Solex Reports Complete Drill Results at the Puncopata Prospect, Including 8 Metres of 0.216% U3O8 in Hole PUN08-22, Macusani East Uranium Project, Peru



    VANCOUVER, Dec. 12 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today reported the final results of the 2008 drilling program
completed on the Puncopata Prospect at the Macusani East uranium project where
previous drilling intersected encouraging results. The Macusani East project
is a 50/50 joint venture property with Eldorado Gold Corporation and covers
approximately 47,820 hectares in Southern Peru.

    Highlights from drill hole PUN08-22

    
    -   8.00 metres of 0.216% U3O8
    -   Including 1.00 metre of 0.918% U3O8
    -   Including 1.00 metre of 0.515% U3O8
    

    "We have completed a significant drill program at the Macusani East
project and continue to receive encouraging results," said Jonathan Challis,
President and CEO of Solex Resources. "The final drill hole of the program,
PUN08-22, returned additional high grade mineralization, and we believe the
mineralization at Puncopata may extend deeper than initially interpreted."
    The 2008 program consisted of ten holes totalling 999.7 metres which
formed part of the 27,600-metre program conducted from 2006 to 2008 to test
the seven initial uranium targets identified by the Peruvian Institute of
Nuclear Energy (IPEN) in the 1970s.
    The assays from drill hole PUN08-22 confirm the high grade nature of the
mineralization discovered at Puncopata (refer to additional information in
press release dated January 16th, 2008) and demonstrate that the uranium
mineralization is not necessarily restricted to congealing and sealed
subsurface cooling fractures and could possibly extend beyond these. The
mineralization at the Puncopata target may have roots deeper than previously
interpreted. Several encouraging uranium values have been intersected both at
surface within a strata-bound westerly-terminating wedge of the T2 ignimbrite
volcanic flow and up to a vertical depth of 55 metres in fracture-controlled
faults with adjacent dissemination.
    The next phase of exploration is to complete detailed mapping and
together with some surface pit and trench sampling in order to better
understand the control of the mineralization, in particular where high grade
shoots have been intersected. To date, these intersections remain open both at
depth and along strike. The uranium mineralization identified through drilling
at Puncopata occurs as several mineralogical types, disseminated between
tuffaceous fragments and within congealing fracture fillings related to
cooling of near-surface flows.
    Solex was provided access to the Operators full database by Eldorado Gold
Corp. on September 11, 2008 (see related news release). The Company retained
an independent Qualified Person, Mr. Alain Vachon, P.Eng., Geologist, to
review, evaluate and where necessary reconstruct the data base. He has visited
the field and conducted testing and enquiry to his level of satisfaction to
confirm and where necessary test the appropriateness and sufficiency of the
QA/QC procedures performed by the Operator. Mr. Vachon has been actively
involved in mineral exploration, mine development and mining operations in
Peru and Canada throughout his career. Both Mr.Vachon and Jonathan Challis,
FIMMM, are Qualified Persons under Canadian Securities Administrators National
Instrument 43-101 policies and are responsible for the contents of this news
release.

    About the Macusani East Project

    The Macusani East project is joint-ventured with Eldorado Gold
Corporation. The Project contains 53 known uranium anomalies discovered in the
1970s by the Peruvian Institute of Nuclear Energy (IPEN) and consists of 72
concessions covering 47,820 hectares. On April 21, 2005, Solex entered into a
joint venture agreement with Frontier in which Frontier had the right to earn
a 50% interest in the project by spending US$4-million over five years as the
operator. Frontier fulfilled its obligations in just over two years and
subsequent to the acquisition of Frontier by Eldorado in 2008, Eldorado is now
a 50/50 partner on the project.

    About Solex Resources Corp.

    Solex Resources Corp. is the dominant landholder in southern Peru's
Macusani Uranium District with concessions covering over 904 km(2). The
Company is also aggressively exploring its three 100% owned Macusani uranium
projects. NI 43-101 reports have recently been filed on both the Princesa
silver, lead and zinc property and the Pilunani lead and zinc project.

    
    The TSX Venture Exchange (the "Exchange") has not reviewed and does not
    accept responsibility for the accuracy or adequacy of this news release.
    The Exchange has in no way passed upon the merits of the proposed
    transaction and has neither approved nor disapproved the contents of this
    press release.
    

    This news release may contain forward-looking statements that are based
on Solex's expectations, estimates and projections regarding its business and
the economic environment in which it operates. These statements are not
guarantees of future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do
so by law.


    
    -------------------------------------------------------------------------
                        2008 PROGRAM DRILL INTERCEPTS
    -------------------------------------------------------------------------
    Hole No.  From (m)  To (m)  L (m)  U3O8 (ppm)  U3O8 (%)  U3O8 (lbs/s.ton)
    -------------------------------------------------------------------------
    PUN08-13    37,00   42,00   5,00      334       0,033         0,668
        incl    37,00   38,00   1,00      382       0,038         0,764
                40,00   42,00   2,00      621       0,062         1,242
                48,00   49,00   1,00      449       0,045         0,898

    PUN08-14    38,00   40,00   2,00      521       0,052         1,042
                43,00   45,00   2,00      102       0,010         0,204

    PUN08-15    40,00   41,00   1,00      147       0,015         0,294
                44,00   45,00   1,00      144       0,014         0,288

    PUN08-16    23,00   24,00   1,00      124       0,012         0,248
                32,00   43,00  11,00      105       0,011         0,210
                52,00   53,00   1,00      108       0,011         0,216

    PUN08-17    23,00   25,00   2,00      154       0,015         0,308
                31,00   32,00   1,00      241       0,024         0,482
                37,00   38,00   1,00      234       0,023         0,468

    PUN08-18    26,00   29,00   3,00      152       0,015         0,304
                32,00   33,00   1,00      133       0,013         0,266

    PUN08-19                     NSI

    PUN08-20    28,00   34,00   6,00      148       0,015         0,296
        Incl    32,00   34,00   2,00      218       0,022         0,436

    PUN08-21    74,00   75,00   1,00      146       0,015         0,292

    PUN08-22    33,00   34,00   1,00      209       0,021         0,418
                42,00   44,00   2,00      110       0,011         0,220
                65,00   70,00   5,00      179       0,018         0,358
                77,00   85,00   8,00     2159       0,216         4,318
        Incl    78,00   79,00   1,00     5153       0,515        10,306
                80,00   81,00   1,00      604       0,060         1,208
                81,00   82,00   1,00     9175       0,918        18,350
                82,00   83,00   1,00      569       0,057         1,138
                83,00   84,00   1,00     1414       0,141         2,828
    -------------------------------------------------------------------------

    Note: Lower cut off grade set at 0.01% (100 ppm) U3O8 equivalent
    to 0.20 lb per short ton. No top cut was used


    Table 2: Previously reported drill results from Puncopata Prospect

    -------------------------------------------------------------------------
    Hole ID     From     To    Interval    U3O8    U3O8   U3O8 lbs/ton
                  (m)    (m)      (m)       ppm      %      (short)
    -------------------------------------------------------------------------
    PUN06-01    23.2    39.2     16.0       394    0.039      0.79

    PUN06-01    46.2    47.2      1.0       217    0.022      0.43

    PUN06-03    17.5    22.5      5.0       129    0.013      0.26

    PUN06-03    28.5    30.5      2.0       159    0.016      0.32

    PUN06-03    33.5    43.5     10.0       196    0.020      0.39

    PUN06-04    31.5    40.5      9.0       199    0.020      0.40

    PUN06-05    31.5    32.5      1.0      1008    0.101      2.02

    PUN06-05    37.5    38.5      1.0      1392    0.139      2.78

    PUN06-05    42.5    43.5      1.0       334    0.033      0.67

    PUN06-05    48.5    49.5      1.0       101    0.010      0.20

    PUN06-06    20.5    22.5      2.0       126    0.013      0.25

    PUN06-06    27.5    28.5      1.0      3641    0.364      7.28

    PUN06-06    33.5    39.5      6.0       242    0.024      0.48

    PUN06-07     9.5    10.5      1.0       242    0.024      0.48

    PUN06-08    25.5    26.5      1.0      1904    0.190      3.81

    PUN06-09    14.5    20.5      6.0       775    0.077      1.55

    PUN06-09    26.5    35.5      9.0       138    0.014      0.28

    PUN06-10    12.5    13.5      1.0       263    0.026      0.53

    PUN06-10    21.5    22.5      1.0       478    0.048      0.96

    PUN06-10    30.5    31.5      1.0       227    0.023      0.45

    PUN06-11                      NSI

    PUN06-12                      NSI

    PUN07-01    37.0    38.0      1.0       324    0.032      0.65

    PUN07-01    58.0    66.0      8.0      3730    0.373      7.46

    PUN07-01    71.0    73.0      2.0       153    0.015      0.31

    PUN07-01    77.0    78.0      1.0       363    0.036      0.73

    PUN07-02    15.0    19.0      4.0        91    0.009      0.18

    PUN07-02    24.0    28.0      4.0       346    0.035      0.69

    PUN07-02    37.0    39.0      2.0      1248    0.125      2.50

    PUN07-02    50.0    51.0      1.0       165    0.017      0.33

    PUN07-02    67.0    68.0      1.0       169    0.017      0.34

    PUN07-02    74.0    78.0      4.0       177    0.018      0.35

    PUN07-03    71.0    72.0      1.0       329    0.033      0.66

    PUN07-04    73.0    74.0      1.0       112    0.011      0.22

    PUN07-05    15.0    19.0      4.0       104    0.010      0.21

    PUN07-05    22.0    23.0      1.0       394    0.039      0.79

    PUN07-05    26.0    34.0      8.0       214    0.021      0.43

    PUN07-06    29.0    32.0      3.0       297    0.030      0.59

    PUN07-07    31.0    33.0      2.0       112    0.011      0.22

    PUN07-08    24.0    31.0      7.0       195    0.020      0.39

    PUN07-09    21.0    28.0      7.0      1893    0.189      3.79

    PUN07-10    19.0    22.0      3.0       200    0.020      0.40

    PUN07-10    26.0    30.0      4.0        81    0.008      0.16

    PUN07-11    22.0    32.0     10.0       282    0.028      0.56

    PUN07-12    23.0    32.0      9.0       405    0.041      0.82
    





For further information:

For further information: Deborah Thiel, V.P., Corporate Development,
Cell: (604) 512-9691, Toll Free: (877) 646-4488, Email:
dthiel@solexresources.com, Website: www.solexresources.com

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