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Solitaire Minerals Corp.: Solitaire Minerals Corp. and Ashburton Ventures Inc. Evaluate the Results of the Induced Polarization

^{Published on 2009-09-29 10:06:19 - Market Wire}
 

VANCOUVER, BC--(Marketwire - September 29, 2009) - Solitaire Minerals Corp. (TSX-V: [ SLT ]) (Solitaire) and Ashburton Ventures Inc. (TSX-V: [ ABR ]) (Ashburton) would like to announce that results from the Induced Polarization Survey have now been received by their consultant for the Chukuni Property in Red Lake, Ontario. Compilation of the data has identified five potential drill targets based on coincidental chargeability/resistivity anomalies. The potential targets include chargeability/resistivity zones in the interpreted fold nose of the Howey Diorite, the Diorite/Mafic Volcanic contact plus sulphide bearing zones within the Mafic Volcanic unit to the north of the Howey intrusive.

A follow-up work program is now underway that will allow for the prioritization of the targets via prospecting over the geophysical anomalies. Where outcrop is lacking, soil sampling will be undertaken to evaluate the anomalies.

The Chukuni property lies 3.5 km south of Goldcorp's Red Lake-Campbell Mine Complex, currently one of Canada's largest and richest Archean gold deposits. Goldcorp's Red Lake-Campbell Mine Complex produced 629,000 ounces of gold in 2008.

Ashburton has an option agreement with Solitaire to acquire a 60% interest in the Chukuni Property consisting of 3 claims, covering 2,035 acres in the Red Lake Mining District of Ontario.

Mr. Andrew Tims, P.Geo will be operating as the Ashburton's qualified person under National Instrument 43-101. Mr. Andrew Tims has reviewed the technical content of this news release and confirms its accuracy. Mr. Andrew Tims is independent of Ashburton.

Red Lake North Update

In a recently signed Addendum involving the Red Lake North claims, Rubicon Minerals Corp. has agreed to make all remaining work exploration expenditures due prior to May 1, 2011. Once Solitaire has fulfilled its obligations, the parties will cooperate to enter into a definitive joint venture partnership, in which, Solitaire Minerals Corp. will hold a 55% interest in the Red Lake North claims.

About Solitaire Minerals Corp. (TSX-V: [ SLT ]) is a diversified Junior Canadian Mineral Exploration Company with a specific focus on precious and base metal properties in North and South America. The Company has assembled exploration projects in Ontario, Saskatchewan, the Northwest Territories, Quebec, British Columbia, and in southern Peru.

For additional information please contact Solitaire Minerals Corp. or visit [ www.solitaireminerals.com ].

 On Behalf of the Board of Directors SOLITAIRE MINERALS CORP. "Charles Desjardins" Charles Desjardins, President and Director 

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.

Cautionary note:

This report contains forward-looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.