The Tecolote Project lies within the Guachinango District, which includes Soltoro’s El Rayo Primary Silver Project and the El Barqueño Gold Project recently acquired by Agnico Eagle Mines Limited. Tecolote and El Rayo lie within a broad northwest-trending belt of gold-silver mining districts that also includes Endeavour Silver’s San Sebastian Project.

Soltoro has identified several zones with the potential to host bulk tonnage 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 centers and are controlled by the intersections of a northeast-trending structural zone, extending onto the El Barqueño property to the southwest, with secondary northwest-trending structures. A detailed panel sampling program (large volume samples) has been completed to identify bulk tonnage gold targets for drilling.

Results from 284 panel samples collected from seven target zones 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 477 ppb gold (0.477 g/t gold). In the Cerro Colorado area 15 panel samples returned greater than 10 ppb gold with a maximum of 477 ppb gold. In the San Eusebio and Veta Grande areas, which are related to the Tecolote dome, seven panel samples returned greater than 10 ppb gold with a maximum of 434 ppb gold. Anomalous gold is associated with sporadic, low-level anomalies in copper, silver, bismuth and molybdenum in the San Eusebio and Veta Grande areas and with lead, zinc, arsenic, copper, silver and barium in the Cerro Colorado area. Prior vein sampling in these three zones returned 1.09 g/t gold over 0.85 m at Cerro Colorado, 5.7 g/t gold and 48 g/t silver over 1.00 metre at San Eusebio and 1.9 g/t gold and 21 g/t silver over 6.00 metres at Veta Grande.

Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "Soltoro’s panel sampling program has identified anomalous gold values within the Cerro Colorado, San Eusebio and Veta Grande zones at Tecolote. A follow up sampling program is being designed to further assess these targets. A trenching program will also be initiated to extend the known mineralization of the high-grade Carmelita vein."

High-grade vein targets are also present at Tecolote. Prior Soltoro sampling of the Carmelita vein returned 14.2 g/t gold and 308 g/t silver over 3.0 metres including 27.7 g/t gold and 671 g/t silver over 0.7 metres in addition to 24.0 g/t gold and 333 g/t silver over 0.8 metres, 12.5 g/t gold and 512 g/t silver over 0.7 metres and 8.0 g/t gold and 172 g/t silver over 1.1 metres. The Carmelita vein has been traced for over 100 metres along strike at surface where soil sampling suggests that the vein may continue further to the east.