Soltoro Ltd.

Soltoro Ltd.

July 12, 2011 08:39 ET

Soltoro Announces $4.5M Financing With Coeur d'Alene Mines

TORONTO, ONTARIO--(Marketwire - July 12, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) ("Soltoro" or the "Company") is pleased to announce that Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM) ("Coeur d'Alene") has executed a term sheet to make a $4.5 million investment in Soltoro. Coeur d'Alene intends to purchase 4,500,000 common shares of Soltoro at $1.00 per share in a private placement transaction (the "Financing") as an investment. Closing of the Financing is subject to the execution of a definitive subscription agreement and approval of the TSX Venture Exchange.

Andrew Thomson, President and CEO of Soltoro, stated, "The Coeur d'Alene financing is a strong endorsement of Soltoro's El Rayo primary silver project. Coeur d'Alene is a U.S.-based primary silver producer with experience in developing several silver mines worldwide, including Mexico."

The proceeds of the Financing will be used for the continued exploration and advancement of Soltoro's El Rayo Silver Project in Mexico and for general corporate purposes.

About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company has two diamond drills operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. An orientation drill program is also being carried out at the Chinipas project in the State of Chihuahua to investigate the potential for a bulk mineable gold deposit. Soltoro has optioned a portion of its Quila claim to Timmins Gold Corp. and optioned its Victoria and Coyote claims to Argentum Silver Corp. The Company continues to actively advance its La Tortuga, El Santuario and Peña Grande projects. Soltoro has 50,025,018 shares outstanding (prior to closing this financing) and trades on the TSX Venture Exchange under the symbol SOL.

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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