May 2, 2003 Solitaire Minerals Corp. (the “Company”) announces the private placement of 500,000 units at a price of $0.10 per unit, subject to the approval of the TSX Venture Exchange. Each unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share at a price of $0.10 per share for a period of two years.

The proceeds from the private placement will be used for general working capital.

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, in which Solitaire can earn up to a 25% interest, and the 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. The Company also has the South Baird, Golden Pickle, and Chukuni River Prospects, which are held 100% by Solitaire. Each of these properties exhibits excellent potential for hosting highgrade 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.

On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.

"Charles Desjardins"

Charles Desjardins
President and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.




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