Soltoro Ltd.

Soltoro Ltd.

November 07, 2006 10:17 ET

Soltoro to Begin Diamond Drill Program on El Rayo Silver Property in Mexico

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Soltoro Ltd (TSX VENTURE:SOL) announces a diamond drill program is scheduled to commence in November on its 100% owned El Rayo silver project. Environmental permitting has been accepted by the federal agency, surface rights agreements have been secured with drill pad and access road construction substantially completed. Intercore Drilling of Guadalajara has been contracted to carry out the 3,100 metre program.

Soltoro has adopted a two pronged strategy; 1) drill test near mine targets adjacent and below ore shoots to confirm historic drill values and test for mineralization at depth. In 1982, the Consejo Recursos Minerales (a Mexican government agency) outlined a 7 million ounce silver resource (non 43-101 compliant) at El Rayo and; 2) regional drilling to test below the El Ocote mine and along its extensions. The El Ocote zone has never been drilled.

The El Rayo property was part of the Federal Mine Reserve in Jalisco state, Mexico until the area was released in 1993 with denationalization of the Mexican mining industry. Significant silver mining last took place in the area in the early 1900's. Soltoro is investigating the property for a bulk tonnage silver deposit with gold and lead credits.

Near mine bulk tonnage potential: Two main structures have been mined for silver, the NW-SE Rayo-Catarina mines and the SW-NE Aguacero-Bolas-Matachines mines. Recent mapping on the hill above the historic Catarina mine workings located wide zones of stockwork fracturing and silicification in the hanging wall of the main Rayo-Catarina structure as well as sub-parallel quartz veins in the footwall area. Two preliminary chip samples in the stockwork zone returned values of 93 and 54 ppm silver respectively over 1m and follow-up sampling is planned. On the NE trending structure, a zone of stockwork quartz veining has been exposed along a road cut for 36 metres. This Highway zone is likely a fault off-set of the Aguacero-Bolas-Matachines structure where it intersects a rhyolite dike / dome complex. Mapping of the Aguacero portion of the NE structure has defined a 30 metre wide structure with strong stockwork veining located between the two bounding fault structures. Soltoro believes these zones exhibit bulk tonnage targets with open pit potential. Assay results from samples taken in these areas are pending. Field work is ongoing.

Expansion of the El Ocote zone: Recent mapping has been successful in significantly expanding the El Ocote zone. Two main branches have been identified to date, the Nueva Suerte southern branch extending approximately 5km and the El Ocote northern branch extending a further 3km. The two branches intersect at the western end of the main Ocote trend where a zone of disseminated Cu mineralization has also been noted. Veins average 2m in width with numerous sections ranging to over 5m. Trenching has been completed along the main extent of both branches with results pending.

Soltoro is well financed with $2.3 M in cash. Further information about Soltoro properties may be obtained from its website at

Qualified Person

Mr. William McGuinty, P.Geo, is the Company's qualified person as defined by National Instrument 43-101 and has reviewed the contents of this press release.


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.

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