VANCOUVER, March 19 /CNW/ - Solitaire Minerals Corp. (TSX-V: SLT) is
pleased to announce that it has applied for drilling permits for the Riou Lake
Property, located within the Athabasca basin, Saskatchewan. It has been
determined that the seasonal "break up" will not affect the drill target
zones, so drilling will begin shortly after permit approval. The proposed
drill program will encompass a minimum of 4000 meters with all targets to be
collared on dry land south of Riou Lake and concentrated near the centre of
the Soil Gas Hydrocarbon anomalies designated by Actlabs as the "Primary
Target" and "Secondary Target", in conjunction with other geochemistry from
The Primary Target Area is 3 km long and the Secondary Target Area is
2 km long. The furthest eastern anomaly (The Primary Target) also coincides
with a possible zone of alteration suggested by a magnetic low along the
Escarpment Fault and one sample from a stream exiting the escarpment yielding
9.4 ug/litre (micrograms per litre) of Uranium which is anomalous. Four other
water samples taken from other locations on the Property had an average value
of less than 0.1 ug/litre.
Solitaire Minerals has retained the services of The Richmond Club Corp.
("Richmond Club") of Toronto, Canada, to provide investor relations services
for the Company, subject to TSX Venture Exchange approval.
The Richmond Club is a media company that showcases 3-4 companies that it
feels, have an excellent chance of out-performing the market over a 1-2 year
period, at its monthly luncheon meetings. These companies are showcased to The
Richmond club's 612 members, through its website and at investor luncheon
meetings. Richmond Club members are a mixture of brokers, fund managers
analysts and high net-worth investors. Monthly luncheon meetings are held in
Toronto at the National Club, at Bay & King Street and are free of charge to
brokers, fund managers, analysts and high net-worth investors. Richmond Club
will receive a monthly fee of $1,450 and will be granted 118,000 stock options
vesting 25% now and every three months during the first 12 months at an
exercise price of $0.29 per share. The term of the investor relations contract
with the Richmond Club is one year.
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.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
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.
For further information:
For further information: please contact Solitaire Minerals Corp. or