FOR
IMMEDIATE RELEASE:
April 10, 2008
SUMITOMO TO
FUND DRILLING OF ADDITIONAL PORPHYRY COPPER GOLD TARGETS AT SOLTORO?S LA
TORTUGA
PROJECT
Toronto, Ontario: Soltoro Ltd
(SOL:TSX.V) completed a 2,005 metre
Diamond drill program testing for a porphyry copper gold deposit along the
Papagayo ridge on its La Tortuga project in Jalisco, Mexico in March of 2008. Core cutting is near
completion with core being submitted for assaying. La Tortuga is an 11,562 hectare property being investigated
for a copper-gold porphyry deposit. Widespread copper mineralization occurs over
49 square kilometres.
La
Tortuga is under joint venture to Sumitomo Metal
Mining Exploration (?Sumitomo?) whereby Soltoro will remain the operator of the
project until Sumitomo has earned a 51% interest. Sumitomo may earn a 51%
interest in the property by making expenditures of US $4,000,000 then earn an
additional 19%, for a total of 70%, by making an additional investment of US$
16,000,000 or by delivery a bankable feasibility study.
Andrew Thomson, President of Soltoro reports: ?The next
phase of drilling is designed to test other regional porphyry targets on the
property while we await assay results from the Papagayo ridge area. Sumitomo?s
involvement in the project is providing a systematic and thorough approach to
locating and testing for a large porphyry copper gold deposit at La
Tortuga.?
Sumitomo
has completed the first year earn-in expenditure requirement of US $500,000
which included mapping, sampling, a pole-dipole Induced Polarization (I.P.)
study and a 2,005 metre Diamond drill program. A budget to expend an additional
US$ 750,000 has been approved. During this phase of the program drilling will
test porphyry targets with mapping and sampling to be carried out in the Las
Garochas and Lauralito zones. A
total of 140 soil samples have been collected to date in the Lauralito area on
the south-east end of La Tortuga along a series of lines cut to carry out
an
I.P. survey. The survey will cover more than 30 kilometres
pursuant to which the next Diamond drill program will be planned. Numerous tourmaline breccia zones have been
located in the Lauralito area associated with potassically altered granite and
epithermal copper mineralization. The
I.P. survey at Lauralito is scheduled to commence within two weeks and Soltoro
geologists will begin additional mapping and sampling of the Las Garochas mine
area at that time.
Soltoro is a junior exploration company focused on
exploration for bulk tonnage gold, silver and copper deposits in
Mexico. The Company has 20,215,000
shares outstanding and trades on the TSX Venture Exchange under the stock 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.