FOR
IMMEDIATE RELEASE:
November 27, 2007
SOLTORO
COMPLETES ADVANCE ROYALTY PAYMENTS
ON PORTION OF
EL RAYO PROPERTY
Toronto, Ontario:
On November 23, 2007, Soltoro Ltd. (SOL: TSX.V) entered into an agreement to
issue 100,000 common shares of Soltoro Ltd. to Fury Exploration Ltd. (?Fury?) in
lieu of two cash advance royalty payments totaling US $75,000 due in the next
year. Under this agreement Soltoro has no further obligations or commitments to
Fury beyond a 2% Net Smelter
Return royalty on the ?Guachinango
1? property. Soltoro has the right to
purchase 1.5% of the Net Smelter Return royalty for US $1,500,000. The share issuance is subject to TSX Venture
Exchange approval.
The 6,200 hectare ?Guachinango 1? property
was acquired on November 24, 2006 and is contiguous to Soltoro?s 3,848 hectare
El Rayo property. Soltoro has completed sampling, mapping and two exploration
drill holes on the Guachinango 1 claim to date. While no significant
mineralization was encountered in drill intercepts, mapping and sampling along
the north eastern extension of the Las Bolas structure and numerous untested
geophysical targets, warrant continuing with exploration of the Guachinango 1
property.
Soltoro is completing a topographic survey
along the El Rayo and Las Bolas structures primarily within the historic resource area located at El Rayo prior to commencing resource drilling. The
extension of the Las Bolas structure beyond this area onto the Guachinango 1
property will be tested as exploration continues at El Rayo. The Company plans
to contract a percussion drill to begin to delineate the resource. Drilling is
expected to begin within the next 3 months.
Soltoro is a junior exploration company active in
Mexico. The Company has 20,115,000
shares outstanding, prior to approval of the above noted transaction. The
Company is exploring for bulk tonnage gold, silver and copper deposits in
Mexico. Soltoro?s shares trade on the
TSX Venture Exchange under the symbol SOL.
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.