Vancouver, Canada, February 28, 2007 – Solomon Resources Limited (SRB: TSX-V) has raised a total of $700,000 through a non-brokered, private placement of units with the MineralFields Group at a price of $0.30 per unit. This was the second financing that Solomon has completed with the MineralFields Group having previously completed a ‘flow-through’ private placement in December, 2006.

Each unit consisted of one ‘flow-through’ common share and one-half of one non-flow-through, transferable warrant. Each full warrant is exercisable to purchase one common share for a period of two years at an exercise price of $0.55 in the first year and $0.75 in the second year. The warrants are subject to an accelerated expiry wherein the exercise period of the warrants may be reduced, upon notice to holders, if the closing price of the shares is equal to or greater than $0.75 per share for 10 consecutive trading days. If this condition is met and Solomon so elects, the exercise period will be reduced to 25 business days from the date notice is provided by it to the warrant holders.

A 7.5% finder’s fee was paid in cash to Limited Market Dealer Inc. of Toronto, Ontario.

The flow-through proceeds will be used to finance the diamond drilling at Solomon’s Enyapamikama VMS Property north of Pickle Lake, Ontario and exploration of Solomon’s Bowron Basin Coal Property.

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 Segala 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 most recently, the Gualcamayo gold deposit in Argentina.

In addition to the Enyapamikama and Bowron Basin Coal properties, Solomon also has the COL-Magnet copper-gold porphyry project in north central BC, significant gold, copper-gold and uranium exploration projects in Mongolia and the Sleitat Mountain tin project in Alaska, the
latter of which is currently under optioned to Brett Resources Ltd..

Solomon’s shares trade under the banner SRB on the TSX Venture Exchange (TSX-V; Tier 1). For additional information visit Solomon’s website at www.solomonresources.ca.

About MineralFields and Pathway
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assents under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at www.mineralfields.com.

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