October 03, 2011 09:00 ET

Soltoro Retains Hazen Research, Inc. and A Metallurgical Consultant to Conduct Further Metallurgical Testing at El Rayo

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2011) - Soltoro Ltd. (TSX VENTURE:SOL) recently shipped 116 kilograms of material to Hazen Research, Inc. ("Hazen") to conduct additional mineralogical and metallurgical testing on core samples from the El Rayo primary silver project in Jalisco, Mexico. Soltoro has also retained the services of Dr. Ashok Dalvi, P. Eng to oversee the work being performed by Hazen with a focus on process development and strategic planning.

Until recently Dr. Ashok served as Director of Process Engineering and Strategic Studies at Vale Inco. His most recent project included hydrometallurgical process plant development for the Voisey's Bay project of Vale Inco and expansion of P.T. Inco's laterite operation in Indonesia. Soltoro will continue to avail itself of the services of Kappes Cassiday & Associates in conjunction with seeking guidance from Coeur D'Alenes Mines Corp. with respect to ongoing mineralogical and metallurgical studies. Coeur D'Alenes recently purchased 4.5 million shares of Soltoro. Soltoro currently has in excess of $8M in cash and equity.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Dr. Dalvi has worked with Hazen on other process development projects and has a long standing knowledge of Hazen's research and development services. Hazen have a 50 year track record of success in metallurgical process development. Hazen will conduct metallurgical testing on core from the newly discovered high grade silver Soledad structure which will be included in an updated resource study which is currently underway. Hazen will also undertake further testing of material from the bulk tonnage silver Las Bolas deposit to determine the optimal development process for this style of mineralization."

Hazen Research, Inc. is an employee-owned industrial research and development firm located in Golden, Colorado. Hazen presently has 110 employees with 15 buildings containing an extensive inventory of laboratory and pilot plant equipment. Hazen have been involved in over 10,000 projects for industrial clients and can provide the preliminary layout and cost estimations for mineral-treatment facilities. Hazen has developed hundreds of hydrometallurgical, pyrometallurgical, and mineral beneficiation processes.

In addition to the Metallurgical Process Development Study signed with Hazen, Soltoro has signed a consulting arrangement with Dr. Dalvi which includes the issuance of 100,000 share options to Dr. Dalvi. These options were issued on October 3, 2011 at an exercise price of $0.75, expire in three years and are subject to regulatory approval and vesting under the Company's stock option plan.

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 was recently completed at the Chinipas gold project in the State of Chihuahua. 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 56,666,537 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur D'Alenes Mines Corp. holds 4.5 million shares of Soltoro Ltd.

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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