News Release 2007 Mar 28 Solitaire Minerals Retain Condor Consulting Ltd. For Interpretation of Mystery Island VTEM Geophysical Survey | Solitaire Minerals Retain Condor Consulting Ltd. For Interpretation of Mystery Island VTEM Geophysical SurveyWednesday, March 28, 2007 March 28, 2007: Solitaire Minerals Corp. (TSX-V: SLT) (the Company) has received final results from its helicopter-borne VTEM (Geotech Ltd.) geophysical survey on the Mystery Island iron-oxide, copper, gold, silver and uranium (IOGC) project (see news dated July 5, 2006). This survey identified a 12 kilometer long magnetic low which is coincident with a large regional fault on the west side of the Port Radium mining camp. Preliminary interpretation suggests that this is an expression of a major alteration zone. This is very significant because this fault bounds the mining camp and has the same orientation as the faults which hosted the Eldorado Mines and Echo Bay Mines high grade uranium, silver and copper ore bodies.
Condor Consulting Ltd., recognized experts in the field of airborne electromagnetics, has been retained to perform a detailed interpretation of results. This interpretation will guide the next stage of exploration.
The Company continues to study the extensive Kinross technical library for the Port Radium uranium district which has already produced significant results for the Company. The technical library includes Echo Bay Mines and Eldorado Nuclear mine and exploration reports for the entire mining camp in the Great Bear Lake Region up until 1981 when Echo Bay Ltd. ceased production and exploration. The Eldorado uranium mine produced 15 million pounds of uranium and eight million ounces of silver.
Work by Echo Bay Mines in 1981 noted that the geology of Mystery Island (100% Solitaire interest) is similar to that of Contact Lake mine. Sampling, by Echo Bay, around the adit located on Mystery Island, returned grades of up to 16.90% copper and 3.4 oz silver per ton. Sampling, by Solitaire, in 2006 at a nearby location returned values of up to 2.665 % copper, 0.179% cobalt and 0.13% uranium (previously reported January 15, 2007).
The Eldorado and Mystery Island projects consist of approximately 22,717.23 acres, 430 kilometres north of Yellowknife in the Northwest Territories. The property adjoins and is partly surrounded by the Alberta Star Development Corp's Contact Lake project. Solitaire and Alberta Star share some of the underground working of the Eldorado mine of which Solitaire Minerals owns the most recent historical data.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
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 Riou 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. Also in the NWT, the Company acquired the Eldorado 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. |