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April 13, 2010: Solitaire Minerals Corp. (TSX-V symbol: SLT) (Solitaire) announces that it has entered into an option agreement whereby it can acquire a 100% interest in 3 claims located to the west of Imperial Metals Corporation's (TSX symbol: III) Red Chris deposit. The latest claim block comprises total approximately 3,200 acres and is called the Summit West property.
The new claims cover an area worked in 1989-91 by Keewatin Engineering (BC Assessment Report 21,128). The claims were identified as having a potential for hosting porphyry copper-gold mineralization and/or precious metal veins which commonly occur peripherally to porphyry deposits. Historical work consisted of geochemical, geophysical surveying, and drilling of three diamond drill holes. The geochemical surveying identified an anomaly measuring 1,300 by 400 metres with a threshold of 150ppm Copper (Cu). The Geological Survey of Canada (GSC), represented by Souther in 1971, identified similar geological features at Summit West to those found at the Red Chris deposit.
DDH-90-B10 collard within the anomaly, intersected a 9.0 metre interval (from 12.0 to 21.0 m) of fractured and clay-altered greywacke returning 2.01g/t gold (Au) and 640ppm copper (Cu). This hole was stopped at 103m, short of the target depth. An occurrence named the Bond Showing was identified returning values up to 6,714ppm (0.671%) Cu from grab sampling. Detailed panel sampling of a 2 by 2 metre panel returned average values of 1,006ppm Cu and 244ppb Au.
The 1989-91 estimates by Keewatin Engineering were produced prior to implementation of modern resource standards contained within National Instrument 43-101, have not been verified by Solitaire, and should not be relied on to necessarily represent accurate estimates under modern standards.
Imperial Metals (TSX symbol: III) has reported that hole RC09-350 intersected 152.5 metres of 4.12% Cu and 8.83g/t Au. This hole was collard 175 metres NE of the previously announced hole RC07-335 which intersected 1,024.1 metres of 1.01% Cu and 1.26 g/t Au. Other significant intersects at the Red Chris deposit include: RC09-353, which intersected 1,135 metres returning 0.5% Cu and 0.59 g/t Au; RC09-354, returning 817.5 metres of 0.55% Cu and 0.47 g/t Au; RC10-355, returning 757.1 metres of 0.38% Cu and 0.48 g/t Au; and RC10-360, returning 528.7 metres of 1.13% Cu and 1.97g/t Au.
With the option to acquire these claims, Solitaire Minerals will have a total of approximately 37,900 acres of land holdings in the area surrounding the Red Chris deposit. The Summit A Property occurs along the east border of the Red Chris project area to the east with the Summit D Property surrounds the eastern to north-eastern portions of the Red Chris project area. The Summit C Property covers land to the west of the Red Chris property. The Summit B Property covers the historic Kitty occurrence to the northwest of Red Chris. The B.C. Minfile description of the Kitty occurrence reports historic work including 9 bulldozer trenches over an area of 170 by 5 metres (B.C. Assessment Report 21416) and historic results from surface grab samples as high as 8.98% Cu, 24.5g/t Silver (Ag) and 0.045g/t Au. Grab samples as high as 1.61g/t Au and 0.6% Cu have been returned from another showing approximately 50 metres southwest of the bulldozed trench area.
Carl Schulze, BSc, PGeo, will be the Qualified Person for the Summit West Project.
About Solitaire Minerals Corp. (TSX-V symbol: SLT) is a diversified Junior Canadian Mineral Exploration Company with a specific focus on precious and base metal properties in North and South America. The Company has assembled exploration projects in Ontario, Saskatchewan, the Northwest Territories, Quebec and British Columbia.
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 the 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.
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.