Soltoro Ltd.

Soltoro Ltd.

December 16, 2010 09:00 ET

Soltoro Contracts Scott Wilson Roscoe Postle Associates Inc. to Provide a Revised Resource Estimate for El Rayo Silver Project

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2010) - Soltoro Ltd. (TSX VENTURE:SOL) has engaged Scott Wilson Roscoe Postle Associates Inc. to provide an updated NI 43-101 compliant mineral resource estimate for the Las Bolas silver deposit to include results from the latest step-out drill holes, as well as a resource estimate for the Highway Zone. Metallurgical test work, to be included in the report, is being carried out by Kappes Cassiday and Associates. The Mineral Resources of the Las Bolas deposit area reported in the NI 43-101 report released in May of 2010 included Indicated Mineral Resources and Inferred Mineral Resources as listed in the table below.

Las Bolas Deposit & Matachines Zone Resource Estimates, as of May 2010
Deposit Cut-off grade Tonnes Grade in Contained
Zone (g/t Ag)   (g/t Ag) ounces of silver
Indicated Mineral Resources
Las Bolas 40.0 9,470,000 69.4 21,100,000
Inferred Mineral Resources
Las Bolas 40.0 1,800,000 67.4 4,000,000
Matachines 40.0 400,000 65.0 850,000
  1. CIM definitions were followed for Mineral Resources.
  2. Mineral Resources were estimated using a price of US$16.00/oz Ag.
  3. Mineral Resources are estimated at the cut-off grade of 40 g/t Ag.
  4. A minimum mining width of 5.0 metres was used.
  5. Density of 2.5 tonnes/m3 is used for the mineralized material.
  6. Tonnage, average grade, and contained ounces are rounded.

The NI-43-101 report also included the exploration potential for the Highway Zone, which is situated approximately 450 m south of the main Bolas Structure. At a 40 g/t Ag cut-off grade, the geological potential for mineralization in this zone was reported as 2 million to 2.3 million tonnes at an average grade ranging from 73 g/t Ag to 79 g/t Ag.

Soltoro considers the potential quantity and grade of the Highway Zone to be conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource.

Select drill results from the 10 step-out holes to be included in the updated NI 43-101 resource estimate include the intersections listed below:

Section Drill Structure From: To: Interval: g/t Ag
Line: Hole:       (metres)  
S1 DDH41 Las Bolas 3 175.5 172.5 46
  including   138 171 33 80
S4 DDH46 Las Bolas 20 279.7 259.7 50
  including   20 107.5 87.5 72
S12 RC118 Las Bolas 202.5 256.5 54 76
  including   235.5 250.5 15 125
S14 RC117 Las Bolas 181.5 243 61.5 106
  including   205.5 235.5 30 172

The updated resource estimate of the El Rayo Property in the NI 43-101 Technical Report by Scott Wilson RPA will be released in Q1 of 2010.

Mr Terence J. Bottrill, P.Eng., a consultant, member of the advisory board of the Company and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release.

The May 2010 NI 43-101 resource estimate was completed by Hrayr Agnerian, M.Sc. (Applied), P.Geo.. Mr Agnerian is the Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the data disclosed in this release.

About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company continues to develop its El Rayo silver-gold project to expand the existing NI 43-101 compliant silver resource. Soltoro has also recently completed a mapping and sampling program at its Peña Grande project; and is actively advancing its Victoria, Quila, Tortuga, Chinipas and El Santuario projects. Soltoro has 37,665,225 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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