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SOLTORO LTD.: Soltoro Ltd. Advances Gold Potential at El Rayo Project

^{Published on 2009-06-22 12:30:31, Last Modified on 2009-06-22 12:31:39 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - June 22, 2009) - Soltoro Ltd. (TSX VENTURE:SOL) has extended, through a soil sampling program, the known length of the El Rayo gold zone by 240 metres for a total strike length of 1,065 metres. At the El Rayo project, two mineralized structures are being drill tested with a view to defining a gold and silver resource. The north west trending El Rayo structure is gold/silver rich while the north east trending Las Bolas structure is silver/lead rich. These two structures intersect in a V shape and have been traced over a total 5 kilometre strike length. Prior trenching carried out on a road cut on the north western extension of the El Rayo structure returned 29.6 metres of 1.87 gpt gold pursuant to which diamond drill hole 35 in the same area returned 37.5 metres of 1.78 gpt gold within 100 metres of surface. The gold detected to date occurs in oxide material with less than 1% sulphides observed. The current soil sampling program was designed to test a gold rich bend in the El Rayo structure. To view a map showing the extension zone interpretation please visit: [ http://www.soltoro.com/pdf/rayosoil2009.pdf ].

Andrew Thomson, President and Chief Executive Officer, stated: "The north west extension of the El Rayo structure trends towards the El Barqueno gold deposit held by Southern Copper Corporation. Within the El Rayo structure, Soltoro has defined a kilometer long gold zone open on strike to the north west and at depth where limited drilling to date returned 37.5 metres of 1.78 gpt gold. Soltoro is carrying out further mapping and sampling pursuant to which a drill program is planned to test the El Rayo gold zone and the Las Bolas silver target deposit calculation area."

In May of 2009, an independent target deposit calculation was prepared by GeoVector Management Inc. on a 650 metre section of the 1.7 km Las Bolas structure. The evaluation indicated a minimum target of between 4.2 and 5.6 million tonnes grading between 117 and 100 gpt silver for a potential inventory of between 16 and 18 million ounces of silver. Future drilling will be focused in and around the Las Bolas target deposit calculation area to test the continuity of the mineralization at depth and along strike in both directions, the gold potential of the El Rayo gold zone and the Highway Zone. The Highway Zone has yet to be drill tested where surface sampling returned 34 meters of 63 gpt silver in a road cut.

The reader should be cautioned that the potential quantities and grades reflected in the target deposit potential calculation are conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The recently completed soil sampling program consisted of "B" horizon soil samples taken at 10 metre spacings along eight lines oriented to cross the structure perpendicularly. Results ranged from the detection limit up to 1.89 gpt gold. Each line was sampled over an 80 to 120 metre length with further soil sampling warranted on most lines. All lines returned strong anomalies and generally corresponded to pieces of quartz float material in the soil which appears to be weathering off the original vein below the soil development. It would appear that the stockwork zone flanking the central vein is wider than outlined at present. This zone remains open to the north-west.

Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed using a 30g fire assay with AA finish. Mr. William McGuinty, P.Geo., a director of the Company and qualified person as defined by NI 43-101 has reviewed the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Chris Lloyd, M.Sc., Vice President, Exploration.

Soltoro is a junior exploration company active in Mexico. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico. The Company is conducting a resource definition drill program on its El Rayo silver-gold-lead project, has a significant joint-venture partner working on its Quila project where drilling is planned in 2009 and is advancing its Chinipas and El Santuario gold projects. Soltoro has 20,215,000 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.

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