Solvista Gold Corporation
TSX VENTURE : SVV

Solvista Gold Corporation

November 25, 2011 16:05 ET

Solvista Gold Provides an Operational Update on Exploration at Its Guadalupe Project and Announces New High Grade Discovery

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2011) - Solvista Gold Corporation ("Solvista" or the "Company") (TSX VENTURE:SVV) is pleased to provide an update on its "Phase I Exploration Program" at its Guadalupe project near Medellín, Department of Antioquia, Colombia.

Further to the Company's previous press release dated July 28, 2011, Solvista has continued to aggressively explore the southern portion of its Guadalupe project and is pleased to announce the identification of two new mineralized areas in the El Oso Sector, including a high grade discovery with values up to 10.9g/t Au, 851g/t Ag and 8.6% Sb over 0.5m. The Company is currently preparing to commence a drill program within the next two month to test these new targets, as well as those previously announced.

Work Completed to-date

Exploration efforts in the period have focused on four principal exploration methodologies:

Soil sampling: In total 1,718 soil samples were taken across the Cascajeros / San Gregorio and La Divisa sectors defining four anomalous zones.

Mapping and Rock sampling: In addition to commencing detailed geologic mapping across the target area, the Company has taken a total of 447 rock and float samples.

Stream Sediments: The Company has completed its regional stream sediment survey (133 samples) of the northern portion of the Guadalupe project underlain by the San Pablo Formation and is commencing a follow up program to explore the anomalous areas.

Geophyscis: A total of 40 km of ground IP surveys have been completed across the area to-date in a series of mostly NW-SE trending lines spaced every 100m, over five separate target areas.

Results and Interpretations

In addition to previously announced discoveries in the Cascajeros and La Divisa sectors, the Company has now confirmed the presence of two different mineralization styles in the El Oso sector within the Antioquia Batholith. A new high grade, structurally controlled, discovery with results up to 10.9g/t Au, 851g/t Ag and 8.6% Sb over 0.5m, located to the southeast, represents a new target in the El Oso sector, although it is believed to be related to the same mineralizing event that resulted in the nearby stockwork mineralization discussed in the Company's July 28, 2011 press release. In addition the Company has identified a new zone of stockwork mineralization to the northwest of the new high grade discovery in a similar geological setting. Results from this new area have included channel samples of outcrops of up to 6m with up to 2.304g/t Au as well 16.32g/t Au over 1m and 4.226g/t Au over 2m in separate outcrops. A total of 37 rock samples in the target area have returned over 1g/t Au, up to a maximum of 27.39 g/t Au over 0.3m.

Figure 1 (below) is a compilation map of work completed to-date in the southern portion of the Guadalupe project, showing rock samples above 1g/t Au, areas of soil anomalies, geophysical interpretation and proposed drill holes, underlain by the chargeability model at 130m depth. This map highlights the two newly discovered areas in the El Oso Sector, confirming the geochemical results. In addition to confirming the majority of the geochemical anomalies, the ground IP survey has also defined new target areas. Additional exploration efforts are being prioritized in these areas to determine their full potential, with the aim of defining additional drill targets.

Work Plan for Guadalupe Project

Based on the new findings and interpretations above, the Company has designed a proposed 2,000m short hole (max. 150m) drill program to test the geochemical and geophysical anomalies and also to improve the Company's understanding of the complex geology in an area of deep weathering and extremely limited outcrop. The program will test both the stockwork and structurally controlled mineralization and will commence in the El Oso sector. The Company hopes to be in a position to release drill results from this program within the first quarter of 2012.

Quality Assurance

The Company utilizes an industry-standard Quality Assurance/Quality Control program. Rock and stream sediment samples are prepared at a preparation facility in Medellín run by SGS Colombia. Samples are then shipped for analysis to the SGS certified assay laboratory in Lima, Peru. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and a portion of the samples are periodically check assayed at ACME Laboratories in Vancouver, British Columbia.

Technical Information

The results of the Company's exploration programs have been reviewed, verified and compiled by Solvista's President and Chief Executive Officer, EurGeol Miller O'Prey, P.Geo., a "qualified person" as defined under National Instrument 43-101.

About the Guadalupe Project

The Guadalupe project is located along the northern contact of the Antioquia Batholith, one of the historically most significant gold districts in Colombia, with production dating back to pre- Colonial times. It has also been the focus of intense exploration over the past five years with a number of exciting new discoveries including Gramalote (AngloGold Ashanti/B2Gold joint venture); an intrusion related gold deposit with a 43-101 compliant resource of 2.39mm oz Au at 1.00g/t Au. South of Guadalupe is Antioquia Gold's Cisneros project and to the west is Red Eagle Mining's Santa Rosa project, both of which are the subject on ongoing drill programs at this time.

To view the "Proposed Drill Targets" map, please visit the following link: http://media3.marketwire.com/docs/svv_figure1_1125.pdf

About Solvista

Solvista, a TSX-V listed company (TSX VENTURE:SVV) is an early-stage exploration company with two gold projects, Caramanta and Guadalupe, covering a total area of approximately 65,000 hectares in the Antioquia province of Colombia. Solvista is well funded and led by a management team with over 45 years of exploration and mining experience, principally in South and Central America. Solvista's head office is located in Toronto with its Colombian headquarters located in Medellín. For further details on Solvista, its management team and its projects, please refer to Solvista's website (www.solvistagold.com). Solvista's Canadian regulatory filings can be found on SEDAR at www.sedar.com.

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista's objectives, goals or future plans, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista's public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information