SOLTORO LTD.
TSX VENTURE : SOL

SOLTORO LTD.

August 16, 2011 09:05 ET

Soltoro Intercepts 62 metres of 182 gpt Silver in Soledad Step Out Hole at El Rayo Project

TORONTO, ONTARIO--(Marketwire - Aug. 16, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) has received results for an additional eight diamond drill holes at the El Rayo primary silver deposit in Jalisco, Mexico. The east-west-trending Soledad structure represents a new and significant mineralised zone unknown at the time of the recently released NI 43-101 measured and indicated resource of 58.3M ounces of contained silver (NR98-June 14, 2011). To date two high-grade ore shoots have been identified over a strike length of 500 metres. Currently two diamond drills are testing the extent of the mineralization at Soledad, which remains open along strike in both directions as well as at depth. Step out drill holes Ray11-79 and Ray11-81 have extended the depth of the central high grade silver ore shoot defined on the Soledad structure while drill hole Ray 11-85 has begun to define the strike length of the second ore shoot at the west end of Soledad. Select drill results were returned as follows:

Structure Section
Line
Drill
Hole1
From
(m)
To
(m)
Width2
(m)
Ag
(g/t)
Soledad 565850 Ray11-793 133.0 176.4 43.4 173
including 136.0 143.5 7.5 234
including 159.0 174.0 15.0 273
Soledad 565900 Ray11-80 65.4 122.9 58.5 59
including 102.3 122.9 20.6 86
including 103.5 109.5 6.0 190
Soledad 565900 Ray11-81 123.6 185.6 62.0 182
including 140.0 185.6 45.6 237
including 144.6 167.0 22.4 324
including 144.6 156.0 11.4 419
including 144.6 146.0 1.4 1,070
including 171.0 172.0 1.0 1,020
Soledad 565975 Ray11-82 32.8 61.0 28.2 65
including 47.0 58.0 11.0 100
Soledad 566075 Ray11-83 76.7 78.0 1.3 34
94.0 94.5 0.5 491
Soledad 565575 Ray11-85 44.0 65.6 21.6 130
including 53.5 59.5 6.0 273
1 Holes Ray11-78 and Ray11-84 did not intersect significant mineralisation.
2 All intersections are reported as drilled thickness. True widths are not known at this time.
3 Includes a 3.0 m interval from 156.0 m to 159.0 m down hole depth that was included at 0 g/t Ag due to poor core recovery.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Step out drill holes Ray11-79 and Ray11-81 have established that the central high grade silver ore shoot defined at Soledad plunges to the northeast. The grade and width of the mineralization appears to have good continuity and remains open at depth 150 metres from surface. Near surface drilling to date on the central high grade silver ore shoot has returned an average length of 49 metres of 140 gpt silver indicating the potential for open pit mining. Drill hole Ray11-85 confirms the presence of a second high grade silver ore shoot to the west where drilling along strike and at depth is underway to define its extent."

Holes Ray11-79 through Ray11-84 were drilled to test the central ore shoot identified along the Soledad structure. Holes Ray11-80 and Ray11-82 are infill holes and demonstrate the continuity of mineralization along strike. Holes Ray11-79 and Ray11-81 were drilled down-dip from holes Ray11-69 and Ray-80 respectively and confirm that the robust nature of the mineralization continues at depth. Mineralization has now been confirmed to a depth of 150 metres from surface. Hole Ray11-84 was abandoned in a fault zone and did not reach the mineralized structure.

As currently interpreted, the central mineralized shoot extends continuously over 225 metres along strike to the east of the initial discovery in Ray11-60 (NR96 - 7.0 metres averaging 1,101 g/t Ag uncut & 6.9 metres averaging 527 g/t Ag) and plunges to the northeast. Hole Ray11-83 was drilled 50 metres east of hole Ray11-62 and is the eastern most hole drilled to date along the Soledad structure. This hole confirms that the structure continues to be mineralized to the east. Hole Ray11-78 was drilled 150 metres west of Ray11-60 into the poorly mineralized section of the Soledad structure that lies between the central mineralized ore shoot and the next shoot 200 metres to the west in Ray11-73 (NR99 - 33.5 m averaging 198 g/t Ag).

Hole Ray11-85 was drilled into the second high-grade mineralized shoot 25 metres east of hole Ray11-73. This hole confirms the presence of the western shoot as well as the robust nature of the mineralization. Drilling continues with one drill further defining the second silver ore shoot at the west end of the Soledad structure while the other tests the continuity of mineralization at depth in the central shoot.

A drill hole location map and sections of the newly drilled holes from the Soledad structure may be viewed at: http://www.soltoro.com/projects/pdf/DHAugust16Soledad.pdf.

On June 14, 2011, Soltoro released an in-pit mineral resource estimate for the Las Bolas and Highway Zone mineral deposits at its 100% owned El Rayo silver-gold project in Jalisco, Mexico (NR98-June 14, 2011). At the cut-off grade of 20 g/t Ag the Measured and Indicated Mineral Resources are 33,600,000 tonnes at an average grade of 54 g/t Ag containing approximately 58.3 million ounces of silver, and 200,000 tonnes of Inferred Mineral Resources at an average grade of 44.3 g/t silver, containing approximately 300,000 ounces of silver. The mineral resource estimate was prepared by Hrayr Agnerian, M.Sc. (Applied), P.Geo., Associate Principal Consulting Geologist with Roscoe Postle Associates Inc. and is compliant with National Instrument (NI) 43-101. Mr Agnerian is the Qualified Person for the purposes of National Instrument 43- 101.

Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed
using a 30g fire assay with AA finish while the silver is analyzed using a four acid "near total" digestion package. Mr. Steven T. Priesmeyer, C.P.G., Vice President of Exploration for Soltoro Ltd. 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. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.

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 55,126,537 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.

Contact Information