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January 7, 2010: Solitaire Minerals Corporation (TSX-V symbol: SLT) (Solitaire) would like to announce the results of geochemical analysis of boulder samples collected in the fall of 2009 on its C5 and C6 properties in the Wheeler River area of the Athabasca Basin, Saskatchewan. This data was collected and analyzed by Delta Uranium Inc. (TSX symbol: DUR) (Delta), the operator of the project. Elevated to anomalous values in uranium, boron and other pathfinder elements were found on both the C5 and C6 properties.
A total of 140 samples of sandstone boulders were collected from the C5 and C6 properties and sent for geochemical analysis. Both properties adjoin the Wheeler River project of Denison Mines, Cameco and JCU, about 6 kilometres north of the Phoenix uranium zone. A trend of elevated to locally anomalous uranium, boron, arsenic and lead values has been defined. This coincides with a conductive trend (confirmed by a 2007 VTEM airborne survey), as well as a "quartzite ridge", both of which were defined by previous exploration carried out by Cameco in 2001. The quartzite ridge appears to be an important geological feature that is closely associated with uranium mineralization at the McArthur River mine, 30 kilometres to the northeast. Denison recently stated that, "This mineralization represents the most significant new discovery in the Athabasca Basin in many years and it has many geological similarities to the MacArthur River mineralization but is at shallower depth". This area has been the target of a focused exploration project by Denison since the discovery of the Phoenix uranium zone in which assay results ranging up to 62.6% U3O8 over 6 metres in drill hole WR-273 were announced.
Delta intends to commence a program consisting of ground and/or airborne geophysical surveys leading to a late winter drill program on its C5 and C6 dispositions within the next 30 days.
Wayne Isaacs, Chairman and CEO of Delta states that, "These initial results on our C5 and C6 properties are very encouraging. We are definitely in the hotbed of activity as far as the Wheeler River area is concerned which Denison recently describes as being "favourably located along strike from the MacArthur River deposit and is underlain by many of the same geological features as are present on that producing property".. With our property being only 6 kilometres away from the Phoenix zone we are looking forward to the mineralogical analyses which we expect by mid January, and commencing a structured but aggressive exploration program".
Delta Uranium Inc. has an option to earn an 80% undivided interest in the C3 property and an option to earn a 75% undivided interest in the C4, C5 and C6 properties from Solitaire.
Technical information in this news release has been prepared and/or revised by Colin Bowdidge, Ph.D., P.Geo., VP Exploration, Director and Qualified Person as defined in NI 43-101 for Delta.
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, British Columbia, and in southern Peru.
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.