News Release
Solitaire Minerals Corp. Amends the "C and D Blocks" Agreement
April 15, 2009: Solitaire Minerals Corp. (TSX-V symbol: SLT) (The Company) would like to announce that it has amended the "C and D Blocks" option agreement, subject to TSX Venture Exchange approval.
The new terms of the agreement for Solitaire Minerals Corp.(Optionee) to acquire 100% interest in the "C and D Blocks" from Raytec Metals Corp.(Optionor) are as follows:
- The Optionee shall issue to the Optionor 500,000 common shares upon approval of this amendment by the TSX Venture Exchange.
- The Optionee shall issue to the Optionor 500,000 common shares on or before the 6th month anniversary date of this agreement.
In total, Raytec Metals Corp. will receive 1,000,000 common shares in Solitaire Minerals Corp. for the Company to gain a 100% interest in the C and D Blocks. All other payment agreements and previous work commitments to the Optionor in the original agreement have been recinded.
The "D Blocks" of three claims totalling 9,310 hectares and the "C Blocks" of seven claims totalling 3,886 hectares which are located within the eastern rim of the Athabasca basin. The geophysical exploration program announced January 14, 2008 was specifically focused on the "D Blocks" of claims and the "C 2 Block". As a result of this analysis new drill targets have been identified.
The Company is currently discussing possible joint venture opportunities for the "C and D Blocks".
About Solitaire Minerals Corp. Solitaire Minerals Corp. ("Solitaire") (TSX-V symbol: SLT). Solitaire is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, and the North West Territories. Solitaire's Red Lake, Ontario properties include the Baird and Chukuni projects, in which the Company has earned 100% interest. In addition, the Solitaire has entered into an option agreement with Rubicon Minerals Corp. (TSX-V symbol: RMX), whereby the Solitaire may earn up to a 55% interest in Red Lake North property. Also in Ontario, Solitaire has an option to earn 100% in the Lateral Lake property. In Saskatchewan, the Company has acquired a 90% interest in the Riou Lake Property (Central), and a 100% interest in Riou Lake North and South located in the Athabasca Basin. In the North West Territories, the Company has purchased the Mystery Island IOCG Property, and the Eldorado Property located in the Great Bear Lake area in which the Company has 100% interest.
For additional information please contact Solitaire Minerals Corp. or visit www.solitaireminerals.com.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
"Charles Desjardins"
Charles Desjardins,
President and Director
"Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release."
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
