Solid Resources Releases Grab Sample Assay Results Of Up To 30 g/t Gold on Perú Property

VANCOUVER, Feb. 17 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") (TSXV: SRW) (Frankfurt: YRS) is pleased to report assay results from its optioned 1,000 hectare Gold and Copper concession in the Province of Ayabaca in northwest Perú.

An option agreement covering the 1000 hectare concession in Suyo Township, Ayabaca Province near the city of Piura in northwestern Peru was announced on June 4, 2010. Under the terms of the option agreement, Solid has the right to purchase the licence, during the three-year term, by paying the optionor a total of $500,000 (U.S.), to be paid in tranches over the course of the period ending in December, 2012. The Company has completed the cash payment requirements to the optionor for 2010 and 2011.


The 1,000 hectare gold and copper concession is situated just 30 km south of the Ecuadorian border and 1200 km northwest of Lima with good access and weather conditions. The property is situated along the coastal range (Cordillera Del Condor) of Peru and Ecuador hosting the most important gold-bearing areas in Ecuador and Peru since pre-Inca times.

Geology and Mineralization

The geology consists of Cretaceous volcanics and related tuffs cut by northeast-southwest shear zones hosting gold and copper sulphides. Forty grab samples from random outcrops were collected over the previous two years within this 1.5 km length structural belt by two professional geologists associated with the previous optionor. This returned gold values ranging from 0.05 to 30 g/t gold and copper values from 0.1 to over 1% copper/t. The assays defined several broad areas of gold and base metal anomalies.  Small scale hand mining has been carried out in the past by local prospectors and no drilling has been reported on this property to date. Modern exploration on the Ecuadorian side of the border has recently delineated a number of world class gold and copper deposits. A scout drilling program from a minimum of 500 meters of core is strongly recommended on this property, based on the very encouraging gold and copper assays from the preliminary grab sampling of a strong shear structure.


Certificate of Analysis # LIM09000269 reports the assays on the 40 grab samples by Acme Analytical Laboratories, Santiago, Chile and stipulates the quality control measures. The samples were crushed and pulverized to 200 mesh and subjected to standard gold fire assay with gravimetric finish and ICP Aqua Regia Digestion.

Qualified Person

John R. Goodwin, MSc, P. Geol, an independent qualified person as defined by National Instrument 43-101 has reviewed the reports, the statements of the previous optionor and Acme Laboratories Certificate of Analysis dated October 4, 2009 and has approved the technical disclosure in this news release.

"These are very encouraging early results," stated Mr. Greg Pendura, President and CEO. "We are in the process of obtaining the necessary permitting to initiate phase one of our exploration program."

The Company would also like to announce that it has launched its new website, which will highlight the developments for its current 2011 Drill Program on the Doade-Presqueira Rare Metals property in Spain.

About Solid Resources:

Solid Resources is a Canadian junior mining company focusing on the exploration and development of rare and precious metals and industrial commodities worldwide. The Company is currently quantifying the presence of tantalum, tin, lithium and other rare minerals on its property in north-western Spain. In addition, further exploratory work is being conducted on its gold, copper concession in the Province of Ayabaca in northwest Perú.

Certain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as "could", "should", "expect", "believe", "will" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, silver and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid's filings with the Canadian Securities Regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Solid Resources Ltd.

For further information:

Solid Resources Ltd
Greg Pendura
President & CEO
Solid Resources Ltd.
Ph: (780) 800-0726
              The Howard Group Inc.
Investor Relations
Dave Burwell
Toll Free: 1-888-221-0915
Ph: (403) 410-7907

Profil de l'entreprise

Solid Resources Ltd.

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