News Release 2007 Jun 14 Solitaire Minerals Corp. Preparing to Drill High Grade Rubidium Zone at the Lateral Lake Claims | Solitaire Minerals Corp. Preparing to Drill High Grade Rubidium Zone at the Lateral Lake ClaimsThursday, June 14, 2007 June 14, 2007: Solitaire Minerals Corp. (TSX-V symbol: SLT) (the Company) has recently purchased 100% interest in 17 units in the Webb Township at a cost of 100,000 common shares from the property vendor. These newly acquired claim units are contiguous with the original Lateral Lake claim units and will command the focus of further study. These claims are located within two kilometers of an all-weather road, approximately 30 kms northeast of Dryden, Ontario. The original Lateral Lake claims contain the extension of the Lateral Lake Fault which is known to contain Molybdenum and Copper within a biotite-quartz gneiss or pegmatitic dykes.
These claims have been the focus of several past work programs. Most recently two diamond drill holes were drilled in August of 1999 for a total of 337 feet. Hole #1 started in pegmatite at surface and ended at 119 feet. The average grade of Rubidium in Hole #1 was 1353 ppm over the entire 119 foot intercept. Hole #2 intercepted the pegmatite from 47 feet and terminated in Rubidium-rich feldspar at 182 feet, remaining open at depth. The average grade of Rubidium in Hole #2 was 1243 ppm over the 135 foot intercept (Refer to the OPAP 99-079 Final report issued January 3, 2000 by Alex Glatz).
The primary use for Rubidium is in specialty glasses used in fiber optic telecommunication systems. Rubidium's photoemissive properties have led to its use in night-vision devices, photoelectric cells, and photomultiplier tubes. There are several other uses for Rubidium.
Since Rubidium is not traded, no market price is available. However in 2006, one company offered 1-gram ampoules of 99.75%-grade rubidium (metals basis) at $58.20 per gram, and the price for 100 grams of the same material was $1,118.00. This information was collected from the UGSG minerals information site.
Solitaire Minerals has prepared an eight hole diamond drill program totaling approximately 700 meters to target this know zone of Rubidium. The area of the two "historical" holes will be drilled and the strike extensions of the pegmatite tested. Canadian Driller Training Ltd. will commence the diamond drill program during the week of June 18th, 2007.
Mr. Garry Clark, P.Geo, the Qualified Person on the Lateral Lake property, has approved this release.
The Company would also like to announce that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants and employees to purchase in the total of 1,700,000 common shares in the capital stock of the company exercisable for a period of two years, at a price of $0.15 cents per share. These options are subject to a four-month hold period.
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. |