Market Overview

Solitaire Approves Share Consolidation and Name Change to Pistol Bay Mining Inc.

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2012) - Solitaire Minerals Corp. (TSX VENTURE:SLT) confirms that at the annual general and special meeting held on September 27th 2012 (the "Meeting"), shareholders approved, by special resolution, a consolidation of the Company's common shares on the basis of up to one (1) post-consolidated share for every twenty (20) pre-consolidated shares (the "Consolidation").

As of the Meeting, the Company had 100,811,700 issued and outstanding common shares. Following the Consolidation, the Company will have approximately 5,040,585 shares outstanding. No fractional shares will be issued, but will instead be rounded as provided for in the Business Corporations Act (British Columbia). The TSX Venture Exchange has approved the Consolidation and commencing November 6th 2012, the Company's common shares will trade on a post-consolidation basis.

The Company further reports that the Board of Directors has reserved the name Pistol Bay Mining Inc. and the Company will begin trading under the new symbol PST on November 6th 2012. Registered shareholders will receive a letter of transmittal from Computershare Trust Company, the Company's transfer agent, with instructions for exchanging their pre-consolidation shares.

About Solitaire Minerals Corp. (TSX VENTURE:SLT) is a diversified Junior Canadian Mineral Exploration Company with a focus on precious and base metal properties in North America.

On Behalf of the Board of Directors

SOLITAIRE MINERALS CORP.

Charles Desjardins, President and Director

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

FOR FURTHER INFORMATION PLEASE CONTACT:
Solitaire Minerals Corp.
Charles Desjardins
604-683-5445
604-687-9631 (FAX)
info@solitaireminerals.com
www.solitaireminerals.com

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