Solitaire Minerals Options Chukuni River Claims to Horizon Gold

Tuesday, February 25, 2003

February 25, 2003 – Solitaire Minerals (TSX.V – SLT) and Horizon Gold Corp. are pleased to announce the signing of a Letter of Intent, which will be formalized by way of an Option Agreement subject to due diligence being completed by Horizon. The Letter of Intent lays out the parameters with respect to Horizon’s intended involvement as a partner with Solitaire on its Chukuni River Claims.

The Chukuni River Claims refer to certain claim units totaling 1500 acres in Byshe Township in the prolific Red Lake Mining District. Two of the claims are contiguous with Goldcorp’s (TSX:G, NYSE:GG) Red Lake Mine claim group. Goldcorp recently announced that it would be sinking a new shaft (Shaft #3) to a depth of 7150 feet with a total hoisting capacity of 4000 tons per day. According to information from Goldcorp, Shaft #3 is due south from Shaft #1. The Chukuni River Claims are on trend and south of Goldcorp’s Shaft #1 and Shaft #3.

Solitaire previously entered into an option agreement with 1304850 Ontario Ltd., (the licensee/optionor) referred to as the “Byshe Option Agreement” which grants Solitaire the exclusive option to acquire up to a 100% undivided interest in the Chukuni River Claims.

To earn a 50% interest in the Chukuni River Claims, Horizon will be required to incur exploration expenditures on the project to the sum of $1,000,000 in Canadian funds over a three year period, of which $250,000 will be committed in the first year, $350,000.00 year two, and $400,000.00 year three.

Horizon will also be required to issue up to 120,000 common shares to Solitaire over the three year period, pay $20,000 to Solitaire upon completion of a formal Option Agreement, and pay 50% of the property payment fees required to be paid to the original licensee/optionor under the Byshe Option Agreement between Solitaire and 1304850 Ontario Ltd. The original vendor will retain a 2% NSR, 1% of which can be purchased by Solitaire for $600,000. The formal option agreement between Solitaire and Horizon will be subject to regulatory approval.

About Solitaire Minerals Corp.
Solitaire Minerals Corp. is a Canadian mineral exploration company with a specific focus on prospective gold properties in North America. The Company has assembled a portfolio of precious metal exploration prospects in Ontario and British Columbia. Solitaire's Ontario properties in the prolific Red Lake/Birch-Uchi Greenstone Belt include the Headway, Pickle Crow and Garnet Lake prospects, in which Solitaire can earn up to a 50% interest through option agreements with King's Bay Gold Corp and the South Baird, Golden Pickle, and Chukuni River Prospects, which are held 100% by Solitaire. Each of these properties exhibits excellent potential for hosting high-grade gold deposits and is located within the world class Red Lake, Ontario area. For additional information you can contact Solitaire Minerals Corp. at 604-683-5445 or visit the Web site at http://www.solitaireminerals.com.

About Horizon Gold Corp.
Horizon Gold Corp. (“Horizon”) is a private gold exploration and development company headquartered in Toronto, Canada. The Company is strongly committed to returning wealth to its shareholders by applying strong management discipline, instituting cost-cutting measures, leveraging new technology and accelerating revenue by bringing each of its assets to commercial production.

Greg Beckett serves as Chairman and CEO and manages the Company’s relationships with its investors and oversees all public and investor relations activities. Mr. Beckett, author of 18 filed and 13 granted U.S. patents, was the initial President of Beckett Technologies Corp., a company he co-founded in 1989. In 1993, Beckett Technologies Corp. went public on the TSX Venture Exchange and, in 1994, the company took over Alcan International Limited’s Micro-Match®, microwavable food packaging division. In 1997, Mr. Beckett started Beckett Capital Corp., a securities dealer licensed with the Ontario Securities Commission. In 2001, Kingsdale Capital Corp. acquired Beckett Capital Corp. where Mr. Beckett was a cofounder and Vice Chairman. In 2000, Mr. Beckett became the President of The Richmond Club, an investor relations company that provides growth companies with exposure to 2.2 Million investors.

Kabir Ahmed serves as Vice-Chairman and President and is responsible for all day-to-day operations, strategic acquisitions, and corporate finance. Mr. Ahmed also serves as the Company’s General Counsel. Prior to joining Horizon, Mr. Ahmed co-founded Richmond Capital Partners Inc., a Toronto Bay Street merchant bank that specializes in small and mid-cap equity financings. Mr. Ahmed also recently served as a senior manager with the Toronto Stock Exchange (TSX), where he gained valuable experience with respect to venture exchange and senior exchange listings. Trained as a Bay Street corporate and securities lawyer, Mr. Ahmed holds a Bachelor of Science degree from the University of Toronto, a law degree from Osgoode Hall Law School, and a M.B.A. in Corporate Finance from York University’s Schulich School of Business. He is admitted to practice law in both Ontario and New York State, and he is a member of the Canadian, American and New York Bar Associations. Web site at http://www.horizongoldcorp.com.

On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
“Charles Desjardins”
Charles Desjardins
President and Director

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