Solitaire Minerals Corp.

Solitaire Minerals Corp.

March 27, 2006 16:00 ET

Solitaire Minerals Corp. Announces a 20 Hole Diamond Drill Program for the Chukuni Property in Red Lake, Ontario

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (the "Company") is pleased to announce a 20 hole diamond drill program consisting of a minimum 3,000 meters to begin approximately April 10, 2006 on the Chukuni property located in the Red Lake mining district of Ontario, Canada. This current start date for the drilling will be affected by break-up and the completion of the driller's current obligations. The Company's 100% owned Chukuni property is located immediately south of and adjoining the Goldcorp Red Lake Mine property. The Chukuni property is approximately 3 kilometers south of Goldcorps new mine shaft and 4 kilometers south of the historic Red Lake mine.

To date, results of the airborne geophysical survey completed by Terraquest Ltd. of Toronto, Ontario, have been interpreted by Mr. Roger Watson, P.Eng, the Consulting Geophysicist. In addition, a ground based Gravity Survey, has been performed on the claims by Al Spector, Ph.D., of Allan Spector & Associates Ltd., of Toronto, Ontario. This recent work has defined a wnw-trending gravity anomaly that parallels the regional gravity anomaly that demarks the major deformation/alteration zone hosting the Goldcorp Red Lake Mine and the Placer Dome Campbell Mine. This potential parallel deformation zone is crosscut by northeast trending faults as defined in the recent magnetic survey.

The interpreted deformation zone consists of high-density mafic-intrusives, and mafic volcanics, bounded by granodiorites to the north, and granodiorites and mafic volcanics to the south.

To learn more about the Chukuni property visit our link at

Also for a detailed map of our property locations in the Red Lake area visit our link at

Mr. Garry Clark, P.Geo, will be the Qualified Person on the Chukuni property.

The Company would like to announce that it has arranged a private placement of up to 3,000,000 units at a price of $0.25 per unit for total proceeds of $750,000, subject to the approval of the TSX Venture Exchange. Each unit will consist of one flow-through common share and one full flow-through share purchase warrant, each full warrant entitling the holder to purchase an additional common share at a price of $0.30 per share in the first year and $0.35 per share in the second year.

The proceeds of the private placement will be used for exploration work on the Company's mineral properties.

The Company also like to announce that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 1,600,000 common shares in the capital stock of the company, subject to regulatory approval, exercisable for a period of two years, at a price of $0.25 cents per share. These options are subject to a four-month hold period.

About Solitaire Minerals Corp.

Solitaire Minerals Corp. is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, and Alberta. Solitaire's Ontario properties in the Red Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River Prospects, in which the Company has agreements to earn 100% in, but has not yet vested its interest. In addition, the Company has entered into an option agreement with another company, whereby that company may earn up to a 75% interest in the Baird Property. The Company also has an option to earn 100% in the Lateral Lake West property located in the Webb township of Ontario. In Saskatchewan, the Company has signed a purchase agreement to acquire a 100% interest in the Highrock Lake property and a 90% interest in the Riou Lake Property located in the Athabasca Basin. The Company has also acquired the Riou Lake North and South properties in which the company has 100% interest. In Alberta, the Company has acquired 100% interest in the 150,000 acre Ravenscrag property.

On Behalf of the Board of Directors


Charles Desjardins, Director

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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