Mr. Andrew Thomson reports

SOLTORO COMPLETES PANEL SAMPLING PROGRAM ON TECOLOTE PROJECT

Soltoro Ltd. has completed panel sampling on its 100-per-cent-owned Tecolote gold project located in Jalisco, Mexico. The Tecolote project lies within the Guachinango district, which includes Soltoro's El Rayo primary silver project and the El Barqueno gold project recently acquired by Agnico Eagle Mines Ltd. All three projects lie within a broad northwest-trending belt of gold-silver mining districts that also includes Endeavour Silver's San Sebastian project.

During reconnaissance geologic mapping in 2014, Soltoro identified several zones with the potential to host large-tonnage, low-grade gold mineralization. These include broad areas of clay alteration, as well as areas of northeast-trending quartz-hematite stockwork and breccia. The clay alteration zones are related to felsic intrusive centres and are controlled by the intersections of a northeast-trending structural zone extending onto the El Barqueno property to the southwest, with secondary northwest-trending structures. The recognition of these targets led to a detailed panel sampling program (large-volume samples) intended to systematically evaluate the potential of the clay alteration zones to host a significant gold target. The panel sampling program was subsequently expanded to include several areas containing quartz-hematite stockworks.

During the panel sampling program, which began in August of 2014, 379 panel samples were collected from seven target zones. Results indicate the presence of anomalous gold in three zones: Cerro Colorado, San Eusebio and Veta Grande. Gold values in these areas range from below detection limit up to 3,570 parts per billion (3.57 grams per tonne) gold. Anomalous gold is associated with sporadic, low-level anomalies of copper, silver, bismuth and lead in the San Eusebio and Veta Grande areas, and with zinc, lead, silver, bismuth and manganese in the Cerro Colorado area.

The 1,500-metre-long Cerro Colorado target includes four zones of mineralization: Veta Victoria, Cerro Colorado, Colorada mine and Veta La Magnifica. Twenty-eight of 88 panel samples contained greater than 10 parts per billion gold with a maximum of 3,570 parts per billion gold. Prior sampling of veins within the Cerro Colorado zone yielded 10.3 grams per tonne gold and 104 grams per tonne silver over one metre from the Colorada mine, and 8.08 grams per tonne gold and 20 grams per tonne silver over 0.8 metre from Veta Victoria, and 1.12 grams per tonne gold and 11 grams per tonne silver over 0.9 metre from Veta La Magnifica.

In the San Eusebio and Veta Grande areas, 11 of 81 panel samples contained greater than 10 parts per billion gold with a maximum of 434 parts per billion gold. Prior sampling of veins in the San Eusebio area yielded 12.85 grams per tonne gold and 12 grams per tonne silver over one metre, and 5.55 grams per tonne gold and 97 grams per tonne silver over 0.5 metre, while prior sampling of veins in the Veta Grande area yielded 4.89 grams per tonne gold and 36 grams per tonne silver over one metre, and 2.54 grams per tonne gold and 197 grams per tonne silver over 1.2 metres.

Andrew Thomson, president and chief executive officer of Soltoro, stated: "Soltoro's panel sampling program on the Tecolote concession has identified anomalous gold values within the Cerro Colorado, San Eusebio and Veta Grande zones. The presence of higher-grade gold and silver values within broader zones of low-grade mineralization is encouraging. A follow-up sampling program is being designed to further assess these targets."

High-grade vein targets are also present on the property. Previous sampling of the Carmelita vein by Soltoro in 2012 and 2013 returned 14.2 grams per tonne gold and 308 grams per tonne silver over three metres, including 27.7 grams per tonne gold and 671 grams per tonne silver over 0.7 metre, in addition to 23.5 grams per tonne gold and 333 grams per tonne silver over 0.8 metre, and 12.5 grams per tonne gold and 512 grams per tonne silver over 0.7 metre (news releases dated Nov. 16, 2012, and June 17, 2013). The Carmelita vein has been traced for over 100 metres along strike at surface, but soil sampling suggests that the vein may continue farther to the east where the structure is covered by overburden.

Maps showing regional structures, intrusive centres and alteration zones may be viewed on the Soltoro website.

Qualified persons

Steven T. Priesmeyer, CPG, is vice-president exploration for Soltoro. He is a qualified person as defined by National Instrument 43-101, and he has reviewed the geological contents of this press release. Analytical work is performed by ALS Chemex. Samples are submitted to the ALS sample preparation facility in Guadalajara and pulps are shipped by ALS to its laboratory in Vancouver, B.C., for analysis. Analytical procedures include a 33-element ICP-AES analysis (ME-ICP61m) and a 50-gram FA AA finish for gold (AA-24). Silver assays exceeding 100 grams per tonne are reassayed by HCL leach with an ICP-AES or AAS finish (OG62).

We seek Safe Harbor.