Soltoro Ltd.

Soltoro Ltd.

September 20, 2007 10:14 ET

Soltoro Intercepts 6 Metres of 6.08 gpt Gold & 19.5 Metres of 187 gpt Silver at El Rayo Project

TORONTO, ONTARIO--(Marketwire - Sept. 20, 2007) - Soltoro Ltd. (TSX VENTURE:SOL) has completed a 5,530 metre orientation diamond drill program at the El Rayo project in Jalisco, Mexico which is being investigated for the presence of a bulk tonnage silver lead gold deposit. Drilling in the final phase of the program tested priority geophysical targets and extensions to mineralized structures along strike from the property's historic silver-lead resource area. This phase was modified to investigate previously untested zones of mineralization along strike from the known resource area resulting in only 4 of 14 priority airborne geophysical targets being drill tested.

Andrew Thomson, the President of Soltoro, reports: "We are extremely encouraged by the latest drill results as widths and grade of the mineralized zones at depth are sufficient to support both open pit and underground mining for gold and silver. These new zones fall outside of the property's historic resource area and have seen little to no exploration nor drilling previously. To date, Soltoro has defined 5 kilometres of mineralized structures open on strike to the north east and north west."

El Rayo North West Structure: Prior trenching along the north west extension of the 2.4 kilometre El Rayo structure identified a previously unrecognized gold zone with an 825 metre strike length. Four drill holes were completed from 3 separate locations along this extension. The most significant results reported from these 4 holes are presented in the table below and include a silver equivalent value based on a silver to gold ratio of 55:1 (US $660 and $12.00 for gold and silver respectively):

El Rayo Structure Drill From: To: Width Gold Silver Lead Eq.
Location Hole: Metres gpt gpt % gpt(i)
200m NW El Rayo Mine Ray-07-35 64.5 102 37.5 1.78 31 0.3 130
(testing trench 24) including 70.5 76.5 6 6.08 10 0.4 344
150m NW El Rayo Mine Ray-07-34 55.5 70.5 15 1.56 9 0.13 95
(testing trench 24) including 55.5 60 4.5 3.98 11 0.21 230
100m SW El Rayo Mine Ray-07-33 43.5 46.5 3 2.38 129 1.13 260
(testing trench 15) Ray-07-33 57 60 3 1.09 35 1.16 95
Gavilan Mine Ray-07-29 57 58.5 1.5 0.99 63 0.28 117
(testing trench 7) Ray-07-29 84 93 9 0.41 80 0.91 103
(i)Lead values not included in the silver equivalent calculation,
metallurgical recoveries & net smelter returns are assumed to be 100%

Las Bolas North East Structure: Drilling and trenching along the north east extension of the 800 metres Las Bolas structure has extended the mineralized strike length of the structure an additional 900 metres for a total strike length of 1,700 metres. Two drill holes were completed below the Arturo and Ernesto Mines along this extension. Significant results were returned as follows:

Las Bolas Structure Drill Hole: From: To: Width Gold Silver Lead
Location Metres gpt gpt %
Arturo Mine Ray-07-38 64.5 84 19.5 0.03 187 0.13

Diatreme zone: Drill hole 28 tested the centre of airborne geophysical Anomaly 25, a 700 metre long by almost 400 metre wide magnetic low 1,150 metres north of the Catarina mine, situated between the El Rayo and Las Bolas structures. This area has never been prospected, mined or drill tested as it is covered by overburden for the most part. The hole intercepted what is believed to be an intrusive matrix diatreme from 12 metres to 467 metres and terminated without exiting diatreme material. Drill hole 28 returned anomalous gold and silver values as follows:

Airborne Geophysical Drill Hole: From: To: Width Gold Silver
Target Location Metres gpt gpt
Anomaly 25 Ray-07-28 126 127.5 1.5 0.44 7
1150m N of Catarina Mine

Chris Lloyd, the Vice President of Exploration reports: "The discovery of an igneous matrix diatreme breccia of a style similar to the Penasquito Deposit in northern Mexico is an exciting development at El Rayo and represents a new target style and potentially significant area. While only one interval returned anomalous values in this hole, a wide interval of over 200 metres was noted with strong silicification and disseminated pyrite indicating a hydrothermal fluid has affected this intrusive body. At the Penasquito Deposit the better mineralized areas are associated with faulting, fractures and zones of silicification along the periphery of the breccia body. These peripheral zones could represent the best drill targets for mineralization and remain to be tested."

Soltoro is conducting more detailed mapping and sampling programs on the diatreme and the Rayo gold zone, including a topographic survey. The Company is reviewing and compiling data prior to designing a resource definition drill program at Rayo and new work in several other areas such as the Diatreme zone. Meanwhile, the Company is focusing its efforts on the Bacanora bulk tonnage gold project in Sonora, where drilling is now underway.

A summary of results and maps detailing features of the orientation drill program are available at the company's website:

All diamond drilling at the El Rayo project is being carried out using HQ diamond core. Assaying of samples was completed by ALS Chemex through their office in Guadalajara, Mexico. Silver and other base and trace elements were analyzed using four acid "near total" digestion with an ME-ICP finish. Gold was analyzed using a 30g fire assay with AA finish. Internal standards provided by an independent company and locally derived blank samples are being inserted for quality control purposes. Mr. William McGuinty, P.Geo, a director of the Company and qualified person as defined by NI 43-101 has reviewed the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Chris Lloyd, Vice President, Exploration.

Soltoro is a junior exploration company active in Mexico with 19,638,600 shares outstanding. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico. Shares trade on the TSX Venture Exchange under the symbol SOL.

On behalf of the board

Andrew Thomson, President

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

Contact Information

  • Soltoro Ltd.
    Andrew Thomson
    (416) 987-0722