TORONTO, ONTARIO — (Marketwired) — 09/29/14 — Soltoro Ltd. (TSX VENTURE: SOL) has received a revised independent resource estimate on its 100% owned El Rayo silver project in the State of Jalisco, Mexico. The NI 43-101 compliant resources were estimated by Agnerian Consulting Ltd. („AC“), and includes an updated estimate of the Las Bolas deposit, the La Soledad deposit and a first time disclosure of the Mineral Resources of the historic Catarina mine. The revision considers a smaller tonnage, higher grade resource that could be exploited through a combination of small open pit and underground operations.
The Mineral Resources were prepared in compliance with NI 43-101 and CIM standards by AC by constructing block models and applying a conceptual open pit and underground models on each of the deposits. The estimates of open pit and underground resources are shown in the tables below:
Soltoro President and CEO, Andrew Thomson comments: „The updated silver resources are in line with the lower silver pricing of the last two years and include lead along with revised metallurgical recoveries. This higher grade silver resource will allow Soltoro to move forward with completing a Preliminary Economic Assessment at current commodity pricings. Soltoro has only scratched the surface of the exploration potential in the Guachinango district. Agnico Eagle Corp. recently announced its plan to invest $15M on the nearby El Barqueno project, which is contiguous to the El Rayo property to the northwest.“
QUALIFIED PERSONS
A copy of the NI 43-101 Technical Report will be available on the SEDAR website within 45 days of this news release. The mineral resources were estimated by Mr. Michael Waldegger. P. Geo. of MFW Geoscience Inc., on behalf of Agnerian Consulting Ltd. (AC). Both Messrs Hrayr Agnerian, M.Sc. (Applied), P.Geo., President of AC. and Waldegger are Qualified Persons for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr. Agnerian has reviewed and verified the information disclosed in this news release.
ABOUT SOLTORO
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 30,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds a 3% N.S.R. payable on Argentum Silver–s Victoria and Coyote properties. Soltoro has 69,533,037 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol „SOL“.
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. 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.
Contacts: Soltoro Ltd. Andrew Thomson President (416) 987-0722
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