Solomon Begins 2008 Drill Program on Mongolian Uranium Property

5000 Meter Contract for Phase One of Drill Program Armstrong, BC – Friday, May 2nd, 2008. Solomon Resources Limited (SRB: TSX-V) is pleased to report that exploration drilling has commenced on the Baruunbayan Uranium Project in Mongolia with the first collar of the 2008 drill program located 400 meters south-southeast of discovery hole DDH-BB-8 from the 2007 drilling which returned assays of 0.02% U3O8 over 3 meters in the highly reduced sedimentary rocks of the Upper Cretaceous Bayanshiree Formation. (See News Release dated April 9th, 2008.) This grade is comparable to grades reported in the Unit 3 horizon at the adjacent Dulaan Uul property of Areva subsidiary Cogegobi XXK. Solomon‟s Baruunbayan Property and the Dulaan Uul Property of Cogegobi lie within the Unegt Depression, a broad basin approximately 100 kilometers in length and 60 kilometers in width extending from the Solomon tenures in the southwest to the Cogegobi tenures in the northeast where Cogegobi has recently announced a significant discovery of previously unknown bulk tonnage low grade uranium mineralization. Cogegobi has committed to an aggressive 85,000 meter drill program in 2008 and is constructing an in-situ recovery pilot plant on their holdings. Solomon‟s President and Chief Operating Officer, Randy Rogers, is in Mongolia supervising the start of the drill program and will be joined by consultant Frank Hassard, P.Eng. and Solomon Director Dr. Bill Lindqvist. Rogers observed: “Solomon is well funded to undertake this project in a previously unknown uranium district of Mongolia and we are directing significant resources and expertise to this program.” Solomon holds seven mineral licences covering 356,603 hectares in Mongolia including the Baruunbayan Property. Figure 1. Location of Baruunbayan Property, 2007 drill holes and first 2008 drill collar Qualified Person: Dr. William Lindqvist, Ph.D., FSEG, AIMM, AIME, a “Qualified Person” for the purposes of National Instrument 43-101, Standards for Disclosure for Mineral Projects of the Canadian Securities Administrators and a director of Solomon, has verified the data disclosed herein including sampling, analytical and test data and supervised the preparation of the information that forms the basis of the disclosure contained in this news release. QA/QC: Solomon has implemented quality assurance and quality control measures in its exploration programs, including the following: All field and data analysis work is carried out under the supervision of qualified Solomon geologists and geophysicists in accordance with procedures developed to conform to current „best practices‟ in mineral exploration. All spectrometric data (Total Count, uranium, thorium and potassium content fields) are converted to ACSSII format, and then checked for error using the minimum square method in preparation for plotting Analytical work has been conducted in certified labs, including Activation Laboratories Ltd. in Ontario, Canada, Actlabs Asia LLC in Ulaanbaatar, Mongolia (a subsidiary of Activation Laboratories) and ALS Chemex in North Vancouver, Canada. Laboratory results are reported in parts per million uranium (ppm). For values in percent U3O8, ppm uranium is multiplied by a conversion factor of 0.0001179 (1 ppm uranium x 1.179 = 1.179 ppm U3O8; 10,000 ppm uranium = 1.0% uranium; 10,000 ppm U3O8 = 1.00% U3O8); For conversion to lbs/ton U3O8, % U3O8 is multiplied by 20 (1 ton = 2,000 pounds). For conversion of ppm uranium to lbs/ton U3O8, multiply ppm uranium by 0.002358 (0.0001179 x 20) In addition to internal checks and standards provided by the labs, Solomon includes blind duplicate and blank samples. All analytical sample checks and standards are within reasonable limits of error. 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 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. Solomon‟s shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomon‟s website at www.solomonresources.ca or contact either: Lawrence J. Nagy, Chairman and Chief Executive Officer Phone: 250-546-4772 Randall S. Rogers, President and Chief Operating Officer Phone: 250-558-8952 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. < Prev   Next >