| Solomon Increases Private Placement Financing to $1,085,000 |
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Vancouver, Canada, June 6, 2007 Solomon Resources Ltd. (SRB: TSX-V) is pleased to announce that due to significant interest it has increased the amount to be raised under its unit private placement announced May 31, 2007. It now proposes to issue up to 3,100,000 units at CDN$ 0.35 per unit for total proceeds of up to $1,085,000, instead of approximately 1.43 million units for proceeds of $500,500. Each unit will be comprised of one common share and one share purchase warrant exercisable to purchase a further common share for $0.50 during a period of two years. Subsequent to the expiry of the initial four month hold period, the expiry of the warrants may be accelerated, upon notice to holders and at the election of the Company, if its shares trade at a price equal to or greater than $0.75 per share for 20 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 given to the warrant holders. The financing is subject to regulatory approval and finders fees will be paid in units to accredited agents on that portion of the funds raised from third parties introduced by the finders. The funds will be directed to funding uranium exploration in Mongolia and to general working capital. Solomon is currently focused on copper-gold and zinc-lead-silver base metals projects in Canada, and uranium and coal energy projects in Mongolia and western Canada, respectively. It is a Tier 1 Company whose shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomons website at www.solomonresources.ca. For further information please contact:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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