Solitaire Minerals Corp.
TSX VENTURE : SLT

Solitaire Minerals Corp.

April 05, 2011 17:26 ET

Solitaire Minerals Corp. Has Contracted Consul-Teck to Work on Its Windfall Lake Land Package Located in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2011) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) has contracted Consul-Teck out of Val d'or, Quebec to review the historical data on its Windfall Lake Land Package and to prepare an extensive work program.

To review Solitaire's current Land position in the Windfall lake area visit the following link: http://www.solitaireminerals.com/pdf/exploration/windfall_map.pdf.

Solitaire's property is located along the southwest trend of Eagle Hill Exploration Corp.'s Windfall Lake project and BonTerra Resources Inc.'s Eastern Extension property. Eagle Hill's Windfall Lake property hosts high-grade gold veins and has potential for wide mineralized zones of gold mineralization which has underground and near-surface bulk mining potential.

To review BonTerra's most recent announcements visit the following link: www.bonterraresources.com.

To review Eagle Hill's most recent announcements visit the following link: http://www.eaglehillexploration.com/.

Mike Magrum, P.Eng., a qualified person under National Instrument 43-101, has approved the technical content of this news release.

Solitaire Announces Private Placement

Solitaire has arranged a non-brokered private placement of up to 10,500,000 units at a price of $0.05 per unit for total proceeds of up to $525,000 subject to the approval of the TSX Venture Exchange.

Up to 5,000,000 units will be issued as non flow-through units consisting of one common share and one full warrant. One full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year.

Up to 5,500,000 units will be issued as flow-through units consisting of one common share and one half (1/2) share purchase warrant, one full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share in the first year, $0.12 per share in the second year, and $0.15 per share in the third year. 

The proceeds of the private placement will be used for exploration work on the Company's mineral properties and general working capital. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.

About 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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