Solomon Resources Limited announces that, subject to regulatory approval, it intends to complete a private placement of up to 1.5 million units at a price of $0.35 each for proceeds of $525,000.

Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase one common share for two years at a price of $0.35 per share in the first year and $0.50 per share in the second year. If the closing trading price of the Company’s shares for five consecutive trading days after the four month restricted resale period equals or exceeds $0.45 per
share in the first year or $0.60 per share in the second year, the Company can give the warrantholders notice that they must exercise the warrants or the warrants will expire within 20 days.

Certain finders will be paid a cash commission of 7% (up to $36,750) of the funds raised by them and issued warrants to purchase that number of common shares equal to 10% (up to 150,000) of the number of units subscribed for by investors introduced by them. The warrants will be exercisable for a period of one year at a price of $0.40 each.

The proceeds from the placement will be used to fund exploration of the Company’s Mongolian properties and for general working capital.

About Solomon Resources Ltd.
Solomon has significant gold exploration projects in Mongolia and Australia. Solomon has recently begun exploration on its Bayantsagaan, Onon, and Chandmani Gold Projects in Mongolia. Solomon’s shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomon’s website at www.solomonresources.ca.

Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of gold and base metal mineral properties world wide. The Company is managed by a proven team of explorationists credited with the discovery and/or development of a number of significant deposits in the world, including the SNIP and Eskay Creek Mines in British Columbia; the Brewery Creek Mine in the
Yukon, and the Segala Gold Deposit in Mali, West Africa.


Contact Information
Keith A. Laskowski President
Direct: 720-272-6224
Phone: 604-669-6656
Fax: 604-684-9877
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.