Solitaire Minerals Corp.
TSX VENTURE : SLT

Solitaire Minerals Corp.

July 19, 2011 09:00 ET

Solitaire Minerals Corp. Continues its Work Program on the Red Lake North Project and Provides Property Updates

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 19, 2011) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) is well into its extensive ground program on the optioned Red Lake North Project. The program has included line cutting, prospecting and mapping. Solitaire is now proceeding to identify drilling targets for the summer 2011 drill program. When Solitaire completes its $750,000 program, it will then hold a 55% interest in the Red Lake North claims, and it will commence negotiations towards entering into a definitive joint venture agreement with Rubicon Minerals Corp.

Other Property Updates

The Stewart Property, British Columbia

Solitaire holds the undivided 100% right, title and interest on the Stewart Property, a 40 claim unit comprising a total land mass of 727.36 hectares located within the Stewart area of British Columbia. Solitaire accomplished this by paying the equivalent of $10,000 in common shares of the Company to the Optionor. The TSX Venture Exchange granted regulatory approval on the addendum to the original Agreement.

The Princeton Property, British Columbia

Solitaire holds the undivided 100% right, title and interest on the Princeton Property, a 10 claim unit comprising a total land mass of 1,680 hectares located within the Princeton area of British Columbia. Solitaire accomplished this by agreeing to amend the original contract with the Optionor.

The Agreement was amended by eliminating the terms on the first and second anniversary of the option agreement dated September 10th 2009. Those terms were replaced by a single cash payment of $60,000 (paid in full) from Solitaire to the Optionor. Both parties agreed that for an aggregate consideration of $110,000 cash and 500,000 shares of Solitaire Minerals Corp., that the option would be satisfied. The TSX Venture Exchange granted regulatory approval on the addendum to the original Agreement.

Windfall Lake Property, Quebec

Solitaire now holds the undivided 100% right, title and interest on the "Block A" Windfall Lake Property as Geo Minerals Ltd. declined to further pursue the option agreement that it had entered into. Block A is Solitaire's most northerly Windfall Lake property located in northwestern Quebec, Canada.

Chukuni Red Lake, Ontario

Solitaire now holds the undivided 100% right, title and interest on the Chukuni Property as Ashburton Ventures Inc. (Ashburton) declined to further pursue the option agreement that it had entered into. Ashburton reported assays on the 1,006 meter diamond drill program that was completed in March, 2010. The drilling program was considered a technical success in explaining the source of the IP anomalies as above average sulphide concentrates but did not encounter significant gold values. Mr. Andrew Tims, P.Geo, was the qualified person under National Instrument 43-101.

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.

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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