OTTAWA, May 26 /CNW Telbec/ - Blue Fyre One Inc., (TSXV: BLU.P) ("Blue
Fyre"), an Ottawa-based Capital Pool Company, announces that the trading halt
on Blue Fyre is being lifted pursuant to an announcement in the TSX Venture
Exchange Inc. (the "Exchange") bulletin issued yesterday. Trading will resume
on the opening of the market on Monday May 29, 2006.
Blue Fyre also announces that its proposed acquisition target, Soltoro
Ltd. ("Soltoro"), an Ontario corporation, has recently appointed a Chief
Financial Officer, Mr. James Kirke, who will also be appointed as the Chief
Financial Officer of the resulting issuer upon completion of the Soltoro
qualifying transaction. Mr. Kirke, a Canadian chartered accountant, is a
Toronto resident is also currently CFO for Marathon PGM Corporation. Mr. Kirke
has over 20 years of experience in public accounting, consulting and
management of public companies.
Soltoro is a mineral exploration company exclusively active in
south-western Mexico through its wholly owned Mexican subsidiary, Soltoro S.A.
de C.V. ("Soltoro Mexico"). Soltoro Mexico holds 100 % title interest to two
separate mineral concessions located in the State of Jalisco, Mexico: La
Tortuga & El Rayo.
Geological Update: At La Tortuga, an Induced Polarization survey has been
completed outlining the limits of a potential copper-gold porphyry system. The
Company has yet to receive all interpretive data from this survey. The
presence of mineralized intrusive matrix breccias as well as tourmaline matrix
breccias, pebble dikes and various mineralized copper-gold-silver veins on the
property indicate the potential for the property to host a sizeable Cu-Au
porphyry system. Further geological mapping and sampling on the south end of
the property is underway and results from these will be correlated with the
I.P. survey in order to pinpoint drill targets.
At the El Rayo silver-lead-gold concession a preliminary regional
exploration program was completed in May of 2006 that investigated mineral
occurrences in areas not previously visited by Soltoro geologists. These areas
are outside of the historic silver-lead mining camp within the property and
are not known to have seen modern exploration. Soltoro intends to conduct
further work programs before year end to further investigate these new
regional targets and to evaluate the previously mined areas.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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