October 7, 2004: Solitaire Minerals Corp. (the Company) is pleased to announce the completion Company’s 100% optioned Union Mine Property, located near Grand Forks, British Columbia.

A total of 350 lineal meters were dug in 11 trenches, to test for mineralization and to better define targets for drilling. Overburden depth ranged from 0.5 meters to greater than 8 meters; two trenches failed to reach bedrock due to the depth of overburden. In the remaining trenches, detailed geological mapping was done and areas of interest were sampled by continuous channel samples. In total, 103 samples were collected from trenches. Samples have been shipped to Eco Tech Laboratories in Kamloops for preparation and analysis. All trenches have been left open pending sample results. Backfilling will be done at a future date.

Trenching was done in four discrete areas, as follows:

Maple Leaf Crush Zone: Five trenches were dug at the Maple Leaf Crush Zone where previous wide spaced drilling had returned anomalous intercepts including 0.5 meters @ 25.9 g/t Au, 3.0 meters @ 6.8 g/t Au and 2.7 meters @ 3.25 g/t Au. A zone of intense alteration was uncovered in all 5 trenches. This alteration zone is associated with a major east-west trending, steeply dipping shear zone within syenite intrusive. Alteration is variably hematitic, argillic, albitic and silicification, with common quartz veinlets and with local weak to moderate quartz stockwork veining. Minor pyrite, chalcopyrite, and locally galena and sphalerite, occur within quartz veinlets. Trenching tested the Crush Zone over a strike length of approximately 150 meters. The zone was widest and most intense in the westernmost trench, Trench MLC04-1, where it measured 24 meters in true thickness.

Cabin Zone: A single trench was dug to test for mineralization at the Cabin Zone, where an old shaft, now caved, was reported to have tested mineralization in the footwall of the Maple Leaf fault. Mineralization was said to be similar in appearance to the Union Vein, and “carried values in gold and silver, but not high enough for shipping purposes”. No visually significant mineralization was discovered in the trench; however trenching was successful in exposing the surface trace of the (post-mineral) Maple Leaf fault. A good understanding of the position and orientation of this fault is necessary prior to drill testing the West Union Zone.

White Bear Zone: Three trenches were dug to better expose a zone of epithermal silicification and quartz breccia within Eocene conglomerate and arkose. Previous grab samples from float and very limited outcrop of the zone had returned elevated gold, to 900 ppb Au. Trenching tested the system over a strike length of approximately 75 meters. A strongly silicified/quartz breccia zone, 2.5 meters in true thickness, was discovered in Trench WB04-1. Trenching also uncovered a series of north trending, steeply dipping faults, with associated widespread, pervasive strong argillic alteration, within the Eocene sediments. Narrow vuggy quartz veinlets occur locally within the argillic altered zones.

Gloucester Creek Zone: The 2001 Fugro airborne geophysical survey of the property showed a very strong north-south trending EM conductor along Gloucester Creek. A second weaker conductor parallels the first, about 100 meters to the east. Two trenches were dug in an attempt to test eastern conductor. Overburden thickness exceeds 8 meters in this area; neither trench was successful in reaching bedrock.

Diamond drilling is scheduled to begin by October 15. Drilling will test the Gloucester Creek zone, the West Union Zone and the Maple Leaf Crush Zone. Depending on trench results, the White Bear zone may also be drill tested. A total of approximately 1500 to 2000 meters of drilling is planned.

For logistical reasons, drilling will begin at the West Union Zone. A fence of drill holes will be drilled to test for the western, faulted offset of the Union Vein. Historically, this vein produced a total of 122,555 tonnes at an average grade of 14 g/t Au and 353 g/t Ag, over a width of 1.5 to 7.5 meters, over a cumulate strike length of about 410 meters, and over a vertical range of about 160 meters. The vein is truncated on the west by the Maple Leaf fault. On surface, post-mineral sediments cover the area prospective for the offset portion of the vein, west of the Maple Leaf fault.

The Union Mine Property. The Union Mine Property consists of approximately 1,500 acres located in the Franklin Mining Camp, roughly 60 kms north of Grand Forks. The regional area of this part of the province is locally referred to as the Boundary district and encompasses the Rossland Camp on the east (produced over 3,500,000 oz of silver and over 2,700,000 oz of gold), the Republic area on the south, Buckhorn Mountain on the west and the Union Mine to the north. The Boundary District has a number of historical production areas and several current unmined reserves, including Buckhorn Mountain and Emanuel Creek (in production since December 2003). The Union Mine property is accessible via good quality all-weather road, and contains extensive underground workings. Historical production from a series of ore bearing veins was carried out between 1913 and 1989, with the majority of production occurring prior to 1942.

The above data is referenced in the 2004 technical and recommendations report on the Union Property, written by Linda Caron, M.Sc., P.Eng. The report is comp liant with National Instrument 43-101. To view the report in its entirety please visit www.sedar.com.

In addition, the Company announces that it has closed the private placement announced August 16, 2004.

$505,000 was raised by way of a non-brokered private placement at a price of $0.05.

6,100,000 units will be issued as flow-through units consisting of one flow-through common share and share purchase warrant. One warrant will entitle the holder to purchase one additional non flow-through Company at a price of $0.10 per share for the first year, and $0.12 until expiration the following year.

4,000,000 units will be issued as non flow-through units, each non flow-through unit consisting of one common share and one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional non flow-through common share of the Company at a price of $0.10 per share for the first year, and $0.12 until expiration the following year.

The proceeds of the private placement will be used for the Company’s Chukuni River and Union Mine Property, other exploration opportunities and general working capital.

Finder’s fees were paid as follow: 163,000 units to Bolder Investment Partners, 100,000 to Karim Jiwa and 100,000 units and cash payment of $26,000 to Jeanne MacDonald.

About Solitaire Minerals Corp. Solitaire Minerals Corp. is a Canadian mineral exploration company with a specific focus on 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 Red Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River Prospects, in which the Company has agreements to earn 100% in, but has not yet vested its interest. In addition, the Company has entered into an option agreement with another company, whereby that company may earn up to a 50% interest in the Baird Property. In British Columbia, the Company has an agreement to earn 100% interest in the Union Mine Property, but has not yet vested its interest.

For additional information you can 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




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