Wednesday, February 28, 2007 1: 32 PM
Solitaire Minerals Corp. (TSX VENTURE: SLT)(OTCBB: SREMF) (the Company) announces that Activation Laboratories (ActLabs) located in Ancaster, Ontario, has provided the Company with an interpretation of the Soil Gas Hydrocarbon (SGH) analyses on a grid of soil samples collected from the Company’s Riou Lake project in the Athabasca Basin of northern Saskatchewan.
Samples from the Main Grid,which where taken along the previously identified 8 km long escarpment fault (the escarpment is 8 km; the fault can be traced at least 12km) produced two strongly anomalous areas which Actlabs believe indicate a” Very High Probability” of a Uranium target at depth. This is the highest level of detection possible under the SGH Rating System under which there are 6 categories ranging from a “Low Probablilty” rating to a “Very High Probability” rating. A “Very High Probabilty” rating means that the SGH classes most important to describing a Uranium signature are all present and consistently describe the same location with well defined anomalies. To obtain this rating there also needs to be other SGH classes that when mapped lend support to the prediction location.
The SGH class signature in the exploration for a Uranium target is primarily made up of heavier SGH classes of compounds. The Actlab interpretation method and definition of the SGH Uranium signature has been developed through research since 1997 by Actlabs, including analysis of case studies, especially from the two Canadian Mining Industry Research Organization projects (CAMIRO 97E04 & 01E02) as well as research conducted by the Ontario Geological Survey (OGS).
The three primary Uranium indicator classes resulted in apical style anomalies in two areas of the main grid. These areas replicated exceptionally well across the three SGH indicator classes which means that the interpretation at this site was very definitive. Thus, due to the agreement across the SGH Uranium indicator classes, there is a “Very High Probability” of Uranium targets at the Primary and Secondary target areas shown at the main grid. The Secondary target is only slightly less in quality of agreement and may actually have the same characteristics as the Primary Uranium target area. In this interpretation, the best drill targets are most likely to coincide with the centre of the high SGH anomaly areas within the Primary and Secondary target zones.
Jim Kermeen, M.Sc., P.Eng., the Company’s consultant and Qualified Person for this release notes that these two anomalies lie along the east-west Escarpment Fault where it is intersected by north-south faults interpreted from the airborne Megatem time domain electromagnetic and magnetic survey flown by Fugro Airborne Surveys and further analyzed by Condor Consulting Ltd. The centers of the two anomalies lie approximately 5 km apart and constitute two separate target areas. 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.
Please visit the following link to observe the image of the Primary and Secondary targets: http://www.solitaireminerals.com//pdf/exploration/slt_riou_targets.pdf
These two areas would appear to be excellent drill targets. However, final selection of drill sites is contingent upon completion of an interpretation of considerable additional geochemical data which is expected shortly.
Although the Company has received several joint venture offers, the Company has chosen to work the 100% owned Riou Lake North and South Properties and the 90% owned Riou Lake Center Property independently through the first drilling phases.
Solitaire Minerals has contacted several companies which have drills available to do the necessary work in the Athabasca basin.
Upcoming PDAC 2007
Solitaire Minerals would also like to announce that the Company will be exhibiting at the upcoming PDAC Investors Exchange – Mining Investment Show. Please visit our Booth #4401 on March 6-7th for updates on our exciting properties.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. (TSX VENTURE: 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.
Charles Desjardins, President and Director
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Solitaire Minerals Corp. Charles Desjardins President and Director (604) 683-5445 (604) 687-9631 (FAX) Email: [email protected] Website: www.solitaireminerals.com
SOURCE: Solitaire Minerals Corp.
mailto: [email protected] http://www.solitaireminerals.com