Soltoro Ltd.

Soltoro Ltd.

November 23, 2007 15:16 ET

Soltoro Releases 2007 Q3 Results

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2007) - Soltoro Ltd. (TSX VENTURE:SOL) is pleased to announce the release of its results for the nine months ended September 30, 2007. The Company's interim financial statements and Management Discussion and Analysis can be found on SEDAR at All references to currency are in Canadian Dollars unless otherwise indicated.

Operational Highlights:

- Sumitomo Metal Mining Exploration Corp. optioned the La Tortuga copper-gold porphyry property whereby they may earn a 70% interest by completing US $20,000,000 in expenditures or by delivery of a bankable feasibility study. Soltoro to act as operator for the first US $4,000,000 in expenditures.

- An orientation drill program completed at El Rayo which identified a new 850 metre gold zone and justifies commencing resource drilling to expand the historical silver-lead resource.

- Drill program initiated on the Bacanora gold property in Sonora to investigate for a bulk tonnage gold deposit.

Financial Highlights:

The Company ended the period with $1,720,406 in cash and short term investments and working capital of $1,976,809 as at September 30, 2007. This compares with cash and term deposits of $2,749,924 and working capital of $2,740,338 at December 31, 2006. The change in the Company's cash position reflects a private placement of units in the proceeds which raised gross proceeds of $650,000, offset by spending on operations and exploration on the Company's mining properties. The Company's net loss for the nine months ended June 30, 2007 was $564,190 (or $0.03 per share), compared to a loss of $173,354 (or $0.02 per share) in the corresponding period in 2006.

This summary of financial highlights should be read in conjunction with the Company's unaudited consolidated financial statements for the period ended September 30, 2007 and the related Management Discussion and Analysis, both of which are available on

On behalf of the board,

Andrew Thomson, President

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