Solitaire Minerals Closes Private Placement

Thursday, June 05, 2003

June 5, 2003 Solitaire Minerals Corp. (SLT - TSX.V) is pleased to announce that it has closed a private placement of 440,000 Units at a price of $0.10 per unit for total proceeds of $44,000. Each Unit consists of one common share and one non-transferable share purchase warrant exercisable into one common share at a price of $0.10 per share until May 28, 2004.

The shares and shares issued on the exercise of any warrants will be subject to a hold period that will expire on September 29, 2003.

Subject to the TSX Venture Exchange approval, the Company has agreed to a loan agreement with an arms length party for $35,000.00 cdn to fund working capital. A bonus of 20% of the value of the loan is payable in shares of the company at a deemed price of $0.10 per share.

The Company is currently negotiating a financing for exploration on its 100% owned Red Lake properties:

Chukuni River Property: The Chukuni River claims comprise 1500 acres located approximately 3 ½ kilometers immediately south of Goldcorp Inc.'s new Shaft #3, and bordering upon the Goldcorp Inc. Red Lake mine property immediately south, and bordering upon the Goldcorp Inc. Red Lake mine property

Baird Property: The Baird claims comprise approximately 1250 acres in the Baird Township, 8 kilometers southwest of the town of Red Lake. The property adjoins the Starratt-Olsen and Madsen mine properties of Claude Resources / Placer Dome.

Golden Pickle Property: The Golden Pickle claims comprise 1960 acres in Connell Township in the Patricia Mining District of Ontario. The property lies between the Pickle Crow and Central Patricia Mines, east of the town of Pickle Lake.

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.