Solitaire Minerals Corp.
TSX VENTURE : SLT

Solitaire Minerals Corp.

December 20, 2010 17:43 ET

Solitaire Minerals Corp. Increases Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2010) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) reports that the non flow-through portion of the private placement announced on November 30th 2010 has been over-subscribed. In total, Solitaire has sold 10,160,000 non-flow-through units at a price of $0.05 and an additional 11,784,285 flow-through units have been sold at a price of $0.07, pending the approval of the TSX Venture Exchange. 

Each non-flow-through unit consists of one common share and one transferable share purchase warrant. One transferable share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for the first year and $0.125 per share until expiration on the second year.

Each flow-through unit consists of one common share and one half (1/2) transferable share purchase warrant. One transferable share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for the first year and $0.125 per share until expiration on the second year.

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

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.

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

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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