July 21, 2011 09:09 ET

Soltoro Intercepts 65.6 Metres of 120 gpt Silver at the El Rayo Project

TORONTO, ONTARIO--(Marketwire - July 21, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) has received results for an additional six 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, the Soledad structure, which contains high-grade ore shoots, has been outlined by 15 drill holes 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. Select drill results were returned as follows:

Structure Section
Soledad 565975 Ray11-71 48.5 114.1 65.6 120
including 60.5 62.9 2.4 563
including 81.5 86.0 4.5 213
including 111.2 113.0 1.8 328
Soledad 565925 Ray11-72 50.6 79.5 28.9 67
including 54.0 69.0 15.0 96
Soledad 565875 Ray11-75 68.0 93.0 25.0 124
99.0 102.4 3.4 60
112.5 117.5 5.0 247
1 Drill hole Ray11-73 was released previously in NR99. Holes Ray11-74, Ray11-76, Ray11-77 did not intersect significant mineralisation.
2 All intersections are reported as drilled thickness. True widths are not known at this time.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "At Soledad, previously released drill results have been limited to single holes on each section with select high-grade silver intersections returning 30 to 65 metre widths averaging between 100 to 300 g/t silver. Step-out drilling is underway to establish the third dimension to define a resource at Soledad. The current drill program is designed to test high-grade silver ore shoots at Soledad which were not included in the 58.3 M ounce silver resource defined at Las Bolas and the Highway Zone."

Holes Ray11-71, Ray11-72 and Ray11-75 are located between the high-grade intersection in Ray11-69 (NR99 - 53.7 m averaging 115 g/t Ag) to the west and Ray11-62 (NR96 - 7.1 m averaging 122 g/t Ag) to the east. These intersections confirm the robust nature of the mineralization in this, the first mineralized shoot identified along the Soledad structure. As currently interpreted, this mineralized shoot extends continuously over 225 metres along strike to the east of the initial discovery in Ray11-60 (NR96 - 7.0 m averaging 1,101 g/t Ag uncut & 6.9 metres averaging 527 g/t Ag) and plunges to the northeast. The first drill is conducting step-out drilling to test this ore shoot at depth with more drilling planned to test to the east of Ray 11-62.

Hole Ray11-74 was drilled 50 metres west of Ray11-60 and establishes the western limit of the first mineralized shoot. A poorly mineralized section of the Soledad structure lies between the first mineralized ore shoot and the next shoot 200 m to the west in Ray11-73 (NR99 - 33.5 m averaging 198 g/t Ag). The second drill is testing the extent of this second ore shoot along strike.

Hole Ray11-76 was drilled 275 metres southwest of the Matachines Mine to test the southern end of the Las Bolas structure and penetrated a substantial fault zone sub-parallel to the drill hole. No mineralization was intersected in this hole. Hole Ray11-77 was drilled parallel to the dip in the footwall of the Soledad structure. This hole was drilled purely for structural purposes and no mineralization was expected or encountered. Hole Ray11-77 confirmed the northward dip of the Soledad structure.

A drill hole location map and sections of the newly drilled holes from the Soledad structure may be viewed at:

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 54,719,482 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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