February 28, 2012 – Soltoro Ltd. (TSX.V – SOL) recently completed seven diamond drill holes beneath the historical mine workings in the Catarina zone. Thefocus in the Catarina mine area was to confirm the historic resource defined in the 1980s by the Consejo de Recursos Minerales (CRM), the equivalent of the Mexican geological survey. The historic Catarina mine and associated workings can be traced for roughly 500 metres along strike and high grade silver mineralization has been encountered to a depth of 125 metres. From 1978 through 1981 the CRM carried out extensive surface trenching, underground sampling and development work, as well as surface and underground drilling. This work resulted in the definition of a 1,346,072 tonne resource grading 169 g/t silver. This historic resource is non-NI 43-101 compliant and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Soltoro is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. Drill results from Soltoros program were returned as follows:
DEPOSIT AREA: | DRILL HOLE: | FROM: | TO: | WIDTH1 (m): | Ag | Au |
Catarina | Ray11-107 | 100.8 | 103.3 | 2.5 | 22 | 0.218 |
| | 108.0 | 110.3 | 2.3 | 37 | 0.058 |
| | 113.5 | 118.5 | 5.0 | 28 | 0.198 |
Catarina | Ray11-109 | 65.02 | 67.1 | 2.1 | 5 | 0.037 |
| | 130.0 | 131.0 | 1.0 | 22 | 0.013 |
Catarina | Ray11-110 | 129.5 | 134.3 | 4.8 | 25 | 0.027 |
Catarina | Ray11-111 | 82.2 | 85.5 | 3.3 | 35 | 0.004 |
| | 148.33 | 174.1 | 25.8 | 52 | 0.045 |
| including | 166.5 | 169.5 | 3.0 | 223 | 0.187 |
| | 178.5 | 186.0 | 7.6 | 53 | 0.051 |
Catarina | Ray11-112 | 99.9 | 101.9 | 2.0 | 171 | 0.98 |
| | 129.0 | 133.5 | 4.5 | 86 | 0.002 |
| | 144.0 | 147.0 | 3.0 | 88 | 0.002 |
| | 189.0 | 209.9 | 20.9 | 73 | 0.080 |
| including | 189.7 | 199.5 | 9.8 | 119 | 0.139 |
| including | 198.0 | 199.5 | 1.5 | 266 | 0.263 |
Catarina | Ray11-114 | 10.5 | 25.2 | 14.7 | 22 | 0.003 |
| | 55.5 | 59.3 | 3.8 | 22 | 0.011 |
| | 153.3 | 157.0 | 3.7 | 66 | 0.005 |
| including | 153.3 | 154.5 | 1.2 | 139 | 0.007 |
| | 202.5 | 219.0 | 16.5 | 31 | 0.061 |
| including | 211.5 | 219.0 | 7.5 | 47 | 0.064 |
| | 229.5 | 231.8 | 2.3 | 51 | 0.029 |
Catarina | Ray11-118 | 145.5 | 151.2 | 5.7 | 24 | 0.003 |
1 All intersections are reported as drilled thickness.
2 Overall recovery for this interval is 82%. Recovery for the interval 66.0 m to 67.1 m is 73%.
3 Overall recovery for this interval is 93%. Recovery for the interval 169.5 m to 171.0 m is 67%.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: At El Rayo the focus has been on defining open-pit silver resources along 3.5 kilometres of mineralized structures including the Catarina mine area. This round of drilling at Catarina was conducted 125 metres below the historically mined stopes. Results would indicate gold grades are increasing with depth below the historically mined silver zone and further exploration is warranted to investigate the underground mine potential for gold and silver. Drilling below the adjacent Aguacero mine is underway to better understand the geology of the area.
A longitudinal map may be viewed at: http://www.soltoro.com/projects/pdf/DHFeb27Catarina.pdf
The historically mined quartz-breccia veins were intersected at a depth of approximately 200 metres below surface in six of the seven holes. These main zone intersections were characterised by higher contents of both copper and lead. In addition, five of these holes intersected mineralized zones in either the hanging-wall (four) or footwall of the historically mined mineralization. Three of the six holes intersected significant mineralization of over 100 g/t Ag.
Three holes contained higher gold grades (greater than 0.1 g/t) than recorded in previous shallower drilling at Catarina by either the CRM or Soltoro. Slightly higher gold grades occur below historical workings and past exploration, beginning 100 to 180 metres below the surface. This incremental increase in gold grade corresponds with an increase in the copper content of the intersections. The deeper zone of mineralization is open at depth and along strike to the east towards the Aguacero mine area where Soltoro has recently undertaken additional drilling. One hole (Ray11-118), drilled at the west end of the historical workings, in an area of narrow discontinuous lenses, failed to intersect the main or peripheral mineralized zones
Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed using a 30g fire assay with AA finish while the silver is analyzed using a four acid near total digestion package. Mr. Steven T. Priesmeyer, C.P.G., Vice President of Exploration for Soltoro Ltd. and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.
About Soltoro
Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company has two diamond drills operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. Soltoro has optioned several of its properties in Jalisco State. The Company is seeking partners to advance its Chinipas, La Tortuga, El Santuario and Peña Grande projects. Soltoro has 58,948,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL. Coeur dAlene Mines Corp. holds 4.5 million shares of Soltoro Ltd.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Thomson, President
Phone: (416) 987-0722 or visit www.soltoro.com.
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
