Solitaire Minerals Corp.

Solitaire Minerals Corp.

September 01, 2010 09:00 ET

Solitaire Minerals to Receive Cash and Shares From AM Gold Inc. to Pay Outstanding Debt on the Pinaya Property, Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2010) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) reports that AM Gold Inc., formerly known as Acero-Martin Exploration Inc., has entered into an agreement to settle its outstanding debt with Solitaire in the amount of $300,000. Under the settlement agreement, AM Gold Inc. is to pay Solitaire $100,000 in cash and issue the cash equivalent of $200,000 in common shares of AM Gold Inc. issued at $0.35 per share, subject to regulatory approval. The $300,000 settlement satisfies all obligations between Solitaire and AM Gold Inc. for a proposed joint venture program at the Pinaya property in Peru. The agreement was terminated by then Acero-Martin Exploration Inc. by way of press release dated April 29, 2010.

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. 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

On Behalf of the Board of Directors


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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