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SOL

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Share Name Share Symbol Market Type
TSXV:SOL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Soltoro Increases Equity Ownership in Argentum Silver Corp. to 14%

30/04/2012 2:00pm

Marketwired Canada


Soltoro Ltd. (TSX VENTURE:SOL) has received an option payment from Argentum
Silver Corp. (TSX VENTURE:ASL) whereby an additional 3,500,000 common shares and
a payment of CDN $120,000 were made to Soltoro towards the acquisition of
Soltoro's Victoria and Coyote silver gold properties in Jalisco State, Mexico.
Soltoro now holds a total of 6,300,000 shares of Argentum Silver (14% of the
outstanding shares of Argentum Silver). Under the terms of the option agreement
signed on April 25, 2011, Argentum Silver must evidence certain exploration
expenditures in order to complete a 100% transfer of title interest of the
Victoria and Coyote properties to Argentum Silver. On transfer of the
properties, Soltoro will retain a 3% Net Smelter Return interest in each project
whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum
of 2% for each project. Soltoro also retains the right to participate in
additional Argentum Silver financings to maintain its percentage equity
interest.


Andrew Thomson, President and C.E.O. of Soltoro, stated: "Soltoro has
successfully monetized the Victoria and Coyote properties whereby the Company
participates on a royalty basis on the Coyote and Victoria properties while also
participating on an equity basis on all of Argentum Silver's properties. Soltoro
remains focused on expanding silver resources at its El Rayo Primary Silver
Project."


At Coyote, Argentum Silver recently announced completion of the first phase, 25
diamond drill hole program. A total of 2,686 metres were drilled on the four
identified vein zones: 11 holes on the El Tajo zone, seven holes on the La
Florida zone, four holes on the Bocancha zone and three holes on the La Colorada
zone. Argentum's original drill program called for 19 holes to be drilled;
however, the high grades intercepted in hole 2012-3, which included 2.0 metres
of 2,745 grams per tonne silver, and in hole 2012-7, which included 1.2 metres
of 1,645 grams per tonne silver, encouraged Argentum to increase the number of
holes drilled to 25. Results from the first seven holes were announced by news
releases dated Feb. 29 and March 6, 2012. Argentum Silver has yet to release the
remaining 18 holes.


Prior to the April 25, 2012 share issuance, Soltoro owned 2,800,000 common
shares of Argentum Silver representing approximately 6% of their current
outstanding shares. As a result of the share issuance Soltoro now owns 6,300,000
shares of Argentum Silver, representing 14% of their outstanding shares. The
3,500,000 shares of Argentum Silver are being issued to Soltoro from treasury
pursuant to the option agreement entered into April 25, 2011 at a deemed price
by Argentum Silver of $0.30 per share. The closing price of Argentum Silver's
shares on the TSX Venture Exchange on April 25, 2012 was $0.18 per share.


Soltoro intends to monitor the business and affairs of Argentum Silver,
including its financial performance, and depending upon these factors, market
conditions and other factors, Soltoro may increase or decrease its beneficial
ownership in Argentum Silver as it deems appropriate. The Share Issuance was
completed in reliance on Section 2.13 of National Instrument 45-106 Prospectus
and Registration Exemptions. This press release is being disseminated as
required by National Instrument 62- 103 - The Early Warning System and Related
Take Over Bids and Insider Reporting Issues in connection with the filing of an
early warning report.


Soltoro holds in excess of 55,000 hectares of ground in Jalisco State. At
Soltoro's 100% owned El Rayo primary silver project, three drills are operating
to further expand the existing silver resource. For more information on
Soltoro's projects please visit www.soltoro.com.


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.


About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in
Mexico. The Company has two diamond drill rigs and one reverse circulation drill
rig operating at the El Rayo silver project with the objective of expanding the
existing 77.4 million ounce NI 43-101 silver resource. Soltoro has optioned
several of its properties in Jalisco State. The Company is seeking partners to
advance its Chinipas, La Tortuga, El Santuario and Pena Grande projects. Soltoro
has 58,948,037 shares outstanding and trades on the TSX Venture Exchange under
the symbol SOL. Coeur d'Alene Mines Corp. holds 4.5 million shares of Soltoro
Ltd.


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.


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