Asensio provides testimony against Solv-Ex.

Last week Manuel P. Asensio, President of Asensio & Company, Inc., gave his testimony as a non-party witness in Solv-Ex Corporation’s civil lawsuit against two highly regarded institutional investment management companies. These two prominent investors conducted extensive due diligence on Solv-Ex and sold Solv-Ex shares short. Neither Mr. Asensio nor Asensio & Company was involved with any of the events alleged in Solv-Ex’s lawsuit against these two investors.

A Motion to Dismiss the Solv-Ex lawsuit is pending. Solv-Ex is inexplicably spending a significant amount of time and money attempting to prosecute a case that may be dismissed. Regardless of the outcome this lawsuit can not in anyway create any value for Solv-Ex shareholders. Solv-Ex has no cash flow or earnings capability, is in arrears on payments to its suppliers and in default of its Deutsche Bank loan. There is no reasonable business justification for Solv-Ex’s decision to waste its very limited funds on this futile publicity stunt. Solv-Ex’s attorneys have acknowledged in court that this case has nothing to do with the validity or accuracy of the defendant’s criticism of Solv-Ex and its management.

Asensio & Company has issued a Strong Sell recommendation on shares of Solv-Ex’s common stock. The recommendation is based on an in depth fundamental and technical study of all of Solv-Ex’s assets and claims. This detailed comprehensive study forms the basis of Asensio & Company’s independent evaluation of Solv-Ex’s common stock. The study concludes that Solv-Ex’s assets are worth substantially far less than its debt. Solv-Ex’s current market value of over $250 million can only be attributed to the many important false and untrue statements made by its management. As a result, Asensio & Company projects that Solv-Ex’s shares will soon trade below $1. Mr. Asensio’s testimony serves to support these conclusions.

Solv-Ex Corporation (Trading Symbol: SOLVQ) (Price: $8.00)

Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks. Additional information is available upon request.