Thursday, July 01, 2010 - Soltera Mining Corp. (OTCPK: SLTA) Secures Strategic Partner and Additional Funding - Soltera Mining Corp. (OTCPK: SLTA) Secures Strategic Partner and Additional Funding

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July 1, 2010 – ( mining stocks newswire) and its leading mining investor portals, issue the following commentary on Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7) as prepared by Lisa Springer, CFA.

Lisa Springer, CFAEquity research analyst and financial writer

Soltera Mining Secures Strategic Partner and Additional Funding

A key hurdle for many cash-strapped junior mining companies is securing funding for exploration and production activities. Soltera Mining reported a major accomplishment this month with the announcement of $1.5 million in financing and a new strategic partnership. Soltera is partnering with Italian-owned Goldlake Group, which has agreed to provide $1.5 million in financing over the next 12 months and up to $6 million to support development of alluvial gold production at Soltera's El Torno property in Argentina and complete test work on major gold targets.

The agreement is a win/win scenario for both partners since it enables Soltera to further explore and develop its flagship El Torno gold project and Goldlake to lock in new ethical gold supplies from alluvial production.

Goldlake Group is majority-owned by Gold Holding, the family holding company of Franco Colaiacovo, a founder of Italy's third-largest cement company. Through an operating subsidiary, Goldlake holds gold exploration and exploitation concessions encompassing over 10,500 hectares in the Lepaguare Valley of the central Honduras. Goldlake is a leading producer of ethical gold from alluvial deposits and differs from other mineral companies in its commitment to socially and environmentally responsible mining practices. Goldlake's alluvial gold deposits in the Honduras are worked using a cyanide-free extraction process and a zero waste and water management system. In addition, Goldlake ensures complete control over how its ore is mined and sold through an unbroken supply chain from extraction to the end customer. Its commitment to environmentally-friendly mining has been recognized by upscale jeweler Cartier, who has contracted with Goldlake to be an ethical gold supplier.

The financing will consist of three tranches. The first tranche will be released this month and used to pay the annual lease on the El Torno property and to update regulatory filings. A second tranche will be paid before the end of October and is allocated for test work on the alluvial gold as well as six major gold targets. A third tranche will be paid before June 30, 2011 and fund the completion of these objectives. Goldlake reserves the right to opt out of the three tranches if bulk sampling indicates non-economic gold grades, but this seems unlikely given profitable alluvial gold operations under the previous title holder, who ceased work only because of ill health.

Test work on the alluvial gold deposits will begin in September with bulk samples being sent to international assay labs. The analytical data from this test work will be used to optimize the processing plant design. Assuming favorable test results, gold production could begin before the end of 2010.

Soltera owns the rights to mine gold-bearing surface deposits at the El Torno property, which is located in northern Argentina near the Bolivian border. El Torno was explored by Mexican mining conglomerate Penoles (BMV: PE&OLES) in the late 1990s. Penoles estimated gold resources in just one kilometer of the 14 kilometer gold-quartz vein of at least half a million ounces and potentially exceeding two million ounces based on its drilling samples. There are also smaller veins of dispersed gold near the main system and elluvial deposits embedded in gold bearing bedrock found at relatively shallow depths. Soltera plans to develop the elluvial deposits first since these are easily accessible and relatively inexpensive to process.

Based on Penoles' resource estimates and current $1,200 per ounce gold prices, the value of El Torno gold in one kilometer of the 14 kilometer vein could potentially range from $600 million to well over $2 billion. However, Penoles' estimates are based on a limited number of drilling samples, so actual resources could differ materially from their estimates. Geochemical surveys completed in 2008 indicate the gold vein is mineralized throughout its entire length, suggesting the potential for a mega-deposit of gold at El Torno. Current sampling and testing work being performed by Soltera should help update and refine El Torno resource estimates.

Soltera obtained surface mining rights to El Torno this year and had planned to commence production from alluvial deposits in the spring, but lacked sufficient funding to proceed. The capital infusion by Goldlake enables the start-up of surface mining operations. Soltera plans to use cash flow raised through elluvial gold sales to further explore larger underground and open-pit targets, where the majority of El Torno gold is likely located. Exploration efforts will initially focus on the upper 100 meters of the target areas and commence with geophysical prospecting and drilling.

Readers are advised that the above article is solely for information purposes and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. The views expressed herein are based upon the author's analysis of the issuer's public disclosures, and assumes both their accuracy and completeness. The opinions and statements included herein are based on sources (including the companies discussed and public sources) believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. The author has not independently verified the information contained herein. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. You should review a complete information package on all companies, which should include, but not be limited to, the Company's annual report, quarterly reports, press releases and all regulatory filings. The foregoing discussion contains statements which are based on current expectations, estimates and projections, and differences from such expectations, estimates and projections can be expected.

The author, Lisa Springer, was compensated for writing this article by Soltera Mining and doesn't own shares of any of the companies mentioned in this article.
Lisa Springer, CFABio and disclaimer:

About Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7):Soltera Mining Corp. is a unique exploration company in the sense that it is following two distinct lines of action. The first is conventional, with exploration concentrated on two carefully selected gold and base metal projects in Argentina, particularly the large-scale El Torno gold project in Jujuy. The second, less conventional action is to finance immediate small-scale gold production from a specific section of the 14 km gold-quartz vein at El Torno.
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Soltera - Safe Harbor Statement: Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Information or opinions in this document are presented solely for informative purposes and are not intended nor should be construed as investment advice. We encourage you to carefully review the Company with your investment advisor and verify any information that is important to your investment decision

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