News Release 2007 Mar 19 Solitaire Minerals Corp. Applies for Drill Permits for the Riou Lake Uranium Property, in the Athabasca Basin | Solitaire Minerals Corp. Applies for Drill Permits for the Riou Lake Uranium Property, in the Athabasca BasinMonday, March 19, 2007 March 19, 2007: Solitaire Minerals Corp. (TSX-V: SLT) is pleased to announce that it has applied for drilling permits for the Riou Lake Property, located within the Athabasca basin, Saskatchewan. It has been determined that the seasonal "break up" will not affect the drill target zones, so drilling will begin shortly after permit approval. The proposed drill program will encompass a minimum of 4000 meters with all targets to be collared on dry land south of Riou Lake and concentrated near the centre of the Soil Gas Hydrocarbon anomalies designated by Actlabs as the "Primary Target" and "Secondary Target", in conjunction with other geochemistry from the area.
The Primary Target Area is 3 km long and the Secondary Target Area is 2 km long. The furthest eastern anomaly (The Primary Target) also coincides with a possible zone of alteration suggested by a magnetic low along the Escarpment Fault and one sample from a stream exiting the escarpment yielding 9.4 ug/litre (micrograms per litre) of Uranium which is anomalous. Four other water samples taken from other locations on the Property had an average value of less than 0.1 ug/litre.
Solitaire Minerals has retained the services of The Richmond Club Corp. ("Richmond Club") of Toronto, Canada, to provide investor relations services for the Company, subject to TSX Venture Exchange approval.
The Richmond Club is a media company that showcases 3-4 companies that it feels, have an excellent chance of out-performing the market over a 1-2 year period, at its monthly luncheon meetings. These companies are showcased to The Richmond club's 612 members, through its website and at investor luncheon meetings. Richmond Club members are a mixture of brokers, fund managers analysts and high net-worth investors. Monthly luncheon meetings are held in Toronto at the National Club, at Bay & King Street and are free of charge to brokers, fund managers, analysts and high net-worth investors.
Richmond Club will receive a monthly fee of $1,450 and will be granted 118,000 stock options vesting 25% now and every three months during the first 12 months at an exercise price of $0.29 per share. The term of the investor relations contract with the Richmond Club is one year.
About Solitaire Minerals Corp. Solitaire Minerals Corp. (TSX-V symbol: SLT) 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, Saskatchewan, Alberta, and the North West Territories. 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 75% interest in the Baird Property. The Company also has an option to earn 100% in the Lateral Lake West property located in the Webb township of Ontario. In Saskatchewan, the Company has signed a purchase agreement to acquire a 100% interest in the Highrock Lake property and a 90% interest in the Riou Lake Property located in the Athabasca Basin. The Company has also acquired the Ri`ou Lake North and South properties in which the company has 100% interest. In Alberta, the Company has purchased the Ravenscrag property in which the Company has 100% interest. In the North West Territories, the Company has purchased the Mystery Island IOCG Property located in the Great Bear Lake area in which the Company has 100% interest.
For additional information please 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, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. 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. |