Soltoro Ltd.

Soltoro Ltd.

October 15, 2009 10:04 ET

Soltoro Ltd. Drills Deep Hole in Silver Zone and is Set to Drill Gold Zone at El Rayo

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) - Soltoro Ltd. (TSX VENTURE:SOL) has commenced a reverse circulation drill program at its El Rayo Silver-Gold-Lead Project in Mexico. In 2008, resource drilling along the north-east trending Las Bolas structure returned an average thickness of 13 metres of 119 gpt silver in 40 drill holes. To date a 650 metre section of the this structure has been tested to a 100 metre depth which returned an independent target deposit calculation of between 4.2 to 5.6 million tonnes for a potential 16 to 18 million ounces silver grading between 100 to 117 gpt silver using a cut off between 40 to 60 gpt silver (GeoVector/2009). Currently two follow-up deeper drill holes are underway (200 metre depth) to test for a transition oxide\sulphide zone and determine if the mineralized structure continues to expand at depth. Results from these two holes will be compiled and interpreted before resuming drilling designed to increase the size of the silver deposit and establish a NI 43-101 silver resource. While awaiting these results, the drill will be moved to test a gold flexure recently identified within the oxide gold zone along the nearby north-west trending El Rayo structure.

Andrew Thomson, President and Chief Executive Officer, stated: "The Company has elected to drill the El Rayo structure oxide gold zone while awaiting initial results from deep drilling within the Las Bolas oxide silver zone. Soltoro has defined a 1,065 metre long gold zone where prior orientation drilling north-west of the historic El Rayo mine returned 37.5 metres of 1.78 gpt gold. Surface sampling north-west along strike lead to the discovery of a 300 metre long gold flexure which has never been drill tested. Drilling is designed to test this flexure and the El Rayo structure at depth to establish an initial gold resource."

Over 5 km of mineralized strike has been defined within the Las Bolas and El Rayo V shaped structures. Three separate zones are being tested as part of the 5,300 metre drill program:

  1. Las Bolas Silver Zone: Drilling to define a NI 43-101 compliant silver resource within the Las Bolas structure where prior drilling returned 90 metre of 150 gpt silver. Drilling carried out to date has intercepted silver oxide material to a 100 metre depth. Two deep holes are currently being completed to test mineralization up to a 200 metre depth. A further 23 holes are planned in this zone after receipt of results from the first two deep holes
  1. El Rayo Gold Zone: Drilling to test the gold flexure within the El Rayo structure occurring at the north-west end of a 1,065 metre long gold zone. Drilling south of the flexure returned 37.5 metres of 1.78 gpt gold in oxide material. Initial cyanide bottle roll testing of the oxide gold material in this zone returned a 93.8% recovery after 48 hours.
  1. Highway Silver Zone: Drilling to test the Highway Zone which occurs at the juncture of the El Rayo and Las Bolas mineralized structures. Previous trenching along a road cut in the Highway Zone returned 34 metres of 65 gpt silver. A 400 metre long mineralized strike length has been defined in this zone to date.

GeoVector of Nepean, Ontario conducted the independent assessment of the deposit and provided the target deposit calculation for the Las Bolas area. The reader should be cautioned that the potential quantities and grades reflected in the target deposit potential calculation are 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.(see May 15, 2009 / NR51).

Soltoro Ltd. has contracted Agnerian Consulting Ltd. to provide a NI 43-101 Mineral Resource Report on the Las Bolas silver deposit once final results from this drill campaign have been received. Hrayr Agnerian, M.Sc. (Applied), P.Geo. is the President of Agnerian Consulting Ltd., and has worked as an Independent Geological Consultant since 1987.

Soltoro is a junior exploration company exploring for bulk tonnage gold, silver and copper deposits in Mexico. The Company is conducting a resource definition drill program on its El Rayo silver-gold-lead project; has a significant joint-venture partner working on its Quila project where drilling is planned in 2009; and is advancing its Chinipas and El Santuario gold projects. Soltoro has 27,228,650 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.

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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