Mr. Andrew Thomson reports

SOLTORO LTD. COMPLETES $600,000 FINANCING

Soltoro Ltd. has closed a non-brokered private placement of an aggregate of six million units at a price of 10 cents per unit for total gross proceeds of $600,000.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share until Nov. 7, 2016, at an exercise price of 15 cents per common share until the expiry date.

In connection with the financing, the company has paid to eligible persons a cash fee of an aggregate of $26,950 and has issued 269,500 warrants equal to 7 per cent of the aggregate number of units placed by the finders in respect of the offering. Each finder warrant is exercisable to acquire one unit at a price of 10 cents per unit until Nov. 7, 2016.

Net proceeds of this private placement will be used to further the company's exploration projects, finance possible new acquisitions and for general working capital. All securities issued pursuant to the offering are subject to a four-month-and-one-day hold period. The offering is subject to TSX Venture Exchange acceptance of requisite regulatory filings.

Ernesto Echavarria is an insider of the company by virtue of his holding approximately 16.58 per cent of the company's issued and outstanding common shares. Mr. Echavarria subscribed for an aggregate of 1.85 million units in the offering for gross proceeds to the company of $185,000. Upon completion of the offering, Mr. Echavarria now holds an aggregate of 13,376,700 common shares representing approximately 17.7 per cent of the issued and outstanding common shares. Pursuant to Multilateral Instrument 61-101 -- protection of minority security holders in special transactions -- the purchase of units by Mr. Echavarria is a related-party transaction. The company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the offering in reliance on sections 5.5(a) and 5.7(a), respectively, of MI 61-101, as neither the fair market value of the securities received by such parties nor the proceeds for such securities received by the company exceeds 25 per cent of the company's market capitalization as calculated in accordance with MI 61-101. The material change report is being filed less than 21 days before the closing of the offering as the company requires the consideration it will receive in connection with the offering immediately for working capital purposes.

The company also announces the grant of 400,000 incentive stock options to its newest director, Glen Masterman, exercisable at 10 cents per share and expiring on Nov. 7, 2019. The options shall vest and become exercisable as to one-half immediately and one-half on May 7, 2015. The granting of the options is subject to regulatory acceptance of applicable filings.