Armstrong, B.C., Friday June 17th, 2010. Solomon Resources Limited (SRB: TSX-V) proposes to raise up to $1,000,000 through private placements of up to 3,333,333 units at CAD $0.15 per unit and up to 2,777,778 "flow through" units at CAD $0.18 per unit.

Each unit will consist of one common share and one transferable share purchase warrant to purchase a further (non-flow through) common share for $0.30 for a period of two years. The expiry date of the warrants may be reduced to 25 trading days from notice thereof if the closing price of the common shares equals or exceeds $0.50 for 20 consecutive trading days after the expiry of the four month restricted resale period.

Finders' fees of 8% will be paid on funds raised from investors introduced by finders. Solomon will also issue warrants to eligible finders to purchase that number of (non-flow through) units equal to 8% of the number of units from investors introduced by the finders. The finder warrants will be exercisable for two years at $0.18 per unit ($0.15 per unit for the non-flow through unit placement) in the first year and for $0.30 per unit  in the second.

In order to maintain consistency with the financings that closed in April 2010, the Company has, subject to the approval of the TSX Venture Exchange, agreed to reduce the exercise price of the warrants that formed part of the units then issued from $0.40 to $0.30. All other terms of the warrants then issued remain the same.

The financing is subject to regulatory approval.

The proceeds of this placement will be used to supplement $718,000 raised in April 2010 for the exploration and development of Solomon's Ten Mile Creek project in the White Gold area of the Yukon Territory (where an exploration crew has commenced the summer work program) and the Cry Lake Gold Project in British Columbia, general corporate overheads and the Company's continuing efforts to locate more advanced exploration and development projects.    

About Solomon Resources Ltd.:
Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of quality mineral properties worldwide. Solomon is managed by a proven team of exploration geologists involved with the discovery and development of a number of significant mineral deposits including the Snip and Eskay Creek deposits in British Columbia and the Brewery Creek deposit in the Yukon Territory.

For additional information visit Solomon's website at www.solomonresources.ca  or contact:

Randall S. Rogers, President and Chief Executive Officer        
Phone:        250-546-4772
Tollfree:    1-866-831-6666
Email:         This e-mail address is being protected from spambots. You need JavaScript enabled to view it