Solex Reports Complete Drill Results at the Sayana Central Target, Macusani East Uranium Project, Peru

Solex Reports Complete Drill Results at the Sayana Central Target, Macusani East Uranium Project, Peru

Solex Resources Corp. announced the complete drill results from the Sayana Central near-surface uranium target at the Macusani East Project in Peru. The Macusani East Project is joint-ventured with Eldorado and contains 53 known uranium anomalies across 43,320 hectares.

In total, 86 holes for an aggregate 8,172 metres were drilled on the Sayana Central target during 2007 and 2008; 66 holes were drilled in 2007 on structurally controlled radiometric anomalies, six holes were drilled in 2007 as part of a twinning program and seven in-fill holes were drilled in 2008. Of this program, only holes SY07-01 to SY07-24 have been reported (Press release dated November 14th, 2007) by the Operator, Frontier Pacific, prior to their acquisition by Eldorado in July 2008.

“The results demonstrate continuity of mineralisation over a wide area and therefore positions the Sayana Central anomaly as a top priority target for the Company,” said Jonathan Challis, President and CEO of Solex Resources. “With these results, we expect to be able to complete an inferred resources N43-101 technical report and in the upcoming year to try expanding its size with additional drilling.”

To date, drilling has covered an area of approximately 800 metres by 400 metres with the anomaly still open on strike according to the radiometric survey. The results demonstrate continuity of mineralisation along both the North/South and Southwest/Northeast trending radiometric anomalies.

The 73-hole drill program at Sayana Central was completed at the end of 2007. Sayana Central is one of the original seven targets that were drilled as part of the 2007, 20,000 metre drill program on the extensive Macusani East Uranium Project in Southern Peru.

Results from the first 24 drill holes, announced on Nov 14th 2007, targeted the North-South radiometric anomaly at Sayana Central, the following 49 holes targeted the Southwest/Northeast trending radiometric anomaly.

The results confirm that the uranium mineralization is restricted to sub-vertical fractures and appears as congealing fracture fillings related to cooling of the near-surface flows. Uranium mineralization found closer to the intersection of the North-South radiometric anomaly at Sayana Central occurs mainly as autonite and meta-autonite, some secondary uranium-bearing minerals, notably autonite and metaautonite. Drilling to date has tested approximately 30% of the radiometric anomaly, confirming the presence of a near-surface, flat lying ignimbrite uraniferous horizon.

The objective of the twinning program was to provide additional drill core for both the QA/QC program (earlier in the campaign drill core had not been retained) and secondly to supply materials for Metallurgical testing, final results from which remain outstanding although the test programme has been completed. The twinning program demonstrated a high degree of correlation between the holes originally drilled.

Solex was provided access to the Operators full database by Eldorado Gold Corp. on September 11, 2008 (see related news release). The Company retained an independent Qualified Person, Mr. Alain Vachon, P.Eng., Geologist, to review, evaluate and where necessary reconstruct the data base. He has visited the field and conducted testing and enquiry to his level of satisfaction to confirm and where necessary test the appropriateness and sufficiency of the QA/QC procedures performed by the Operator. Mr. Vachon has been actively involved in mineral exploration, mine development and mining operations in Peru and Canada throughout his career. Both Mr.Vachon and Jonathan Challis, FIMMM, are Qualified Persons under Canadian Securities Administrators National Instrument 43-101 policies and are responsible for the contents of this news release.

Solex Resources Corp. is the dominant landholder in southern Peru’s Macusani Uranium District with concessions covering over 904 km2. NI 43-101 reports have recently been filed on both the Princesa silver, lead and zinc property and the Pilunani lead and zinc project.

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