Soltoro Ltd.

Published : May 15th, 2009

ADVISED OF 16 TO 18M OUNCE SILVER POTENTIAL AT EL RAYO OPEN AT DEPTH AND ALONG STRIKE

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FOR IMMEDIATE RELEASE:
May 15, 2009

SOLTORO ADVISED OF 16 TO 18M OUNCE SILVER POTENTIAL AT EL RAYO OPEN AT DEPTH AND ALONG STRIKE

Soltoro Ltd (SOL�TSX:V) has received an independent evaluation on a portion of the Las Bolas structure of the El Rayo Silver-Gold-Lead Project in Mexico. The evaluation demonstrates a minimum target of between 4.2 and 5.6 million tonnes grading between 117 and 100 gpt silver for a potential inventory of between 16 and 18 million ounces silver.

At the El Rayo Project, mineralization has been traced over 5 km within two structures: El Rayo and Las Bolas. In 2008, reverse circulation drilling was carried out on ten 50 metre spaced sections along the 1,700 metre long mineralized Las Bolas structure. Moderate to steeply dipping mineralization was encountered which returned an average thickness of 13 metres grading 119 gpt silver in 40 RC drill holes. An additional RC drill hole was twinned with a prior Diamond drill hole. This RC hole, coupled with an additional Diamond drill hole down dip of it makes up section 11. Mineralization extends from surface, remains open at depth and has not been tested beyond a 100 metre vertical depth. Mineralization is also open along strike in both directions beyond the 650 metre section that makes up the target deposit calculation. The widest intersections of mineralization were located at the bottom of all but 3 sections. The best intersection returned a 90 meter interval of 150 gpt si! lver. Results from the independent target deposit estimate prepared by GeoVector Management Inc. (�GeoVector�) are as follows:


 
Andrew Thomson, President of Soltoro reports: "Our 2008 drill program clearly demonstrates the El Rayo Project has the potential to host an open pit silver deposit. The target deposit calculation is conservative in light of the fact that we have only completed resource drilling on a tenth of the 5 kms of mineralized strike length outlined to date. Metallurgical work is planned prior to resumption of drilling. In addition, an 825 metre long gold zone on the north-west extension of the El Rayo structure is also being considered for drilling."

Historic Resource Potential

In the late 1970�s, the government geological agency (CRM) carried out extensive work programs on the property at the previously producing Catarina, El Rayo, Matachines and Las Bolas mines pursuant to which CRM reported a 7 million ounce silver resource consisting of 1,346,072 tonnes grading 169 gpt silver.  The historic silver resource is centered on the former producing Catarina mine and marginally overlaps the southern extent of the target deposit calculation area. The CRM resource is considered historical and non NI 43-101 compliant. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and it should not be relied upon.

Technical Analysis
GeoVector of Nepean, Ontario was contracted to conduct an independent assessment of the deposit from 41 RC holes drilled in 2008, and 1 Diamond drill hole drilled in 2007. The database includes drill hole locations, orientations, lengths and survey data, down-hole lithology information and assay data for 42 relevant drill holes.

GeoVector calculated a range of potential target deposits at cut-off grades of 40, 50 and 60 gpt silver using a minimum mineralized thickness of 4.5 metres. Mineralized blocks were determined by halving the distance east, west, north and south to the next mineralized drill hole, with a 50 metre maximum radius. In several instances the trend of mineralization was extrapolated up to an assumed surface exposure, and a rough estimate was made of the distance from the drill hole to this surface for the up-dip extent of the block.

The independent report completed by GeoVector concludes �Bolas has excellent potential to increase its tonnage base, both down dip, and along strike. It is conceivable, based on the current drilling and the historical production areas along strike, that expansion drilling could bring the total Bolas structure (approximately 1.7km long) to 25-35Mt @ 100-115 gpt for 90-110 million ounces silver. To test this potential it is suggested that Soltoro should carry out a program of aggressive expansion drilling, looking +/- 100m down dip below current drilling, and on 100-200 meter sections extending along strike in both the northeast and southwest directions.�

The reader should be cautioned that the potential quantities and grades reflected above and in the target deposit potential table are conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource

Future drilling will be focused in and around the Las Bolas target calculation area to test the continuity of the mineralization at depth and along strike in both directions over the entire 1.7 km mineralized strike length. Additional drilling along the El Rayo structure is also being considered to further drill test the gold potential of the property where Diamond drilling returned 37.5 metres of 1.78 gpt gold and 31 gpt silver and to test below the Catarina mine where Diamond drilling returned 12 meters of 269 gpt silver. It should be noted that the El Rayo structure hosts the most significant historic mines and appears to be the more mineralized structure. The Company has yet to test below the highway zone at the juncture of the EL Rayo and Las Bolas structures where surface sampling returned 34 meters of 63 gpt silver in a road cut.

To view sections from the 2008 RC drill program please visit: http://www.soltoro.com/pdf/DS2008RCRAYO.pdf

The Company is seeking quotes to complete metallurgical testing on two separate rock types; 1) oxide silver material from the Las Bolas structure and 2) hematite breccia containing gold from the El Rayo structure. Initial bottle roll testing is planned pursuant to which column testing will be carried out if warranted.

Soltoro is a junior exploration company active in Mexico. The Company is exploring for bulk tonnage gold, silver and copper deposits in Mexico. The Company has a significant joint-venture partner working on its Quila project and in 2008 conducted a resource definition drill program on its El Rayo silver-gold-lead project. Soltoro has 20,215,000 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.

On behalf of the board,
Andrew Thomson, President

Phone: (416) 987-0722 or visit www.soltoro.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

You have received this e-mail because you are a valued contact of Soltoro Ltd.




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Soltoro Ltd.

EXPLORATION STAGE
CODE : SOL.V
ISIN : CA83437F1053
CUSIP : 84437F
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Soltoro is a silver and gold development stage company based in Canada.

Its main exploration properties are QUILA, MARGARITA, VICTORIA, LA TORTUGA, CHINIPAS, SANTUARIO, GAVILAN, COYOTE and EL RAYO in Mexico.

Soltoro is listed in Canada and in Germany. Its market capitalisation is CA$ 23.8 millions as of today (US$ 19.4 millions, € 17.1 millions).

Its stock quote reached its lowest recent point on December 19, 2008 at CA$ 0.03, and its highest recent level on August 05, 2011 at CA$ 1.49.

Soltoro has 75 530 000 shares outstanding.

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Annual reports of Soltoro Ltd.
2008 Annual Report
Financings of Soltoro Ltd.
3/20/2011Announces Acceleration of Warrant Expiry Date to April 19, 2...
Option Grants of Soltoro Ltd.
12/11/2012Grants Options
10/5/2012Grants Options
10/5/2012Grants Options
12/12/2009Issues stock options
9/9/2009APPOINTS ADVISORY BOARD AND ISSUES STOCK OPTIONS
Nominations of Soltoro Ltd.
1/5/2011Adds to Management and Issues Options
Project news of Soltoro Ltd.
1/12/2015(El Rayo)Identifies Additional Gold Zone at the El Rayo Project
7/24/2013(El Rayo)Discovers Talayote Gold Zone With Up to 11.4 gpt Gold at the...
5/8/2013(El Rayo)Discovers New Mineralized Silver Area on the El Rayo Project
6/5/2011(Chinipas)Initiates Drill Program at Chinipas Gold Property in Chihuah...
5/30/2011(El Rayo)Adds Second Drill and Intercepts 4.4 Metres of Silver Bearin...
4/26/2011(Victoria)Finalizes Option of Victoria and Coyote Silver Gold Projects...
4/26/2011(Coyote)Finalizes Option of Victoria and Coyote Silver Gold Projects...
4/20/2011(El Rayo)Drills 7 Metres of 1 Kilogram Silver & 6.9 Metres of 527 GPT...
4/11/2011(El Rayo)Trenching Returns 19.5 Metres of 194 gpt Silver at El Rayo P...
3/31/2011(El Rayo)Drilling Returns 160 Metres of 47 gpt Silver at El Rayo Prim...
3/7/2011(Victoria)Argentum Silver Options Two Silver-Gold Projects From Soltor...
2/14/2011(El Rayo)Drilling Confirms Mineralization Extends to Surface in Main ...
1/21/2011(El Rayo)Resumes Drilling at El Rayo Primary Silver Project in Mexico
12/9/2009(El Rayo)Resource drilling returns 124.5 metres of 60 gpt silver incl...
12/2/2009(El Rayo)Drilling adds 50 metre depth to oxide gold zone and returns ...
11/16/2009(El Rayo)Drilling adds 50 metre depth to oxide silver zone and return...
11/2/2009(El Rayo)Trenching Program at El Rayo
9/1/2009(El Rayo)ANNOUNCES RESOURCE DRILL PROGRAM AT EL RAYO
3/3/2009(Quila)GOLD DISCOVERY ANNOUNCED WITHIN SOLTORO'S QUILA CLAIM CURREN...
12/2/2008(La Tortuga)AND SUMITOMO COMMENCE DRILL PROGRAM AT LA TORTUGA COPPER GOL...
11/26/2008INTERCEPTS AN AVERAGE GRADE OF 119 GPT SILVER OVER 13 METRES...
5/27/2008(La Tortuga)PROVIDES GEOLOGICAL UPDATE ON LA TORTUGA PROJECT
4/11/2008(La Tortuga)SUMITOMO TO FUND DRILLING OF ADDITIONAL PORPHYRY COPPER GOLD...
1/21/2008(La Tortuga)Sumitomo and Soltoro Commence Drilling on La Tortuga Copper ...
11/9/2007(El Rayo)REPORTS ON JV's WITH SUMITOMO AND SOUTHERN SILVER
9/12/2007(El Rayo)Trenching Defines Significant Gold Zone at El Rayo
6/27/2007(El Rayo)Intercepts 269 gpt Silver Over 12 Metres at El Rayo in Mexic...
Corporate news of Soltoro Ltd.
4/10/2015Soltoro Ltd. Announces Acquisition by Agnico Eagle Mines Lim...
4/10/2015IIROC Trading Resumption - SOL
4/10/2015Announces Acquisition by Agnico Eagle Mines Limited
4/10/2015IIROC Trading Halt - SOL
3/5/2015Soltoro Completes Panel Sampling Program on Tecolote Project
2/27/2015Soltoro Completes Panel Sampling Program on Tecolote Project
1/12/2015Soltoro Identifies Additional Gold Zone at the El Rayo Proje...
11/18/2014Soltoro Advances Bulk Tonnage Gold Potential at Tecolote Pro...
11/12/2014Soltoro Files Technical Report on the El Rayo Primary Silver...
11/7/2014Soltoro Ltd. Completes $600,000 Financing
10/20/2014Soltoro Appoints Dr. Glen Masterman to Board
9/29/2014Soltoro Reports Revised NI 43-101 Compliant Silver Resource ...
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8/6/2014Gold Reserve Discontinues Option on Soltoro's La Tortuga Pro...
7/18/2014Soltoro Grants Options, Appoints Advisory Board Member and R...
6/25/2014Soltoro Completes Magnetic Surveys at Tecolote and Quila Pro...
6/12/2014Soltoro Receives $150,000 Option Payment from Gold Reserve
5/26/2014Soltoro Trenching Extends El Rayo Gold Zone 70 Metres to Nor...
4/30/2014Soltoro Provides Gold Reserve with 6 Month Work Extension at...
4/2/2014Soltoro Initiates Ground Magnetics & Trenching to Define Gol...
10/22/2013Partner Completes Aeromagnetic Survey and Reports Significan...
9/26/2013Equity/Royalty Partner Extends Strike of El Tajo Vein and Tr...
9/11/2013Expands the Gold Potential of the Tecolote Project in Jalisc...
6/25/2013Underground Sampling Returns 11.57 Metres of 449 GPT Silver,...
6/17/2013Channel Sampling Returns 3 Metres of 14.16 GPT Gold and 308 ...
5/24/2013Equity/Royalty Partner Clarifies and Retracts Previously Iss...
5/13/2013Equity/Royalty Partner Advised of 4-5 Million Ounce Silver P...
5/1/2013(La Tortuga)Gold Reserve Completes $125,000 Option Payment to Soltoro in...
11/14/2012Equity/Royalty Partner Intercepts 2.90 Metres of 499 GPT Sil...
10/25/2012Equity/Royalty Partner Intersects 1.95 Metres of 854 gpt Sil...
10/18/2012Equity/Royalty Partner Intercepts 11 Metres of 288 gpt Silve...
9/14/2012Sampling Returns 5.3 gpt Gold & 40 gpt Silver Over 3.4 Metre...
7/19/2011Closes $4.5M Financing With Coeur d'Alene Mines
7/12/2011Announces $4.5M Financing With Coeur d'Alene Mines
6/21/2011Intercepts Near Surface High-Grade Silver in 4 Drill Holes I...
6/14/2011(El Rayo)Reports NI 43-101 Compliant Silver Resource at the El Rayo P...
1/17/2010$2,100,000 financing
1/13/2010Resent: Vancouver Conference is this Sunday Jan 17th & Monda...
11/6/2009Is Attending the International Precious Metals & Commodities...
8/7/2009TSX Exclusive interview with Soltoro's CEO Andrew Thomson
7/6/2009COMPLETES $1,350,000 FINANCING
6/26/2009CLOSES FIRST TRANCHE OF FINANCING FOR $894,000
6/6/2009ANNOUNCES $750,000 FINANCING
5/15/2009ADVISED OF 16 TO 18M OUNCE SILVER POTENTIAL AT EL RAYO OPEN ...
2/11/2009PARTNER ENDS JOINT VENTURE CITING GLOBAL DOWNTURN
9/19/2008RESOURCE DRILLING PROGRAM INTERCEPTS 90 METRES OF 150 GPT SI...
6/17/2008Begins Resource Definition Drill Program at El Rayo Silver-G...
5/28/2008ACQUIRES COYOTE SILVER-GOLD PROJECT IN JALISCO, MEXICO
5/6/2008RELEASES YEAR ENDED DECEMBER 31, 2007 RESULTS
3/28/2008Receives Notice Southern Silver Proceeding With Second Year ...
11/28/2007COMPLETES ADVANCE ROYALTY PAYMENTS ON PORTION OF EL RAYO PRO...
9/27/2007BEGINS DRILLING ON BACANORA GOLD PROJECT
9/20/2007INTERCEPTS 6 METRES OF 6.08 GPT GOLD & 19.5 METRES OF 187 GP...
8/23/2007Releases 2007 Q2 Results
6/5/2007Commences Deep Drilling on El Rayo Silver Property in Mexico
5/31/2007Releases 2007 Q1 results
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