| Solomon Announces Private Placement |
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$ 1,000,000 Financing Proposed Armstrong, B.C. - Monday, October 6th, 2008. Solomon Resources Limited (SRB: TSX-V) proposes to raise up to $1,000,000 through a private placement of up to 10 million units at CAD($) 0.10 per unit. The funds raised will be used for exploration and general working capital. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will be exercisable to purchase a further common share for $0.15 for a period of one year. Finders fees will be paid in units to eligible finders on that portion of the funds raised from third parties introduced by the finders. The fees will consist of 7% in cash and warrants to purchase 15% of that number of units purchased by such third parties. The financing is subject to regulatory approval. 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 involved 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 the exploration of copper-gold projects in British Columbia and Ontario, a coal project in British Columbia, a tin project in Alaska and uranium projects in Mongolia. 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 contact either: Randall S. Rogers, President and Chief Operating Officer or: Lawrence J. Nagy, Chairman and Chief Executive Officer Phone: 250-546-4772 The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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