| COL-MAGNET CU-AU PORPHYRY PROPERTY |
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COL-MAGNET CU-AU PORPHYRY PROPERTY Quesnel Trough: Mt. Milligan-Kwanika-Loraine Area
Vancouver, Canada, May 23, 2007 Solomon Resources Ltd. (SRB: TSX-V) is pleased to provide the following update on exploration activities on its COL-Magnet porphyry project. Solomon is preparing to begin field work in the first week in June, 2007 on its COL-Magnet copper-gold porphyry project located in the Quesnel Trough in north Central BC, roughly 75 km north of Fort St. James. Hosted in the Late Jurassic to Early Cretaceous Hogem Batholith, the COL-Magnet project is geologically similar in both regional setting and mineralogy to Serengeti Resources Inc.s Kwanika project located only 45 kilometres to the northwest. Solomon is planning a 2007 work program including airborne MAG and EM geophysical surveys, 2,000m of diamond drilling, trenching and sampling, geological mapping, prospecting; and rock, soil and stream geochemical sampling. Solomon is fully funded up to $1.2 million for this work. Solomon is pleased to announce it has signed a 2,000 metre NQ2 drilling contract with Prospector Drilling of Ste. Rose du Lac, Manitoba. This initial phase of drilling is planned to commence the first week of July, 2007. Solomon has also contracted Fugro Airborne Surveys Corp. of Mississauga, Ontario, to conduct a 1,447 linekilometre airborne Total Magnetic Field and Electro-Magnetic Resistivity geophysical surveys of the entire COL-Magnet property. This work is scheduled to be completed in early to mid-July, 2007 with results provided in time to guide the 2007 exploration work. This survey is being conducted as part of a larger survey contracted by Solomon, Serengeti and Lysander Minerals Corporation. The COL-Magnet property was first explored in the early 1970s by Falconbridge Nickel Mines Ltd when drill intercepts of up to 45.7 metres grading 0.84% copper (DDH 71-13) were obtained at the A-Zone (previously reported December 12, 2006). Compilation work recently completed by Solomon staff has identified a number of target areas based on the reinterpretation of the historic work. Solomon will focus its first drill holes testing the down dip and on strike potential of known mineralization identified at the A-Zone. The 2007 drill program will also provide gold assays for the A-Zone since gold was not assayed in the historic work. An intact 3 metre segment of core recovered from old core in the field returned an assay of 2.17 grams per tonne Au (hole not identified; previously reported December 12, 2006). 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. Peter Walcott and Associates Ltd. are acting as the Technical Consultant for the geophysical work on behalf of Solomon, Serengeti and Lysander. 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 Ltd. Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of gold properties world wide. The Company is managed by a proven team of exploration geologists credited with the discovery and/or development of a number of significant 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 gold deposits in the United States, the Gosowong deposit in Indonesia, and the Cadia East deposit in Australia. Solomon has significant gold exploration projects in Mongolia and Australia. Solomons shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomons website at www.solomonresources.ca. On Behalf of the Board of Directors of
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