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February 1, 2010: Solitaire Minerals Corp. (TSX-V symbol: SLT) (Solitaire) has added 13,331 acres to its current land package surrounding Imperial Metal Corporation's (TSX symbol: III) Red Chris property in northwestern British Columbia, Canada. This newest property will be named Summit "C" as is now Solitaire's third property in this region. To view a map of the location of Summit "A", Summit "B" and Summit "C" please visit the following link: http://www.solitaireminerals.com/projects/summit/.
Solitaire has entered into an option agreement whereby it can earn up to 100% interest in three property units collectively named the Summit Lake Project totaling 18,789 acres in northwestern British Columbia, Canada. The 2,948 acre Summit "A" property unit immediately borders the eastern boundary of Imperial Metal Corporation’s Red Chris property. The 2,510 acre Summit "B" property is located ten kilometres northwest of the Red Chris property. The 13,331 acre Summit "C" property unit is located 7 kilometres west of the Red Chris property.
Two mineralized systems have been identified on the Summit "B" property, within a kilometer to the south of a large early Mississippian granodiorite to diorite pluton. One system is indicated by several trenches exposing a system of vein-style copper, gold and silver mineralization over a strike length of approximately 170 meters with an average width of 5 meters. Grab samples of phyllitic material returned values to 3.6% copper; a 1.5-metre chip sample returned 0.17% copper (Assessment Report 21760). A sample of a 10-centimetre high-grade pod of quartz-pyrite-chalcopyrite-malachite assayed 8.98% copper, 24.5 g/t silver and 0.045 g/t gold (Assessment Report 21416).
The other system, located about 50 metres to the southwest, has a similar mineralogy to the first, but is arsenopyrite-bearing. Trenching has exposed a 1.0-metre lenticular quartz vein with blebs of pyrite, arsenopyrite and chalcopyrite. A grab sample returned 0.6% copper and 1.61 g/t gold (Assessment Report 21760).
Carl Schulze, BSc, PGeo, will be the Qualified Person for the Summit Lake 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, British Columbia, and in southern Peru.
For additional information please contact Solitaire Minerals Corp. or visit http://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.