Soltoro provides geological update on La Tortuga project

Soltoro Ltd. has received all of the assays results from its first phase of drilling on its La Tortuga project located in Jalisco, Mexico.

La Tortuga is currently under option to SMM Exploration Corporation, a subsidiary of Sumitomo Metal Mining Co., Ltd, (Sumitomo) one of Japan’s leading copper mining and manufacturing companies.

Soltoro will act as the operator of the project until Sumitomo has earned a 51% interest.

Under the terms of the letter of intent, Sumitomo may earn a 51% interest in the property by contributing US$4,000,000 in expenditures.

Sumitomo may earn a further 19% interest for a total of 70% by making additional expenditures of US$16,000,000 or by delivering a bankable feasibility study.

In February of 2008 Sumitomo entered the second earn-in period of the joint venture and approved a budget of US$750,000 for the next phase of the exploration program.

At La Tortuga, widespread copper mineralization occurs over 49 square kilometers.

Prior Induced Polarization (I.P.) surveys defined a 4 kilometre by 0.6 kilometre chargeability anomaly whereby the Papagayo Ridge was selected for drilling as porphyry rock outcrops at surface.

From January to March 6 of 2008, a total of 2,005 metres of drilling was carried out.

Five drill holes were completed testing the main chargeability anomalies in the Papagayo area. Geologically the drill holes cut extensive zones of potassically altered intrusive rocks which had been affected by at least 5 fracturing and veining events.

Tourmaline breccias were also encountered along with zones of disseminated pyrite which would account for the chargeability anomalies.

No copper mineralization was encountered in this round of drilling and consideration is being given as to whether follow-up drilling at depth is required in this zone.