Solitaire Minerals Corp.
TSX VENTURE : SLT

Solitaire Minerals Corp.

July 08, 2010 16:35 ET

Solitaire Minerals Corp. Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2010) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) would like to announce that the non-brokered private placement announced on June 15th, 2010 has closed. The Company raised $545,250 at a price of $0.05 per share.

A total of 6,845,000 units were issued as flow-through units consisting of one common share and one-half of 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 10 cents per share for a period of two years.

A total of 4,060,000 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 10 cents per share for a period of two years.

Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring November 8, 2010. 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 1,600,000 flow through, Ivano Veschini 200,000 non-flow-through
Insider Group: Charles Desjardins 100,000 flow-through

Finders' fees: $30,000 cash and 600,000 warrants (same terms as private placement above) payable to PI Financial Corp. $3,500 cash and 70,000 warrants (same terms as above) payable to Bolder Investment Partners. $1,000 cash and 20,000 warrants (same terms as above) payable to Union Securities Ltd.

About Solitaire Minerals Corp.

Solitaire Minerals Corp. (TSX VENTURE:SLT) is a diversified Junior Canadian Mineral Exploration Company with a specific focus on precious and base metal properties in North America. In addition, the Company intends to acquire Metallurgical coal leases. Solitaire continues to negotiate for coal leases with near and long term production potential.

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, President and Director

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.

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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