Bienville Gold/Uranium Property

Solitaire has an option agreement to acquire up to 100% interest in the Bienville Gold/Uranium Property located in James Bay, Quebec. The property is composed of 659 claims in 3 Blocks (to be named Block 1, 2 and 3), comprising an area of 32,850 hectares (81,170 acres).

About James Bay Area
Lake sediment sampling by the Quebec government in the early 1970's indicates that the James Bay area contains regions with elevated gold and uranium values. The highest concentration of uranium is located in the southern part of Block 1. Bonaventure Enterprise, a junior mining company who owns ground between Solitaire's Block 1 and Block 2 property, made public on their website a report showing results of a helicopter borne radiometric survey. The survey clearly indicates higher total field uranium values in Block 1 than on the Bonaventure property. Subsequent Bonaventure drilling discovered significant intersections of white pegmatitic rock mineralized with uranium, 160-250 ppm U3O8 in intervals of 3 to 11 meters in length (hole 3, press release July 10/08). Preliminary prospecting in Block 1 has located a significant amount of white pegmatite in a 75 meter high and 6 kilometer long ridge. Prospecting with an RS-125 scintillometer located an area where the total field radioactivity reached as high as 20,000 counts per second (cps). Average values ranged between 3,000 to 7,000 cps.

There are also five regions of elevated lake sediment gold values as determined by the Company. Four of the five define linear trends that extend 4 to 8 km in length and the fifth is a cluster over 2 km in diameter. One of these linear trends contains interpreted cross structures where lake sediment gold values are approximately 10 to 100 times above background (38 to 410 ppb gold), which are considered anomalous. In addition it can be stated that approximately 80% of the lakes sampled in this region are anomalous in gold. (The above historical data has not been verified by Solitaire Minerals Corp.).

The James Bay region is where Virginia Gold Mines discovered the Eleonore gold deposit in 2004 and then sold it in 2006 to Goldcorp for approximately 500 million dollars. The region extends over 700 by 700 kilometers and is considered to have undiscovered mining potential. Presently there are 5 gold deposits, 1 gold mine (Troilus), a 20 million tonne Cu-Mo porphyry deposit (Western Troy's MacLeod Lake) and a 13 million tonne Zn-Cu deposit being developed by Virginia Gold Mines, the Coulon project.

Option agreement
This Option agreement is subject to TSX Venture Exchange approval.

To earn a 100% interest in the Bienville Property the Company must:

• Pay $30,000 and issue 300,000 Common Shares to the Optionor within 5 days of the TSX Venture Exchange approval.
• Pay $30,000 and issue 300,000 Common Shares to the Optionor, on or before the first anniversary of the agreement date.
• Pay $45,000 and issue 400,000 Common Shares to the Optionor, on or before the second anniversary of the agreement date.
• Pay $45,000 and issue 400,000 Common Shares to the Optionor, on or before the third anniversary of the agreement date.

The Bienville property subject to a 3% Net Smelter Royalty to the Vendors.

Also read May 12th, 2009 news release