| Mongolia Uranium Exploration Update |
Vancouver, Canada, November 26, 2007 Solomon Resources Ltd. (SRB: TSX-V) is pleased to announce that diamond drilling has commenced on its 100% owned Baruunbayan Uranium Property within the southwest portion of the Ooshiin Govi Basin of the Zuunbayan Uranium District in Dornogobi Province, southeast Mongolia. A second drill is expected to arrive this week. The initial 2,300 metre drill program is focused within Solomons Dornogobi-3 and Dornogobi-4 (D-3 & D-4) licences located approximately 150 kilometres southwest of the provincial capital of Sainshand and the national Ulaanbaatar-Beijing highway and railway corridor. At Solomons Zamtiin Gol uranium property in Arkhangai Province, recently received soil sample results outlined several anomalies of greater than 100 ppm uranium with the largest being 800 metres by 300 metres. Potential for a bulk tonnage intrusive hosted uranium deposit has been identified on the property. Field crews have also completed geophysical surveys of Solomons 100% owned Airag-1, -2 and -3 uranium properties in Ulaan Nuur Uranium Basin area. Baruunbayan Uranium Property The first of two drills contracted from Falcon Drilling Mongolia LLC began drilling at Solomons 100% owned Baruunbayan Property on November 10th, 2007. At Baruunbayan, Solomon will be testing for both sediment-hosted tabular or roll-front type uranium mineralization in three large prospective sedimentary basins located on the property and for hypogene uranium mineralization in the immediately adjacent basement rocks of the Ail Uranium District. The basins include a 20 km. by 5 km. sub-basin that forms the southwest extension of the Ooshiin Govi Basin and the Shine Us, and Bumbat basins. Solomons first two holes, 2007-B-1 and B-2 have been completed at the southwest end of the Ooshiin Govi Basin. The two holes are located 5.5 kilometres apart in the same basin target area. Assay results are pending. To date, drilling has provided greater than 90% core recovery. All holes are being tested with a down-hole gamma-gamma spectrometer tool. Core is being hand split for analysis. The Baruunbayan property covers the western portion of the Ooshiin Govi Basin of the Zuunbayan Uranium District in Dornogobi Province. For the past two years, the worlds third largest uranium producer, Compagnie Francaise de Mines et Metaux (CFMM, a subsidiary of AREVA NC) has been active with a multi-drill program at the eastern end of the Ooshiin Govi Basin. Little information has been released on CFMMs property but it appears that this drilling is associated with a sizeable, potential in-situ leachable (ISL), sediment hosted uranium discovery. In July 2007, CFMM bought the adjoining properties immediately to the south from East Asia Minerals Corporation for C$83 million. The purchase was based on results from 15 drill holes drilled by East Asia that reportedly encountered unconsolidated sands with multiple zones of downhole radiometric anomalies over a thickness of 80 to 90 metres. (East Asia; March 12, 2007). Zamtiin gol Uranium Property At Solomons Zamtiin Gol uranium property in Arkhangai Province, results from 407 soil sample sites have outlined several multiple site soil sample anomalies of greater than 100 ppm uranium. The soil anomalies, with individual samples of up to 970 ppm uranium (sample 52965) and measuring up to 800 metres by 300 metres in area, indicate an upslope source suggesting potential for a large, low grade intrusive hosted deposit within the uraniferous, 20,000 hectare Solongo granite stock. The Solongo stock is highlighted by the strongest Soviet-era (1984) airborne radiometric anomaly in central Mongolia. Zones with handheld scintillometer readings of up to 3,125 total counts per second were observed in outcrops of the Solongo granite stock up-slope of the soil anomaly areas. Solomon plans an extensive ground geophysical, mapping and sampling program over the Solongo granite stock at Zamtiin Gol in 2008. Intrusive hosted uranium deposits are typically low grade, but very large tonnage, of which the Rőssing open pit mine in Namibia is the largest example producing 7.55% of the world annual uranium production (Rio Tinto). Airag -1, -2 & -3 Uranium Properties Solomon contracted Geomaster Engineering LLC to conduct preliminary ground geophysical surveys of its 100% owned Airag-1, Airag 2 and Airag-3 uranium properties located within the Ulaan Nuur Uranium Basin area in northern Dornogobi Province. A total of 23.6 and 26.4 line-kilometres of ground magnetic surveys were completed using Scintrex EnviMag magnetometers on the Airag-1 and -3 properties, respectively. A complete Bouguer gravity survey was completed on the Airag-2 property. A total of 200 gravity stations were acquired along two lines using LaCoste & Romberg Model-G gravity meter. About In-situ Leach Uranium Recovery In-situ leach (ISL) uranium recovery is a low cost method of recovering uranium from the host ore without conventional mining techniques. It is used to safely recover uranium in many jurisdictions around the world including the United States, Kazakhstan and China. Using an array of wells, re-usable solutions are pumped into the ore horizon to dissolve the uranium. The uranium-rich solutions are pumped back to surface and the uranium is recovered. Upon closure, the wells are removed and the plant site reclaimed. There are no waste piles or open cuts or underground disturbances. Qualified Person under National Instrument 43-101: Solomons Vice-President - Exploration, David Tupper, P.Geo., 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 may contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Solomon. 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. Solomon 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, the Cadia East deposit in Australia, Didipio deposit in the Philippines and recently the Gualcamayo deposit in Argentina. 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 please contact: Lawrence J. Nagy, President and CEO Phone: 604-669-6656 or Randall S. Rogers, Vice President Corporate Development and Investor Relations Phone: 250-558-8952 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Toll free: 1-866-831-6666 or visit Solomons website at www.solomonresources.ca The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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