Soltoro Ltd.

Soltoro Ltd.

September 24, 2010 09:17 ET

Soltoro Step-Out Drilling Returns 259.7 Metres of 49.8 gpt Silver Including 87.5 Metres of 72 gpt Silver at the El Rayo Primary Silver Project in Mexico

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2010) - Soltoro Ltd. (TSX VENTURE:SOL) announces that step-out drilling designed to expand the Las Bolas primary silver deposit, part of the company's 100% owned El Rayo Project in Jalisco State, Mexico has doubled the depth, doubled the width and extended the known silver oxide zone down to a 250 metre depth from surface.

Recent step out drilling highlights include diamond drill holes DDH46 which returned 259.7 metres grading 49.8 grams per tonne (gpt) silver including 87.5 metres of 72 gpt silver; DDH41 which returned 172.5 metres grading 46 gpt silver including 33 metres of 80 gpt silver. Reverse circulation drill hole RC117 which returned 72 metres of 95 gpt silver including 30 metres of 172 gpt silver and RC118 which returned 58.5 metres of 73 gpt silver including 15 metres of 125 gpt silver.

Andrew Thomson, President and C.E.O., stated: "Results from all ten step-out drill holes from the Las Bolas deposit have now been received and confirm the potential for a primary silver bulk tonnage deposit. Eight of the ten holes have encountered significant intercepts, while the deposit remains open along strike and at depth in the zone where recent holes returned 259.7, 172.5 and 127.5 metre mineralized intercepts. Additional mineral resources determined from the step-out drill program, results from a metallurgical study being undertaken by Kappes Cassiday & Associates and material from the Highway Zone will be incorporated in a new resource estimate which is expected to substantially increase the existing tonnage and total ounces of the deposit."

The NI 43-101 resource report completed by Hrayr Agnerian, M.Sc. (Applied) P.Geo. and John Reddick, M.Sc., P. Geo. and released in May of 2010 detailed the following indicated and inferred mineral resources:

Las Bolas Deposit Resources-May 2010

Cut-off grade
silver g/t
Tonnes Grade in
silver g/t
ounces of
Indicated Mineral Resources
Las Bolas 40.0 9,470,000 69.4 21,100,000
Inferred Mineral Resources
Las Bolas 40.0 1,800,000 67.4 4,000,000
Matachines 40.0 400,000 65.0 850,000

A revised resource estimate is being prepared which will include: 1) tonnage calculations comprising the original resource area and all step out drill holes at the Las Bolas deposit; 2) metallurgical work designed to assess silver recoveries with a view to improving the cut-off grade of the deposit and; 3) upgrading the target deposit calculation for the Highway Zone to the resource category.

The Company is considering completing an internally authored revised resource followed by a third party NI 43-101 compliant report.

The ten hole step-out drill program consisted of two reverse circulation drill holes and eight diamond drill holes. Results from eight of the step-out holes are as follows:

Section Drill Structure From: To: Interval: Silver:
Line: Hole:       (metres) (gpt)
S1 DDH41 Las Bolas 3.0 175.5 172.5 46
  including   138.0 171.0 33.0 80
S2 DDH42 Las Bolas 133.5 261.0 127.5 41
  including   215.5 258.0 42.5 70
  including   227.0 258.0 31.0 83
S4 DDH46 Las Bolas 20.0 279.7 259.7 50
  including   20.0 107.5 87.5 72
  including   140.5 156.0 15.5 57
  including   190.5 279.7 89.2 56
S6 DDH45 Las Bolas 91.5 158.5 67 32
  including   91.5 116.0 24.5 39
  including   124.3 158.5 34.2 31
S8 DDH44 Las Bolas 161.0 240.0 79 44
  including   161.0 198.6 37.6 30
      207.8 240.0 32.2 67
S12 RC118 Las Bolas 202.5 261.0 58.5 73
  including   235.5 250.5 15.0 125
S14 RC117 Las Bolas 181.5 253.5 72.0 95
  including   205.5 235.5 30.0 172
S16 DDH48 Las Bolas 170.5 221.0 50.5 47
  including   170.5 181.0 10.5 122
All intervals are reported in core lengths.
Drill holes DDH43 and DDH47 did not return significant values.

Cross sections for all holes announced above may be viewed on the Company's website at:

Results are still pending from a single diamond drill hole (DDH49) which tested the Highway Zone now interpreted to be a fault off-set of the Las Bolas deposit. The Las Bolas deposit, Highway Zone and Catarina mine area (from which results were announced on July 27, 2010/NR75) together indicate the potential for extensive zones of oxide silver mineralization extending to depths of over a 250 metres and a mineralized strike length of approximately 3.0 kilometres. This mineralization is of great significance because it is all hosted within a totally oxidized epithermal vein system. The existence of oxidation to depths exceeding 250 metres indicates a very substantial mineralized system as this is far deeper than typical weathering or oxidation seen elsewhere in south-western Mexico.

Mr Terence J. Bottrill, P.Eng., a consultant, member of the advisory board of the Company and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release.

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company continues to develop its El Rayo silver-gold project to expand the existing NI 43-101 compliant silver resource. Soltoro has also recently completed a mapping and sampling program at its Peña Grande project; and is actively advancing its Victoria, Quila, Tortuga, Chinipas and El Santuario projects. Soltoro has 35,047,850 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.

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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