Solitaire signs Purchase Agreement on Highrock Lake Property in Athabasca Basin

Tuesday, October 12, 2004

October 12, 2004: Solitaire Minerals Corp. (the Company) is pleased to announce the signing of a Purchase Agreement with Seagrove Capital Corp. to acquire a 100% interest in 3,117 hectares (approximately 7,700 acres) of prospective uranium claims located south west of Key Lake in northern Saskatchewan.

Terms of the agreement call for the Company to pay the Vendor a total of $10,000 and 250,000 common shares.

The Highrock Lake Property consist of approximately 3,117 hectares (approximately 7,700 acres) located in northern Saskatchewan south west of the past producing Key Lake Mine. The area to the west has been recently staked by International Uranium Company. Please view map at http://www.solitaireminerals.com/gold/IR/downloads.asp

The Athabasca basin hosts several major uranium deposits including Cigar Lake and McArthur River, two of the highest-grade uranium deposits in the world. It is the most productive uranium producing region in the world. Hosting the largest and richest uranium mines and producing over 33 per cent of the world's supply.

Solitaire will be evaluating other potential prospects within and outside the Athabasca Basin in the following months.

In addition, Solitaire has appointed Mr. Jim Kermeen, M.Sc., P.Eng, a consulting geological engineer to the advisory board.

Mr. Kermeen brings over 40 years experience in the mineral industry including 17 years of exploration and underground mine geology relating to uranium deposits in northern Saskatchewan; Mr. Kermeen’s Masters Thesis was on the first known occurrence of uranium on the unconformity at the base of the Athabaska Sandstone. Mr. Kermeen is the qualified person on the project.

The Purchase Agreement is subject to TSX Venture Exchange approval.

About Solitaire Minerals Corp. Solitaire Minerals Corp. is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, British Columbia and Saskatchewan. 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. In Saskatchewan, the Company has signed a purchase agreement to acquire a 100% interest in the Highrock Lake property in the Athabasca Basin.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.