Soltoro Ltd.
TSX VENTURE : SOL

Soltoro Ltd.

September 10, 2010 09:29 ET

Soltoro Drilling Returns 172.5 Metres of 46 gpt Silver at El Rayo Primary Silver Project in Mexico

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2010) - Soltoro Ltd. (TSX VENTURE:SOL) recently completed a 10 hole step-out drill program to the north of the Las Bolas deposit area aimed at increasing the size of the known NI 43-101 resource. Metallurgical work is also underway at Kappes Cassiday and Associates with the goal of increasing estimated silver recoveries thereby lowering the cut-off grade of the deposit. This two phased approach is designed to add significant silver ounces to the existing 21.1 million ounce indicated and 4.85 million ounce inferred silver resource.

Complete results have been received on the first three holes of the 10-hole program. Assays from the main zone, at depth, of diamond drill hole DDH41 and reverse circulation holes RC117 & RC118 were previously reported on August 19, 2010. Subsequent assays from the upper portions of the holes are included in the following results:

Section Drill Structure From: To:     Interval: Silver:
Line: Hole:           (metres) (gpt)
S1 DDH41 Las Bolas 3.0 175.5     172.5 46
  including   138.0 171.0     33.0 80
S14 RC117 Las Bolas 181.5 253.5     72.0 95
  including   205.5 235.5     30.0 172
S12 RC118 Las Bolas 202.5 261.0     58.5 73
  including   235.5 250.5     15.0 125

Andrew Thomson, President and C.E.O., stated: "The continuous mineralization in oxide material from surface to the bottom of diamond drill hole DDH41 is highly encouraging in terms of both tonnage and the potential strip ratio. The thickness of the deposit expands considerably at depth indicating the potential for a sizeable bulk tonnage primary silver deposit. Further deep drilling, below the oxide zone, is warranted to test for the source of the mineralization."

The Company has received partial assays values for holes DDH42, DDH43 and DDH44. Hole DDH43 is the northern most hole drilled above the main zone and, while intersecting the structure, returned no values of economic significance. Values returned for holes DDH42 and DDH44 are only partially complete as further core cutting from the top of the holes was required. Results returned from the bottom of holes DDH42 and DDH44 were returned as follows:

Section Drill Structure From: To:     Interval: Silver:
Line: Hole:           (metres) (gpt)
S2 DDH42* Las Bolas 215.4 258.0     42.6 70
S8 DDH44* Las Bolas 207.8 246.0     38.2 56
  including   214.5 237.0     22.5 70

*Additional assaying is underway to determine the full extent of mineralization in these holes

Cross sections for all holes announced above may be viewed on the Company's website at:

http://www.soltoro.com/projects/pdf/LasBolasSept2010.pdf.

Once Soltoro has received drill results for all ten step out drill holes in the Las Bolas deposit area and results from metallurgical testing underway, an internally authored revised resource estimate will be released. This will be followed up by a third party NI 43-101 compliant report. 

The NI 43-101 resource report released in May of 2010 detailed the following indicated and inferred resources:

Las Bolas Deposit Resources-May 2010
Deposit
Area
Cut-off
grade

silver g/t
Tonnes

 
Grade in
silver g/t
  Contained
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

Within the NI-43-101 report, a target deposit calculation was provided for the Highway Zone which is an offset continuation of the Las Bolas structure. The final diamond drill hole of the summer 2010 drill program was completed to move the target deposit calculation for the Highway Zone into a resource category. The target deposit potential of the Highway Zone was reported as follows:

Target Deposit Potential – Highway Zone – May 2010
Mineralized
Zone
Cut-off
grade

silver g/t
  Range of
potential
tonnes
  Potential ounces of
silver
inventory
Highway Zone 40   2 to 2.3 Million   5.3 to 5.7 Million

Soltoro considers the potential quantity and grade of the material at 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. The target deposit calculation is based on a total of 16 reverse circulation drill holes.

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. Field supervision of the El Rayo project is provided by Mr. Chris Lloyd, M.Sc., Vice President, Exploration.

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 35,047,850 shares outstanding 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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