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March 27, 2008
| Shares Issued & Outstanding: |
57,559,199 |
| Options Outstanding: |
4,895,000 |
| Warrants Outstanding: |
4,500,000 |
| Fully Diluted: |
66,954,199 |
Corporate Profile
Solex Resources Corp. is focused on the exploration and development of uranium and base metal properties located in southeastern Peru. The company began trading on the TSX Venture Exchange under the symbol SOX on June 6, 2005.
Solex controls over 90,420 hectares of uranium concessions in four projects in Peru's Macusani Uranium District. Its Macusani East Project (47,820 hectares) is in a 50/50 joint venture with Frontier Pacific Mining Corporation and the company holds 100% of the remaining 42,500 hectares in the Macusani South, Macusani South Central and Macusani West projects. The company also controls 1,800 hectares of additional uranium concessions and 14,500 hectares of precious and base metals concessions in properties located 80 km southeast of the Macusani uranium properties.
Peru Exploration
Peru is one of the most mineralized regions of the world - being rich in silver, zinc, lead, copper, oil and gold. The mining sector has traditionally contributed about half of the country's export revenue and represents a significant source of foreign currency. In recent years, political and economic stability have brought great interest in Peru as a resource-rich investment opportunity for foreign companies.
In 1991, the Peruvian mining law was simplified to allow foreign companies to hold 100% of mineral concessions, providing an attractive framework for the development of mineral projects. As long as companies pay an annual fee of US$3.00 per hectare per year of land held (as a land tax), they can hold concessions indefinitely. This straightforward mining law and exceptional geological potential has helped the country to attract one of the largest budgets for mineral exploration and development in the world.
Property Merits
Solex was formed to uncover the mineral potential of the relatively under-explored region of southeastern Peru, an area which hosts one of the lowest cost mines in the world. Originally a base metals company when it listed on the TSX Venture Exchange in 2005, Solex's research activities soon led management to the Macusani Uranium District, which was extensively explored in the 1970s by the Peruvian Institute of Nuclear Energy (IPEN). After Solex claimed at least 45 out of 60 uranium anomalies found by IPEN on the Macusani East project, surface exploration work and drilling have confirmed the potential of the area to host lower grade but widespread uranium mineralization at surface down to a depth of at least 50 metres.
Exploration Highlights - 2007/2008
Results from a 24,000-metre, 350-hole drill program completed by the Operator in 2007 on the Macusani East JV uranium project is being compiled to establish an initial Inferred Resource Estimation. The NI43-101-compliant report is expected within the second quarter of 2008.
Extensive regional surface reconnaissance and prospecting work has been ongoing on the company's wholly owned Macusani Projects since September 2007. Systematic exploration for drill targets is advancing quickly on Macusani South for a possible drill program in the second half of 2008. Exploration on Macusani West has identified at least 11 anomalous areas for further exploration.
In early 2007, Solex completed follow-up drill programs on its Princesa silver-lead-zinc and Pilunani lead-zinc projects. Results returned from the Princesa property were highly encouraging with a high-grade intersection of 1,482.5 g/t silver intersected over three metres at a depth of 70 metres. The company is now compiling data from both properties for submission to potential joint venture partners that can bring additional resources and expertise to advance the projects.
Summary of Solex Project Holdings
| Macusani East (Uranium) | Frontier Pacific JV |
| Macusani West (Uranium) | 100% owned |
| Picotani (Uranium) | 100% owned |
| Pilunani (Lead-Zinc) | 100% owned |
| Princesa (Silver-Lead-Zinc) | 100% owned |
| Cullquimayo (Polymetallic) | 100% owned |
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