Soltoro Ltd.
TSX VENTURE : SOL

Soltoro Ltd.

July 19, 2011 15:22 ET

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

TORONTO, ONTARIO--(Marketwire - July 19, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) ("Soltoro" or the "Company") has closed the previously announced non-brokered private placement offering (the "Financing") of 4,500,000 common shares of Soltoro at $1.00 per share for aggregate gross proceeds of $4,500,000 with Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM) ("Coeur d'Alene"). As part of the Financing, Coeur d'Alene has been granted a first right of refusal to maintain its current proportionate interest in Soltoro by participating in each of the next two financings undertaken by Soltoro. In addition, Coeur d'Alene has agreed to a standstill, whereby it will not purchase any shares of Soltoro that would result in Coeur d'Alene, together with any affiliates, holding over 9.9% of the issued and outstanding shares of Soltoro, except in accordance with a take-over bid for 100% of the issued and outstanding shares of Soltoro. Upon completion of the Financing, Coeur d'Alene held approximately 8.2% of the issued and outstanding shares of Soltoro.

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.

The common shares issued pursuant to the Financing will all be subject to a four-month regulatory hold period from the date of closing. The Financing is subject to TSX Venture Exchange acceptance of requisite regulatory filings.

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 54,719,482 shares outstanding (after 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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