South Baird Property, Red Lake

Solitaire is continuing the development of its' South Baird Property in the Red Lake Mining District. In November 2003, Solitaire entered into an option agreement with United Bolero Development Corp. (Bolero), a public company listed on the TSX.V - UNB, to share the costs associated with the exploration and development of the South Baird. In November 2003, Solitaire provided Bolero with the option to earn up to a 50% interest in the property by satisfying all conditions of the option agreement. Line cutting commenced in late December, 2003 and concluded in early February 2004. A detailed ground program, commencing with a ground-based gravity survey to be completed by Allan Spector & Associates of Toronto, Ontario, will commence shortly. Upon completion of the Gravity Survey, it is anticipated that additional surface work will be performed with the aim of identifying specific drill targets.

Exploration & Development Plans

Several targets will be explored on the South Baird, one of them being the area of claim 1244608, immediately south of the Claude Resources/Placer Dome joint venture property. This is an area where Claude Resources and Placer Dome have been carrying on drilling in 2003. Claude Resources and Placer Dome's drilling initiatives have been concentrated on several areas of the Claude Resources property, including an area west and southwest of the past-producing Starratt-Olsen mine. The Starratt-Olsen mine is situated less than 1 kilometer northeast of Solitaire's South Baird property boundary. Results from the Placer Dome, Claude Resources drilling will be posted on the Claude Resources website, and/or Sedar.

Related information

→ 43-101 Technical Report
→ United Bolero