| Exploration Update: BC: COL-MAGNET COPPER-GOLD PORPHYRY PROJECT, MONGOLIA: ZAMTIIN GOL URANIUM PROSP |
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Vancouver, Canada, July 10, 2007 Solomon Resources Ltd. (SRB: TSX-V) is pleased to provide the following update on exploration activities on its COL copper-gold porphyry project in north central BC and the Zamtiin Gol uranium project in Mongolia. BRITISH COLUMBIA COL-Magnet Property Solomon field crews have competed upgrading road access into the COL property and are now active overseeing mechanical trenching, drill site preparation and conducting geological mapping, trench sampling and soil sampling. Geologists on site report the mineralization observed includes molybdenum both in veins and disseminated with chalcopyrite on fractures. Based on visual inspections, copper-molybdenum mineralization can be traced in outcrop and two recent trenches (T2 and T3) for more than 200 metres in the area of the Campbell Trenches. Samples from the new trenches are currently being shipped for analysis and results can be expected in three weeks. Solomon has contracted Prospector Drilling of Manitoba to complete a minimum of 2,000 metres of NQ drilling on the Col property. Arrival of the drill has now been set to July 23, 2007 due to delays at the job site where it is currently operating. This will provide Solomon geologists more time to examine sample results and preliminary Fugro airborne Mag and EM Resistivity data recently completed for the property in preparation for drilling. Initial drilling will include the twinning of Falconbridge hole DDH71-13, which was drilled within the A-Zone and intersected 45.7 metres with a weighted average of 0.84% Cu. The purpose of this first hole is to confirm the historical results and to provide new data on the gold and molybdenum content of the A-Zone. Addition step out holes along the A-Zone are also planned, as are holes designed to test the new zone described above. MONGOLIA Zamtiin Gol Uranium Property Solomon field crews have completed the first phase of work on its 39,165 hectare Zamtiin Gol uranium prospect located in the Tarvagatayn Mountains of Arhangay Province in west-central Mongolia. Geophysical crews have outlined four shallow auto-gamma-ray spectrometer (PICO GRS-2; 4 litre detector) anomalies on the property. Geological mapping and auger soil sampling have also been completed. The spectrometer uranium anomalies occur near the headwaters of two parallel valleys draining south from the uraniferous Permian Solongo granite stock. At Anomaly Zm-1 in the east valley, where a soil sample collected in 2006 assayed 215 ppm uranium (announced Nov. 30, 2006), a surficial occurrence of podzodic or bog hosted uranium is highlighted by a 9 hectare, 20-80 ppm equivalent uranium spectrometer anomaly. Anomalies Zm-2, -3 and -4, although only 2.5 hectares each, occur within an area of above background response (>10 ppm U equivalent) extending for more than 1.5 kilometres within the west valley. Soil samples collected at half metre profile intervals at over 350 detailed grid-controlled and reconnaissance sample sites are currently being shipped for analysis; results are expected in early August. 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. QA/QC Solomon has implemented quality assurance and quality control measures in its exploration programs, including the following:
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 quality mineral 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 is currently focused on copper-gold and zinc-lead-silver base metals projects in Canada, uranium and coal energy projects in Mongolia and western Canada respectively and a tin project in Alaska. Solomons shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomons website at www.solomonresources.ca. or please contact:
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