resources Ltd.
TSX VENTURE : SRW
OTCQX : SLDRF
FRANKFURT : YRS

Solid Resources Ltd.

January 23, 2013 09:00 ET

Solid Resources Announces Assay Results for Tin/Tantalum Project, Spain; Results Include 11.25m Averaging 960 ppm Tin, 143 ppm Tantalum

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2013) - Solid Resources Ltd. (TSX VENTURE:SRW)(OTCQX:SLDRF)(FRANKFURT:YRS) ("Solid" or the "Company") announced today the complete assay results from its 2012 Drill Program on its 100% owned Alberta-1 (Doade-Presqueiras) concession located in north-western Spain, 25 km east of the port city of Pontevedra.

The 2012 Drill Program, previously announced on September 10, 2012, was initiated on September 5, 2012. The drilling campaign was programmed with infill drilling to complete a 50 m x 50 m grid in just the northern zone of the deposit (Presquerias). This would allow those resources previously classified as indicated and inferred to meet the directives of the Spanish mining authorities for classification as NI 43-101 compliant "measured resources" and enable commencement of exploitation of the entire 3,690 Ha concession. The systematic geological continuity and consistency found in the mineralized pegmatite dykes allowed for the reduction of the number of drill holes originally scheduled in order to meet the measured reserve requirements for permit application. In total, eighteen holes were drilled for a total of 1,570.2 meters.

The tonnage of the measured resource estimates is easily in excess of requirements to proceed with the application for an Exploitation Permit.

Drill hole intersections with weighted average assay results:

DRILL HOLE ID: FROM
(m)
TO
(m)
LENGTH
(m)
Sn
(ppm)
Ta2O5
(ppm)
Nb2O5
(ppm)
Li2o
(%)
Rb
(ppm)
SO-12-26 23.2 24.65 1.45 934 232 172 0.02 630
25.75 29.3 3.55 975 123 139 0.02 804
31.3 33.8 2.5 769 134 154 0.03 698
85.5 86.7 1.2 526 61 96 0.01 339
93.4 94.5 1.1 527 122 144 0.03 640
111.5 116.85 5.35 671 78 114 1.02 836
PRE-12-07 25.95 30.30 4.35 1434 76 134 0.07 770
53.5 54.60 1.10 2050 134 222 0.04 640
SO-12-14 35.45 42.1 6.65 934 81 118 0.58 841
53.15 55.65 2.5 953 127 152 0.06 688
SO-12-25 27.60 32.20 4.60 1365 146 146 0.16 1022
84.45 85.40 0.95 1170 49 116 0.02 630
94.20 98.75 4.55 1024 80 117 0.98 906
PRE-12-18 17.25 18.60 1.35 1080 122 133 0.05 1030
23.25 24.75 1.50 1280 171 189 0.12 790
27.90 29.35 1.45 1470 122 144 0.08 540
88.25 91.65 3.40 896 60 115 0.54 657
102.80 105.90 3.10 1412 74 122 0.88 620
SO-12-10 48.30 59.30 11.00 828 113 121 0.75 977
60.20 60.75 0.55 728 147 147 0.09 427
61.30 61.80 0.50 232 85 92 0.05 363
SO-12-11 55.50 66.75 11.25 960 143 145 0.17 818
SO-12-06 36.65 48.10 11.45 769 119 120 0.72 1043
SO-12-15 41.30 51.40 10.10 875 137 129 0.73 1012
SO-12-18 38.00 41.00 3.00 865 171 163 0.21 893
41.65 43.10 1.45 768 122 133 0.08 730
62.55 65.55 3.00 651 126 129 .28 887
72.50 77.20 4.70 787 124 140 0.75 756
SO-12-16 65.30 77.90 12.60 883 131 132 0.49 903
SO-12-20 47.80 52.45 4.65 865 140 142 0.62 1083
53.80 54.35 .55 641 73 76 0.26 750
56.95 57.60 0.65 859 183 177 0.03 412
95.50 103.50 8.00 960 96 123 0.48 1015
SO-12-06B 44.30 55.65 11.35 852 129 127 0.28 883
SO-12-13 1.00 2.90 1.90 1141 103 163 0.04 419
51.70 61.60 9.90 780 121 134 0.61 1111
67.10 68.55 1.45 525 110 120 0.06 353
SO-12-07 24.60 26.95 2.35 861 167 137 0.01 494
27.85 29.00 1.15 1100 208 137 0.02 490
SO-12-21 8.70 11.35 2.65 1041 126 124 0.08 541
17.05 18.40 1.35 417 159 116 0.04 540
31.00 32.30 1.30 585 159 137 0.02 490
SO-12-12 17.40 24.80 7.40 734 148 133 0.02 665
26.10 26.70 0.60 429 147 122 0.03 560
SO-11-12-CONT 145.00 158.40 13.40 469 78 113 1.02 971

Intercepts represent 90% true thickness.

The Company is now undertaking a Scoping Study, in addition to bulk sampling 100 tons for concentration tests at the designated pilot plant, following the recommendations of the SGS metallurgical report.

"This latest drill program is on time and below budget," stated Greg Pendura, president and CEO. "With economical average grades of 800 ppm of tin, 110 ppm of tantalum and 0.5% lithium, we are anticipating making our submission to the Spanish Mining Authority by the end of February, 2013. We are excited about entering the final phase of the project and working towards the implementation of a commercially viable mining operation once this permit has been obtained."

The Company will report the results of the reserve estimate and Scoping Study very shortly.

Dr. Alfonso S. Gracia Plaza, Doctor of Science in Economic Geology, is the Director of the ALBERTA-1 Project and supervises the Company's exploration program on the project. He is responsible for the technical reporting in this news release and is the Company's "Qualified Person" for the purpose of NI 43-101.

Solid Resources is a Canadian junior mining company focused in Spain on the exploration and development of rare and precious metals and industrial commodities worldwide. The Company is currently in the late stage of quantifying the presence of tantalum, tin, lithium and other rare minerals on its Alberta-1 property in north-western Spain and re-opening 62 iron ore concessions in south-eastern Spain.

Certain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as "could", "should", "expect", "believe", "will" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid's filings with the Canadian Securities Regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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