| New Magnet Claims Expands Solomons COL Cu-Au Property |
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Vancouver, Canada, December 21, 2006 Solomon Resources Limited (SRB: TSX-V) (Solomon) is pleased to announce that the Company has expanded its COL copper-gold porphyry property located in north central British Columbia. Solomon has staked an additional 29 mineral claims totalling 12,884 hectares within the Omineca Mining Division roughly 45 kilometres east of the Fort St. John railway head. The new Magnet claims immediately adjoin to the northwest and southeast of Solomons recently acquired COL property (Solomon news release: December 13, 2006), expanding the Companys land position in this highly prospective belt to a total of 30 kilometres. The COL-Magnet property is located near the southern end of the Hogem Intrusive Complex within the Quesnel Terrane. The Quesnel Terrane extends north roughly 1,300 kilometres from the BC-Washington State border and hosts some of the British Columbias most significant alkalic porphyry copper-gold deposits including: Copper Mountain-Similco, Highland Valley, Afton, New Afton (currently: 65.7M. tonnes grading 1.02% Cu, 0.77g/t Au, 2.59g/t Ag; New Gold Inc. 2005); Mount Polley, Kemess and Kemess North (424M. tonnes grading 0.16% Cu, 0.30 g/t Au; Northgate Minerals Corporation). The Late Triassic to Early Cretaceous Hogem Intrusive Complex extends more than 160km within the Quesnel Terrane and hosts numerous advanced copper-gold±molybdenum porphyry projects including: Mount Milligan (205M. tonnes grading 0.25% Cu, 0.6 g/t Au; Placer Dome, 2006) Chuchi Lake, Takla-Rainbow, Ato, Misty, Tam, Lorraine (32M tonnes grading 0.66% Cu, 0.17 g/t Au; Lysander Gold Corporation, 1997), Davie Creek and Kliyul. Also in the belt, roughly 35 kilometres to the northwest of Solomons COL-Magnet property, is Serengeti Resources Inc.s Kwanika Property where recent drilling intersected significant new copper porphyry-style mineralization. The new Kwanika property discovery is based on visual inspection of the core, reported as disseminated chalcopyrite-pyrite mineralization within zones of intense potassic alteration (Serengeti Resources Inc., December 8, 2006). The COL property hosts similar mineralization with reported historic drill intercepts of intense potassic alteration grading up to 0.84% Cu over 45.7 metres (Hole 71-13; gold not analyzed; reported December 13, 2006). The Col-Magnet property covers 30 kilometres of a strong linear airborne magnetic geophysical anomaly associated with monzonite to monzoganitic rocks of the Hogem Intrusive Complex. Alkalic porphyry copper-gold mineralization typically occurs on the margins of magnetic geophysical highs in association with iron-oxide (magnetite, hematite) enriched intrusions. The Magnet claims incorporate four known mineral occurrences briefly described below:
Solomon has the right to earn a 100% interest in the COL property from Indata Resources Ltd. and Nation River Resources Ltd. of British Columbia. The Magnet 1 to 29 claims are owned 100% by Solomon. A one kilometre Area of Interest surrounding the COL property applies to five of the Magnet claims. Qualified Person under National Instrument 43-101 David Tupper, P.Geol. a qualified person for the purposes of National Instrument 43-101, has verified the data disclosed, including sampling, analytical and test data, contained in and supervised the preparation of this news release. Forward Looking Statements Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Solomon Resources Ltd. Actual results may differ materially from those currently anticipated in such statements About Solomon Resources Limited. Solomon Resources Limited is a Canadian, public listed company focused on the acquisition, exploration and development of gold, copper and uranium properties worldwide. The Company is managed and directed, by a proven team of professional exploration geologists credited with the discovery and/or development of several significant ore deposits in the world, including the SNIP, Eskay Creek and Brewery Creek deposits in Canada, the Segold gold deposit in Mali, the Chimney Creek, Mule Canyon, Ruby Hill, Mesquite and Ortiz deposits in the United States, the Gosowing deposit in Indonesia, the Cadia East deposit in Australia and recently, the Gualcamayo gold deposit in Argentina. Solomon also has significant gold and uranium exploration projects in Mongolia and two gold exploration projects in Australia currently joint ventured to Newcrest and Harmony. Solomons shares trade under the banner SRB on the TSX Venture Exchange (TSX-V; Tier 1). For additional information visit Solomons website at www.solomonresources.ca. On Behalf of the Board of Directors of
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