Lateral Lake Copper/Moly Property

On June 29, 2005, Solitaire Minerals Corp. announced the signing of an option agreement to earn a 100% interest in 8 mining claims in Webb Township, approximately 30 kms northeast of Dryden, Ontario.

The claims, referred to as the "Lateral Lake West" group, encompass a total of 82 mining units covering a southwest to northeast area of ground thought to contain the extension of the Lateral Lake Fault. Historic work on the property has shown the presence of Molybdenum and Copper within a biotite-quartz gneiss or pegmatitic dykes. Recorded grab samples (as filed with the Ontario Ministry of Mining) shows trace values of 4% Mo, with assays of 0.12% Cu and 0.028% Mo. The mineralization has been traced at surface over a 1.3km strike length.

Approximately 3 km's to the east of the property boundary, lies the Lateral Lake showings, which have had extensive work carried out over the years. Historical results in this area include resource estimates of 416,000 tons grading 0.57% Mo (from 1965-1966 drilling - Hall, 1965, MDF), derived from drilling the eastern area of the Lateral Lake fault, within granitic gneiss, with aplitic bands containing Py-Mo flakes and pegmatitic bands with Mo Stringers and disseminated Molybdenum. (The resource estimate pertaining to the adjoining property is from Ontario Ministry of Mining data files, gathered before implementation of NI43-101, and while it is believed to be accurate, the historical estimates should not be relied upon).