Soltoro Intercepts 15.85 Metres of 236 gpt Silver at Soledad and Commences Catarina Drilling at El Rayo Project

TORONTO, ONTARIO -- (Marketwire - Oct. 20, 2011) - Soltoro Ltd. (TSX VENTURE: SOL) has received results for an additional eleven diamond drill holes at the El Rayo primary silver deposit in Jalisco, Mexico. All eleven holes were completed on the newly identified Soledad structure. The east-west-trending Soledad structure represents a new and significant mineralised zone unknown at the time of the recently released NI 43-101 measured and indicated resource of 58.3M ounces of contained silver (NR98-June 14, 2011). To date at Soledad, two high-grade silver shoots (Central and Western) have been identified within a 600 metre strike length. Ray 11-98 tested the Central shoot and intercepted 15.85 metres of 236 gpt silver starting at a depth roughly 160 metres from surface. A step out drill hole is underway on the Central shoot to test for the mineralized structure at a depth of 300 metres from surface. The second drill has begun testing the Catarina mine area. The focus in the Catarina mine area is to prove up and expand a historic resource defined in the 1980's by the Consejo de Recursos Naturales, the equivalent of the Mexican geological survey.

Drill results from the Soledad ore shoots were returned as follows:

          Section   Target  Drill     From    To     Width 1   Ag (g/t)
Structure   Line     Area    Hole      (m)     (m)    (m)      (uncut)
Soledad 	565,800 	Central 	Ray11-892 	94.0 	111.7 	17.7 	88
			including 	94.0 	104.0 	10.0 	132
			including 	100.0 	104.0 	4.0 	198
Soledad 	565,500 	Western 	Ray11-90 	27.03 	39.0 	12.0 	48
				48.14 	55.0 	6.9 	35
			including 	51.5 	55.0 	3.5 	52
Soledad 	565,450 	Western 	Ray11-91 	19.55 	37.5 	18.0 	33
			including 	30.0 	37.5 	7.5 	41
				45.0 	51.0 	6.0 	27
Soledad 	565,850 	Central 	Ray11-92 	142.5 	156.3 	13.8 	146
			including 	150.0 	156.3 	6.3 	255
				155.5 	156.3 	0.8 	715
Soledad 	565,400 	Western 	Ray11-93 	11.9 	12.9 	1.0 	63
				40.9 	42.3 	1.4 	119
				63.1 	65.5 	2.4 	23
Soledad 	565,500 	Western 	Ray11-94 	65.56 	72.0 	6.5 	41
			including 	65.5 	67.0 	1.5 	123
			including 	66.5 	67.0 	0.5 	281
Soledad 	565,900 	Central 	Ray11-95 	202.0 	206.5 	4.5 	118
			including 	202.0 	203.4 	1.4 	261
				266.5 	267.4 	0.9 	254
Soledad 	565,500 	Western 	Ray11-96 	63.67 	64.7 	1.1 	341
				76.4 	79.5 	3.1 	29
				90.0 	94.5 	4.5 	45
			including 	93.7 	94.5 	0.8 	129
Soledad 	565,450 	Western 	Ray11-97 	61.35 	63.85 	2.5 	141
				75.0 	79.5 	4.5 	57
Soledad 	565,950 	Central 	Ray11-98 	159.0 	165.45 	6.45 	47
				186.0 	201.85 	15.85 	236
			including 	190.5 	194.0 	3.5 	374
			including 	196.4 	199.25 	2.85 	520
			including 	198.0 	199.25 	1.25 	855

1 All intersections are reported as drilled thickness. True widths are not known at this time.
2 Overall recovery for this interval is 68% including 47% from 99.0 to 102.0 m.
3 Overall recovery for this interval is 67% including 38% from 27.0 m to 28.5 m.
4 Overall recovery for this interval is 87% including 67% from 52.5 m to 55 m.
5 Overall recovery for this interval is 88%. Recovery for the interval from 23.6 m to 27.0 m is 50% including 0.4 m of 0% recovery from 23.6 m to 24.0 m. The interval of 0% recovery was included at 0 g/t Ag.
6 Overall recovery for this interval is 70%. Recovery for the interval 65.6 m to 67.0 m is 94% while recovery for the remainder of the interval is 54%.
7 Overall recovery for this interval is 88% including 67% from 64.5 m to 66.0 m.
8 Drill hole Ray11-99 was abandoned due to faulting and did not reach its intended target depth. No significant results were obtained from the 84 m drilled.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: “Step out drilling at the Central ore shoot of Soledad continues to return high grade mineralized widths at depth. The Company has elected to step back an additional 50 metres and test for the structure at a 300 metre depth. The second drill has begun testing the historic Catarina mine area which hosts 5 high grade silver shoots. The program outlined at Catarina is designed to define and expand a historic non-compliant NI 43-101 resource.“

Drill holes Ray11-89, Ray11-92, Ray11-95 and Ray11-98 were drilled into the Central shoot on the Soledad structure and were intended to test mineralization at depth. All four holes encountered significant mineralization, with hole Ray11-98 intersecting 15.85 metres of 236 gpt silver at a depth of roughly 160 metres from surface. Ray11-98 also returned significant lead and zinc values as well as anomalous gold values; A 49.35 metre interval from 152.5 metres to 201.85 metres returned 0.89% lead and 0.41% Zn as well as a 3.0 metre interval from 189 metres to 192.0 metres averaging 0.12 gpt gold. It should be noted that there is no direct correlation between the silver values and those of the base metals or gold. All of these elements occur within the same broadly mineralized zone, thus demonstrating the robust nature of the structure at depth.

Drill holes Ray11-90, Ray11-91, Ray11-93, Ray11-94, Ray11-96 and Ray11-97 were drilled into the Western shoot on the Soledad structure. Holes Ray Ray11-93, Ray11-94, Ray11-96 and Ray11-97 intersected high grades over narrow widths, while holes Ray11-90 and Ray11-91 intersected lower, but significant, grades over wider intervals. It is unclear at this point whether the narrower intersections reflect the nature of the mineralized structure in this area or whether they have been truncated by the intersection of the Soledad structure and a broad, north-northeast-trending fault system in the area. Soltoro continues to review the results and surface data to better understand this area and its potential.

A drill hole location map and sections of the newly drilled holes from the Soledad structure may be viewed at:
http://www.soltoro.com/projects/pdf/DHOct16Soledad.pdf.

The historic Catarina mines extend roughly 500 metres along strike. High grade silver mineralization has been located to a 250 metre depth. From 1978 through 1981 the Mexican Geological Survey carried out extensive surface trenching, underground sampling and development work, as well as surface and underground drilling and an induced polarization study. This work resulted in the definition of a 1,346,072 tonne resource grading 169 gpt silver. This historic resource is non NI 43-101 compliant and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources. Soltoro is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

At Catarina Soltoro has completed 6 orientation reverse circulation drill holes to date. One of the holes, Ray07-26 returned 46 metres of 115 gpt silver. More recently, Soltoro has completed a compilation of the historical government data, the orientation drill holes and the results from a surface trenching program carried out in the summer of 2010 in order to select the planned 8 diamond drill holes for the first phase of this program. This first phase of drilling is designed to test the continuity of the high-grade silver shoots below the historic workings.

On June 14, 2011, Soltoro released an in-pit mineral resource estimate for the Las Bolas and Highway Zone mineral deposits at its 100% owned El Rayo silver-gold project in Jalisco, Mexico (NR98-June 14, 2011). At the cut-off grade of 20 g/t Ag the Measured and Indicated Mineral Resources are 33,600,000 tonnes at an average grade of 54 g/t Ag containing approximately 58.3 million ounces of silver, and 200,000 tonnes of Inferred Mineral Resources at an average grade of 44.3 g/t silver, containing approximately 300,000 ounces of silver. The mineral resource estimate was prepared by Hrayr Agnerian, M.Sc. (Applied), P.Geo., Associate Principal Consulting Geologist with Roscoe Postle Associates Inc. and is compliant with National Instrument (NI) 43-101. Mr Agnerian is the Qualified Person for the purposes of National Instrument 43-101.

Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Gold was analyzed using a 30g fire assay with AA finish while the silver is analyzed using a four acid “near total“ digestion package. Mr. Steven T. Priesmeyer, C.P.G., Vice President of Exploration for Soltoro Ltd. and a qualified person as defined by NI 43-101 has reviewed and approved the contents of this press release. Field supervision of the El Rayo project is provided by Mr. Patrick Toth, P. Geo., Vice President of Operations, Soltoro Mexico.


About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in Mexico. The Company has two diamond drills operating at the El Rayo silver project with the objective of expanding the existing NI 43-101 silver resource. An orientation drill program was recently completed at the Chinipas gold project in the State of Chihuahua. Soltoro has optioned a portion of its Quila claim to Timmins Gold Corp. and optioned its Victoria and Coyote claims to Argentum Silver Corp. The Company continues to actively advance its La Tortuga, El Santuario and Peña Grande projects. Coeur D'Alenes Mines Corp. holds 4.5 million shares of Soltoro Ltd. Soltoro has 56,666,537 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.


This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Soltoro Ltd.
Andrew Thomson, President
(416) 987-0722
www.soltoro.com