Solomon Completes Sale of Australian Tenements to Integra Mining Ltd.

Armstrong, BC - Thursday, April 24th, 2008. Solomon Resources Limited (SRB: TSX-V) is pleased to report that it’s wholly owned subsidiary Solomon (Australia) Pty. Ltd. has executed the final agreement for the sale of the Company’s Kalgoorlie Southeast Project in Western Australia to Integra Mining Ltd (IGR:ASX). The Kalgoorlie Southeast Project comprises 4 Exploration Licences, 75 Prospecting Licences, 17 Mining Leases and 9 Miscellaneous Licences all of which are the last remaining Australian tenements of the Company. The tenements were sold for Integra shares valued at A$ 1,000,000 and the replacement of Solomon’s environmental bonds at a value of A$ 280,000. The number of shares to be acquired was calculated according to Integra’s average share price during the week preceding completion of the sale. The total shares of Integra allocated for the sales of Solomon’s Australian assets are: 1. Kalgoorlie Southeast Project: 571,480 2. Glandore JV interest sale: 531,750 3. Monger JV interest sale: 836,030 Total: 1,939,260 shares Integra’s shares closed at A$ 0.66 on April 23rd, 2008. Solomon’s Chairman and CEO Larry Nagy notes “the sale of the remaining, inactive Kalgoorlie Southeast Project tenements to Integra will close the chapter on Solomon’s activities in Australia and permit the company to focus on Solomon’s uranium exploration project currently underway in Mongolia as well as other projects in North America. As of today’s date Solomon holds 3,806,745 shares of Integra Mining Ltd.” Integra Mining Ltd. is an Australian junior resource issuer currently conducting an aggressive exploration program on the tenements adjacent to the Kalgoorlie Southeast Project lands, as well as on the Randalls’ Gold Project tenements previously acquired from Solomon (see news release dated August 2nd, 2005). For additional information on Integra, visit http://www.integramining.com.au 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 >