Solex Resources Corp. announces drilling on Macusani South Project underway



    VANCOUVER, Aug. 12 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today announced that the Company has commenced drilling on its
wholly owned Macusani South Project in the Macusani Uranium District of
Southern Peru.
    The drilling program at the Pichuni and Socclla targets will consist of a
maximum of 80 diamond drill core holes (HQ diameter), from 20 drill pads, to a
depth of at least 30 metres, or to a depth determined by downhole probing. At
least 2 holes are planned to a depth of 250 metres to test for deeper systems
that cannot be determined by surface work. In addition, community approval has
been granted and ratified for this work and drill permits, the first under new
Ministry of Mines of Peru regulations governing uranium, have been received.

    
    The drilling program on these two targets has been designed with the
following objectives:

    -   To investigate the extension, geometry and controls of the uranium
        mineralisation in three dimensions as well as to define the uranium
        content and grade distribution within these mineralised horizons;
    -   To obtain 3D geological information to aid in the development of
        geological and exploration models that can be used in the assessment
        of the remainder of Solex's 100% owned extensive property holdings in
        the Macusani Uranium district which exceed 42,400 hectares and where
        identified uranium anomalies are not found in outcrops; and
    -   To delineate an area to extract a representative sample of at least
        six tonnes of mineralised rock that will be used in a metallurgical
        test programme.
    

    "The Macusani South Project represents the potential to host a
significant uraniferous resource," said Jonathan Challis, President and CEO of
Solex Resources. "With the drill program underway, we remain on track with our
exploration strategy and one step closer to uncovering the potential of the
property."

    About the Macusani South Project

    The Macusani South Project is the most accessible of the Company's
100%-owned projects. covering 4,700 hectares. The mineralisation is hosted by
ignimbrites of the Upper Yapamayo Member of the Quenamari Formation. Extensive
surface work on the property including a ground radiometric survey with line
spacing of 100 metres (and in specific areas, 50 metres) was completed by Val
d'Or Geophysica, complemented by extensive handheld scintilometer readings and
a widespread systematic and grid based trenching and pitting programme. A
total of 377 geochemical samples were taken with a maximum reported value of
0.272% U3O8. The identified uranium minerals include autunite, torbenite and
meta-autunite.

    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). In excess
of $11 million has been spent on the Company's Macusani East joint ventured
uranium project. The Company is also aggressively exploring its three 100%
owned Macusani uranium projects. A NI 43-101 report has recently been filed on
the Princesa silver, lead and zinc property and further field work has been
completed on the Pilunani lead and zinc project with a report due in August.

    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.




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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SOLEX RESOURCES CORP.

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