SOLTORO LTD.
TSX VENTURE : SOL

SOLTORO LTD.

May 30, 2011 10:34 ET

Soltoro Adds Second Drill and Intercepts 4.4 Metres of Silver Bearing Semi-Massive Galena at El Rayo Primary Silver Project in Mexico

TORONTO, ONTARIO--(Marketwire - May 30, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) - Two diamond drill rigs are currently testing the extent of the mineralization of the Soledad structure at the El Rayo silver project in Jalisco, Mexico. While awaiting results from the first four holes drilled at the Soledad structure, Soltoro completed step-out drill hole Ray11-65 on the south end of the Las Bolas structure. Ray11-65 was drilled 200 metres south of the Matachines mine and intercepted a silver-bearing semi-massive galena structure. The Company is awaiting final lead assay values which returned greater than 20% lead over 4.4 metres. Multi-element results from previously released drill hole Ray11-58 (see NR91) are provided below along with newly released step-out drill hole Ray11-65:

Deposit
Area:
Section
Line:
Drill
Hole:
From:To:Width:2
(metres)
Gold
(g/t)
Lead
%
Zinc
%
Silver
(g/t)
Silver Equ.3
(g/t)
MatachinesS22Ray11-58151.566.515.00.084.391.5023118
including56.060.04.00.158.080.0741214
72.077.05.00.032.670.241473
231.0245.014.00.010.080.054343
MatachinesS22Ray11-65159.0184.325.30.145.730.7844185
including159.0168.09.00.2911.461.5989371
including160.9165.34.40.53>20.0042.64128619
1Prior drill results release in NR 91 March 31, 2011.
2 All intersections are reported as drilled thickness. True widths are not known at this time but are believed to be similar to drilled widths.
3 $1,519 per oz Au, $37.19 per g/t Ag, $1.14 per lbs Pb, $1.01 per lbs Zn (all in $US) were used to calculate the silver equivalent, metallurgical recoveries & net smelter returns are assumed to be 100%.
4Awaiting final assay values.

Drilling to date indicates mineralization south of the Matachines mine on the south end of the Las Bolas structure, within the newly identified Soledad structure and in the Catarina mine area, is more structurally focused and higher grade than mineralization at the Las Bolas deposit. Trenching and a 15,000 metre drill program are underway to prove-up additional silver resources.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "The first four holes completed at Soledad were designed to test a 450 metre section of the presently known 600 metres of the Soledad structure. The high-grade silver ore shoot intercepted in Ray11-60 is located in the center of the Soledad structure and Soltoro has encountered significant silver values from trenching and drilling 225 metres along strike in both directions. A further 24 drill holes are planned to test a kilometre of known and projected structure, to include the intersection of the Soledad and Las Bolas structures, in order to define further high-grade silver ore shoots."

The Soledad structure is located southwest of the Las Bolas deposit and north of the Catarina structure, where high-grade silver ore shoots were first mined by the Spaniards beginning in 1546. The Soledad structure is covered by one to three metres of overburden and has been traced over a 600 metre strike length. It remains open along strike in both directions and is being tested for high-grade silver ore shoots. Results from three previously announced diamond drill holes are provided below (see NR94) along with newly released Ray11-62 located 225 metres east of drill hole Ray11-60:

Drill
Hole
FromToWidth2
(metres)
Gold
(gpt)
Silver
(gpt)
Uncut
Silver
(gpt)
Cut
3
Ray11-59158.568.710.20.027878
including66.068.72.70.08203203
Ray11-60126.047.621.60.10388286
including40.647.67.00.271,010695
including40.642.51.90.592,1601000
59.766.66.90.09527511
including65.066.61.60.151,0701000
Ray11-61148.154.56.40.02164124
including49.149.70.60.091,4201000
Ray11-6290.597.67.10.02122122
1Prior drill results released in NR94 April 20, 2011.
2All intersections are reported as drilled thickness. True widths are not known at this time but are believed to be similar to drilled widths.
3All values greater than 1,000 g/t Au cut to 1,000 g/t Ag.

The Soledad structure mineralization occurs along an off-set fault between the Las Bolas and Highway Zone mineralised structures where the Soledad mineralization is perceived to occur in a swell in a "pinch and swell" geological setting common to epithermal systems. The Company has been utilizing an airborne magnetic survey to further define zones of interest along the Soledad structure. Mapping and trenching of these new zones is underway.

To date the Company has released results for 22 trenches completed along the Soledad structure. Results for an additional 10 trenches have been received where 5 trenches returned mineralized intervals as follows:

Trench
Number
From
(m)
To
(m)
Length
(m)
Silver
g/t
Sol-2510.512.52.048
Sol-28103.23.259
Sol-2913.422.819.4137
Including5.49.64.2311
Sol-30105.45.459
Including04.04.0129
Sol-3114.022.08.081
1Sol-28, Sol-29 and Sol-30 are oblique to the strike & do not reflect the true width.

A trench & drill hole location map may be viewed at: http://www.soltoro.com/projects/pdf/DHTMAY26Soledad.pdf

Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed using a 30g fire assay with AA finish while the silver is analyzed using a four acid "near total" digestion package. Mr. Steven T. Priesmeyer, C.P.G., Vice President of Exploration for Soltoro Ltd. and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.

About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company continues to expand the existing NI 43-101 compliant primary silver resource on its El Rayo project. Soltoro has optioned a portion of its Quila claim to Timmins Gold Corp., optioned its Victoria and Coyote claims to Argentum Silver Corp. and is actively advancing its La Tortuga, Chinipas, El Santuario and Peña Grande projects. Soltoro has 49,635,018 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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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