SOURCE: Solitaire Minerals Corp.

August 14, 2009 16:34 ET

Solitaire Minerals Corp. Closes Private Placement

VANCOUVER--(Marketwire - August 14, 2009) - Solitaire Minerals Corp. (TSX-V: SLT) (Solitaire) would like to announce that the non-brokered private placement announced on July 28th, 2009 has closed. The Company raised $684,960 at a price of $0.12 per share.

A total of 5,708,000 million units were issued as non-flow-through units consisting of one common share and one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents per share for a 5 year period.

Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring December 14, 2009. The proceeds of the private placement will be used for exploration of the company's mineral properties and general working capital.

The following pros and insiders participated in the private placement;
Pro group: Kerry Chow 250,000
Insider Group: Charles Desjardins 100,000

Finders' fees: $27,360 cash and 228,000 warrants (same terms as private placement above) payable to PI Financial Corp. $7,800 cash and 65,000 warrants (same terms as above) payable to Bolder Investment Partners. $1,560 cash and 13,000 warrants (same terms as above) payable to Canaccord Capital Corp.

Solitaire would also like to announce the appointment of Mr. Peter Dickie to the Board of Directors. Mr. Dickie is a businessman with over 20 years of experience with both public and private companies holding numerous senior management positions. Mr. Wayne Shay recently announced his resignation as director of the company.

About Solitaire Minerals Corp. (TSX-V: SLT) is a diversified Junior Canadian Mineral Exploration Company with a specific focus on mineral properties in North and South America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, the Northwest Territories, Quebec, and in southern Peru.

For additional information please contact Solitaire Minerals Corp. or visit www.solitaireminerals.com.

On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
"Charles Desjardins"

Charles Desjardins,
President and Director

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.

Cautionary note:

This report contains forward-looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

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