VANCOUVER, June 14 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT)
(the Company) has recently purchased 100% interest in 17 units in the Webb
Township at a cost of 100,000 common shares from the property vendor. These
newly acquired claim units are contiguous with the original Lateral Lake claim
units and will command the focus of further study. These claims are located
within two kilometers of an all-weather road, approximately 30 kms northeast
of Dryden, Ontario. The original Lateral Lake claims contain the extension of
the Lateral Lake Fault which is known to contain Molybdenum and Copper within
a biotite-quartz gneiss or pegmatitic dykes.
These claims have been the focus of several past work programs. Most
recently two diamond drill holes were drilled in August of 1999 for a total of
337 feet. Hole No. 1 started in pegmatite at surface and ended at 119 feet.
The average grade of Rubidium in Hole No.1 was 1353 ppm over the entire
119 foot intercept. Hole No. 2 intercepted the pegmatite from 47 feet and
terminated in Rubidium-rich feldspar at 182 feet, remaining open at depth. The
average grade of Rubidium in Hole No. 2 was 1243 ppm over the 135 foot
intercept (Refer to the OPAP 99-079 Final report issued January 3, 2000 by
The primary use for Rubidium is in specialty glasses used in fiber optic
telecommunication systems. Rubidium's photoemissive properties have led to its
use in night-vision devices, photoelectric cells, and photomultiplier tubes.
There are several other uses for Rubidium.
Since Rubidium is not traded, no market price is available. However in
2006, one company offered 1-gram ampoules of 99.75%-grade rubidium (metals
basis) at $58.20 per gram, and the price for 100 grams of the same material
was $1,118.00. This information was collected from the UGSG minerals
Solitaire Minerals has prepared an eight hole diamond drill program
totaling approximately 700 meters to target this know zone of Rubidium. The
area of the two "historical" holes will be drilled and the strike extensions
of the pegmatite tested. Canadian Driller Training Ltd. will commence the
diamond drill program during the week of June 18th, 2007.
Mr. Garry Clark, P.Geo, the Qualified Person on the Lateral Lake
property, has approved this release.
The Company would also like to announce that pursuant to its stock option
plan, the Company has granted incentive stock options to its directors,
officers, consultants and employees to purchase in the total of 1,700,000
common shares in the capital stock of the company exercisable for a period of
two years, at a price of $0.15 cents per share. These options are subject to a
four-month hold period.
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. Also in the NWT, the Company acquired
the Eldorado 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: For additional information please contact
Solitaire Minerals Corp. or visit www.solitaireminerals.com.