Summit Lake Project, British Columbia

Solitaire Minerals has entered into agreements to earn up to 100% interest in five property units collectively named the Summit Lake Project, totalling 37,914 acres in northwestern British Columbia.

Solitaire's claims surround the Red Chris property, owned by Imperial Metals Corporation (TSX: III), which has reserves of over 300 million tonnes of proven and probable mineable reserves grading 0.359% copper and 0.274 g/t gold.

The Summit Lake Project is divided into five units: the A, B, C, D, and West properties.

On September 7, 2010, Solitaire Minerals announced results of a ground program at Summit Lake containing composite grab samples up to 17.9 g/t gold. For more information on the results of that program click here.

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Summit "A" and "B"
The 2,948-acre Summit "A" property immediately borders the eastern boundary of Imperial Metal Corporation's Red Chris property. The 2,510-acre Summit "B" property is located 10 kilometres northwest of the Red Chris property. Both of these properties were acquired on November 18, 2009.

On January 21, 2010, Solitaire announced an extensive ground program over its newly acquired Summit "A" and "B" properties. Two mineralized systems were identified on the Summit "B" property, within a kilometer to the south of a large early Mississippian granodiorite to diorite pluton. One system is indicated by several trenches exposing a system of vein-style copper, gold and silver mineralization over a strike length of approximately 170 meters with an average width of 5 meters. Grab samples of phyllitic material returned values to 3.6% copper; a 1.5-metre chip sample returned 0.17% copper (Assessment Report 21760). A sample of a 10-centimetre high-grade pod of quartzpyrite- chalcopyrite-malachite assayed 8.98% copper, 24.5 gpt silver and 0.045 gpt gold (Assessment Report 21416). The other system, located about 50 metres to the southwest, has a similar mineralogy to the first, but is arsenopyrite-bearing. Trenching exposed a 1.0-metre lenticular quartz vein with blebs of pyrite, arsenopyrite and chalcopyrite. A grab sample returned 0.6% copper and 1.61 gpt gold (Assessment Report 21760).

The other system, located about 50 metres to the southwest, has a similar mineralogy to the first, but is arsenopyrite-bearing. Trenching has exposed a 1.0-metre lenticular quartz vein with blebs of pyrite, arsenopyrite and chalcopyrite. A grab sample returned 0.6% copper and 1.61 gpt gold (Assessment Report 21760).

On September 7, 2010, the Company reported that preliminary surface geological mapping and geochemical sampling outlined a gold-bearing horizon on its Summit "B" property. The 2010 program included due-diligence style sampling of the known trend and other copper occurrences, but focused largely on identification and elineation of the gold bearing horizon. Further exploration at the location which had previously returned values of up to 4.950 gpt gold yielded two notable rock composite grab samples of similar auriferous rock. The values were assayed to be 17.9 gpt gold with 18.5 gpt silver, and 10.9 gpt gold with 15.9 gpt silver respectively. Detailed grid soil sampling and rock sampling indicate these correspond to a 250-metre trend of anomalous gold values, including a rock chip sample of similar material grading 1.875 gpt gold across 2.0 metres. Similar coincident anomalous copper-gold values were returned from soil sampling about 250 metres farther northwest along trend. This trend represents a new target warranting further exploration within the Summit B block.

Summit "C" Property
On February 1, 2010, Solitaire Minerals entered into an option agreement to acquire a 100% undivided interest in 13 claims totalling 13,331 acres in northwestern British Columbia, known as Summit "C". The Summit "C" property is located 7 kilometres west of Imperial Metal Corporation's Red Chris property.

Summit "D" Property
On January 25, 2010, Solitaire Minerals entered into an agreement to acquire a 100% undivided interest in 17 claims covering 15,925 acres in northwestern British Columbia. The 15,925 acre Summit "D" property immediately borders Summit "A" to the east and continues north where it borders the northern border of Imperial Metal Corporation's Red Chris property.

Summit West Property
On April 13, 2010, the Company entered into an option agreement whereby it can acquire a 100% interest in 3 claims located to the west of Imperial Metals Corporation's Red Chris deposit.

The new claims cover an area worked in 1989-91 by Keewatin Engineering (BC Assessment Report 21,128). The claims were identified as having a potential for hosting porphyry copper-gold mineralization and/or precious metal veins which commonly occur peripherally to porphyry deposits. Historical work consisted of geochemical, geophysical surveying, and drilling of three diamond drill holes. The geochemical surveying identified an anomaly measuring 1,300 by 400 metres with a threshold of 150ppm Copper (Cu). The Geological Survey of Canada (GSC), represented by Souther in 1971, identified similar geological features at Summit West to those found at the Red Chris deposit.

DDH-90-B10 collard within the anomaly, intersected a 9.0 metre interval (from 12.0 to 21.0 m) of fractured and clay-altered greywacke returning 2.01gpt gold (Au) and 640ppm copper (Cu). This hole was stopped at 103m, short of the target depth. An occurrence named the Bond Showing was identified returning values up to 6,714ppm (0.671%) Cu from grab sampling. Detailed panel sampling of a 2 by 2 metre panel returned average values of 1,006ppm Cu and 244ppb Au.

The 1989-91 estimates by Keewatin Engineering were produced prior to implementation of modern resource standards contained within National Instrument 43-101, have not been verified by the Company , and should not be relied on to necessarily represent accurate estimates under modern standards.