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Solar EnerTech Corp. Invited to Discussions Regarding Regional Supply of Refined Silicon

Posted on: Thursday, 1 June 2006, 18:00 CDT

Solar EnerTech Corp. (OTCBB: SOEN) (the "Company") wishes to announce that Company President Leo S. Young, along with a team of senior managers have just completed a visit to Inner (Southern) Mongolia, at the invitation of the Region's Autonomous Government. The purpose of the visit was to discuss the possibility of entering into a cooperative arrangement for the development and processing of locally mined solar grade silicon for a 3 year period.

As the price of fossil fuel has soared to over $70 per barrel in recent months, the global demand for silicon materials has undergone a significant upward shift. This is principally due to a global shortage of refined raw supply and increased demand from the solar photovoltaic (PV) manufacturing sector.

Situated on the northern frontier of China, the Inner Mongolia Autonomous Region occupies 1,183,000 square kilometers, comprising one eighth of the entire territory of the country. Together with the regions vast grassland the area contains several productive silicon mines and is one of the richest natural silicon resources in the world.

The recent meetings took place in the regional capital city of Huhhot and included Mr. Hu, the Director of the Region's Development and Reform Commission and resulted in a preliminary understanding that the Company could proceed towards the next stage in the process towards achieving the rights to develop and process the resource for a three year period during which time the Company would benefit from a number of favorable policies offered by the local government. It was determined that Wuhai, a city located at the center of the region, was recommended by the government as the most favored processing centre largely due to the ready supply of materials and low cost electrical power needed to produce high grade silicon ingots.

Analysis of a silicon sample returned to Shanghai and examined at Solar EnerTech's research lab reported a better than anticipated purity at 99.99% (4N) a very high grade for naturally occurring silica and as such, will minimize costs for the further refinement required to reach solar grade quality. Currently the region exports all of its locally produced raw silicon to Japan.

Solar EnerTech's President Young is confident that by forming a close relationship with Inner Mongolia, the future solar cell production facilities of the Company will be freed from potential silicon supply shortages and as a consequence can focus on achieving the long term goals of Management's strategic plans for the growth and profitability of the Company.

ABOUT THE COMPANY

Solar EnerTech is a wholly owned Photovoltaic (PV) solar energy cell manufacturing enterprise based in Shanghai, China where the Company is establishing a sophisticated 42,000 square foot manufacturing and research facility in Shanghai's Jinqiao Modern Science and Technology Park. Solar EnerTech plans to invest in PV cell research to develop higher efficiency cells -- and put the results of that research to use right away in the company's manufacturing processes. Led by one of the industry's top scientists, the company's R&D program will work towards bringing Solar EnerTech to the forefront of advanced solar technology research and production. The Company has also established a marketing, purchasing and distribution arm in the Silicon Valley region of Southern California.

Forward-Looking Statements:

Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Solar EnerTech Corp. has little or no control.

ON BEHALF OF THE BOARD

Solar EnerTech Corp.

Leo Shi Young, President

 Investor Relations Contact: Boundary Point Investor Relations Inc. 1-866-378-7372 Visit our website at www.solarenertech.com

SOURCE: Solar EnerTech Corp.

Source: MARKET WIRE

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