|
Soltoro Ltd. (TSX VENTURE:SOL
- News) is pleased to
announce that Mr. Steven Priesmeyer has joined the
Company as Vice President of Exploration. Mr. Priesmeyer
is an established geologist with 25 years of experience operating in Latin America
managing exploration programs and developing projects. Mr. Priesmeyer will be responsible for proving up a minable
resource at the El Rayo Primary Silver Project and
continued development of the Company's extensive portfolio of properties.
Previously Mr. Priesmeyer served as Exploration
Manager for Monarch Resources Ltd. in Venezuela and Argentina, and worked for
Santa Cruz Gold Mines Inc., Queenstake Resources Ltd. and MinCore
Inc. in Mexico. During this time, he managed exploration for the advanced-stage
Magistral gold deposit and the Tameapa
copper-molybdenum porphyry deposit, both in Mexico. Mr. Priesmeyer
has been involved in all aspects of exploration from grassroots through
feasibility stage, including minesite exploration.
He has a Master's degree in Geology, is a Qualified Person as defined by NI
43-101 and speaks Spanish.
Mr. Patrick Toth, P.Geo., has joined the Company as Vice President of Operations
in Mexico. Mr. Toth is an established geologist
with 15 years of experience operating in Latin America; specifically
Argentina, El Salvador, Honduras, Nicaragua and Mexico. Mr. Toth will be responsible for project management and
development of the El Rayo Primary Silver Project
to include overseeing CSR community relations and Quality Assurance and
Control programs for all of Soltoro's projects.
Previously Mr. Toth served as Exploration Manager
for Aura Silver Resources Ltd. and Senior Project Geologist for Intrepid
Mines Ltd. and VenCan Gold Corp. Mr. Toth has strong management and organizational skills and
has worked on projects ranging from grass roots exploration programs to
detailed resource delineation. He has a B.Sc. in Geology, is a Qualified
Person as defined by NI 43-101 and speaks Spanish.
Mr. Alvaro Lopez Picos has been promoted to Vice President Exploration in
Mexico. Mr. Lopez has 22 years experience exploring in Mexico. Mr. Lopez's
new responsibilities will include prioritising Soltoro's exploration projects beyond the El Rayo Primary Silver Project and carrying out further
geological programs to attract suitable joint venture partners. Previously
Mr. Lopez served as Senior Geologist in for Cominco, Kennecott, Western
Silver Corp. and Apex Silver Mines Ltd. exploring for gold, silver, base
metals and porphyry copper deposits in Mexico. While with Western Silver
Corp., Mr. Picos was Project Manager for the start
up and development of the Penasquito deposit. Mr.
Lopez has a degree in Geology and is a Mexican resident.
Andrew Thomson, President
and C.E.O., stated: "Soltoro continues to add
key management in order to further develop the El Rayo
Primary Silver deposit. The Company expects to complete a revised NI 43-101
resource estimate in the first quarter of 2011 which will include all of the
deeper drilling conducted in 2010. A 15,000 metre
drill program for El Rayo has been outlined for
2011. The Company continues to seek partners for its other projects."
Soltoro Ltd. reports that on January 4,
2010, subject to regulatory approval, it has granted incentive stock options
to directors, officers and consultants of the Company. A total of 1,935,000
options were issued exercisable at a price of $0.59 per share for a period of
three years. All options granted are subject to vesting under the Company's
stock option plan.
About Soltoro:
Soltoro is engaged in exploration for
bulk tonnage gold and silver deposits in Mexico. The Company continues to
develop its El Rayo silver-gold project to expand
the existing NI 43-101 compliant primary silver resource. Soltoro
has also recently completed a mapping and sampling program at its Pena Grande
project and is actively advancing its Victoria, Quila,
Tortuga, Chinipas and El Santuario
projects. Soltoro has 45,559,348 shares outstanding
and trades on the TSX Venture Exchange under the symbol SOL.
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.
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.
Contact:
Andrew Thomson
Soltoro Ltd.
President
(416) 987-0722
www.soltoro.com
|