Mr. Andrew Thomson reports

SOLTORO DISCOVERS NEW MINERALIZED SILVER AREA ON THE EL RAYO PROJECT

Soltoro Ltd. has discovered a previously unknown mineralized silver zone, known as the Mascotas zone, on the northern portion of the El Rayo silver project located in Jalisco, Mexico. The Mascotas zone was discovered during routine geologic mapping as part of Soltoro's systematic exploration of the El Rayo land package. The Mascotas mineral system consists of at least five separate mineralized structures occurring within an area extending 600 metres northeast by 800 metres northwest. The Mascotas mineral system is located approximately five kilometres north-northeast of the main silver deposit area. There are no known historic mines in the area and few prospect pits.

A total of 59 samples were collected during the first phase of sampling, nine contained silver grades greater than 100 grams per tonne silver, and 12 contained silver grades between 50 g/t Ag and 100 g/t Ag. The highest silver grade obtained during this phase of work was 264 g/t Ag. Results are shown in the table.

                            EL RAYO SAMPLING RESULTS

Target area        Sample type       Width            Au     Ag     Pb     Zn
                                        (m)         (g/t)  (g/t)    (%)    (%)

Mascotas 3         Chip-channel       5.60          0.15     57   1.75   0.11
including                             3.05          0.28     85   3.15   0.14
Mascotas 3         Chip-channel       6.35          0.01     45   0.03   0.11
including                             2.35         <0.01     73   0.03   0.12
Mascotas 3         Chip-channel       2.75          0.03    106   0.23   0.08
Mascotas 3         Chip-channel       3.73          0.26    105   3.04   0.10
Mascotas 3         Chip-channel       0.80          0.52     49   0.21   0.05
Mascotas 3         Chip-channel       1.10          0.22     44   0.10   0.02
Mascotas 3         Chip-channel       0.65          0.01    137   0.08   0.03
Mascotas 3         Chip-channel       0.80          0.06    119   0.23   0.09
Mascotas 3         Chip-channel       0.60          0.02     99   0.27   0.13
Mascotas 4         Chip-channel       4.10         <0.01    186   0.04   0.08
including                             1.90         <0.01    250   0.05   0.10
Mascotas 4         Chip-channel       1.00         <0.01     24   0.02   0.13
Mascotas 4         Chip-channel       0.95          0.06    157   0.06   0.06
Mascotas 4         Chip-channel       1.05         <0.01     37   0.02   0.01
Alteration zone    Chip-channel       1.40         <0.01     34   0.38   0.03
Alteration zone    Chip-channel       1.00          0.01     32   0.19   0.03

Samples are reported as sampled widths.

Andrew Thomson, president and chief executive officer of Soltoro, stated: "The newly identified Mascotas silver zone occurs over an area measuring 600 by 800 metres. The most significant structure extends for 600 metres along strike, and is similar in strike and dip to the Las Bolas and Highway deposits. Mapping and sampling are under way to identify suitable drill targets."

Maps of the Mascotas zone with values may be viewed at the company's website.

The Mascotas mineral system consists of at least five separate mineralized structures occurring within an area extending over 600 metres northeast by 800 metres northwest. All of the structures strike to the northeast and dip to the northwest between 55 and 70 degrees. Mineralized structures consist of an anastomosing network of quartz veinlets and breccia varying in width from two metres up to approximately 10 metres. Mineralization is characterized by grey to yellowish-green quartz with sporadic minor galena, lead oxides and malachite, within a weakly hematized intermediate lithic tuff host rock.

Mineralization in the Mascotas zone shares many similarities with mineralization in the Las Bolas primary silver deposit, including:

1. Similar strike and dip;
2. Mineralization consisting primarily of an anastomosing network of quartz veinlets and breccia hosted by mafic to intermediate volcanic rocks;
3. Presence of yellowish-green quartz thought to be caused by the occurrence of mimetite (lead arsenate) and/or vanadinite (lead vanadate) in the quartz;
4. Hematite alteration interpreted to be hypogene in origin;
5. Both areas are anomalous in silver, lead, arsenic, vanadium and barium.

One potentially important difference is that anomalous gold is present in several samples from the Mascotas mineral system, while gold is virtually absent from the Las Bolas mineralization. Additional mapping, sampling and ground geophysics are planned to identify drill targets while permitting is under way.

We seek Safe Harbor.