Soltoro Ltd.

Soltoro Ltd.

May 04, 2007 12:15 ET

Soltoro Proving Up Silver Resource on El Rayo Project in Mexico

TORONTO, ONTARIO--(CCNMatthews - May 4, 2007) - Soltoro Ltd. (TSX VENTURE:SOL) has completed 890 metres of the 2nd phase of diamond drilling on its El Rayo Silver-Gold-Lead project in Jalisco, Mexico. A total of 2,352 metres of the planned 4,000 metre program has been drilled. This phase is designed to confirm historic metal values obtained by previous property holders in the historic, non 43-101 compliant, 7 million ounce silver resource area and to test for the presence of a bulk mineable silver deposit. Every drill hole along 600 metres of the Las Bolas structure tested returned economic silver values over substantial widths with assay results from two holes at Matachines pending. This represents only a portion of the 3.2 kilometres of structure identified to date within the known resource area. Drilling of the El Rayo main mineralized structure is underway. Assay results have been returned as follows:

Bolas Structure Drill Hole: From To Metres Ag gpt
Bolas Mine Ray-07-07 38.70 62.20 23.5 85.62
including 38.70 51.00 12.3 116.5
Bolas Mine Ray-07-08 49.95 60.65 10.7 74.9
Including 56.25 59.10 2.85 105.1
Bolas Mine Ray-07-09 38.05 50.05 12 117.3
including 41.25 48.95 7.7 137.0
Bolas Mine Ray-07-10 50.00 61.45 11.45 62.6
Including 50.00 56.95 6.95 73.6
250m SW of Ray-07-11 49.05 84.15 35.1 91.6
Bolas Mine including 60.50 72.20 11.7 134.2
Including 63.30 67.30 4 155.9
250m SW of Ray-07-12 58.45 87.25 28.8 106.5
Bolas Mine including 71.30 76.95 5.65 191.4
100m NE of Ray-07-13 34.45 56.20 21.75 58.9
Matachines Mines including 35.90 43.60 7.7 87.1

The Matachines and Las Bolas mines occur within the north-east trending structure of the known resource area and are less developed than the Catarina and El Rayo mines along the El Rayo structure. Drilling of geophysical airborne anomalies to test high priority airborne geophysical targets will follow. The most significant of these covers a 1.5 km by 0.5 km area and is located adjacent to the main El Rayo mineralized structure. Historic mining of the veins was limited to four metre widths whereas Soltoro has obtained economic widths in core intervals of up to 35 metres. These results serve to confirm that the El Rayo project has the potential to host a sizeable bulk mineable silver deposit in the main resource area.

The 7 million ounce silver resource of 1,346,072 tonnes at 169 gpt silver was defined by the Consejo Recursos Minerales, a Mexican government geological agency in a report dating from 1992. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Soltoro is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. Drilling has been slow due to difficult ground conditions and drilling delays. Core recovery has been impacted by poor ground conditions and further drilling, with a view to better recovery, is warranted. The Company continues to conduct further regional exploration including mapping and sampling of the north-west gold zone along the El Rayo structure. Assays from this work are pending.

Quality Control: Drilling on the El Rayo property is supervised by Vice-President of Exploration in Mexico, Chris Lloyd, M.Sc. and Mr. William McGuinty, P.Geo. Mr. William McGuinty is the Company's qualified person as defined by National Instrument 43-101 and has reviewed the contents of this press release. Core lengths throughout this press release are measured along the core axis and do not necessarily represent true widths.

Soltoro utilizes a control and analytical quality assurance protocol on its exploration programs. This procedure includes the systematic addition of blank samples, duplicates and certified standards to every twentieth sample. Blank samples are used to check for possible contamination in laboratories while certified standards determine the analytical accuracy and precision. Analyzed samples coming from half cut HQ cores and with lengths varying from 0.3 to 1.5 meters are sent for analysis to ALS Chemex in Guadalajara, Mexico. Samples are assayed for Au by 30 g fire assay followed by atomic absorption finish according to industry standards followed by 34 element four acid "near total" digestion with an ME-ICP finish.

Soltoro is a junior exploration company active in Mexico with 19,263,600 shares outstanding. The Company is exploring for gold, silver and copper deposits in Mexico with a management team that has been active in Mexico since 1993. 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