Solitaire Minerals closes $585,750 private placement

2008-03-12 17:19 ET - News Release

Mr. Charles Desjardins reports

SOLITAIRE MINERALS CORP. CLOSES PRIVATE PLACEMENT

Solitaire Minerals Corp. has closed the non-brokered private placement reported in Stockwatch on Feb. 7, 2008. The company raised $585,750 by way of a non-brokered private placement at a price of 15 cents.

A total of 3,255,000 units were issued as flow-through units consisting of one common share and one-half of one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of 17.5 cents per share for the first year and 20 cents until expiration the following year.

A total of 650,000 units were issued as non-flow-through units consisting of one common share and one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of 17.5 cents per share for the first year and 20 cents until expiration the following year.

A total of 2,277,500 warrants were issued. One warrant will entitle the holder to purchase one additional common share of the company at a price of 17.5 cents per share for the first year and 20 cents until expiration the following year.

Number of placees:  46 placees

Pro groups:  David Hamilton Smith, 100,000 FT; Kerry Chow, 200,000 FT

Finders' fees:  Pacific International Financial Corp. receives $20,625 and 137,500 warrants, each exercisable for one share at a price of 15 cents per share for a two-year period. Bolder Investment Partners Ltd. receives $6,000 and 40,000 warrants, each exercisable for one share at a price of 15 cents per share for a two-year period. Canaccord Capital Corp. receives $20,700 and 138,000 warrants, each exercisable for one share at a price of 15 cents per share for a two-year period.

Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring July 12, 2008.

The proceeds of the private placement will be used for exploration of the company's mineral properties and general working capital.

We seek Safe Harbor.