SOLOMON RESOURCES LTD. Financial Statements (unaudited) April 30, 2008

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Unit 3 – 2860 Smith Drive Armstrong, B.C., CANADA V0E 1B1

Phone: (250) 546-4772 Fax: (250) 546-6656 Web Site: www.solomonresources.ca NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor. The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company’s management. The Company’s independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity’s auditor. For further information please contact: Lawrence Nagy, CEO Phone: (250) 546-4772

Fax: (250) 546-6656

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2008200720082007 $ 3,844 $ 12,303 $ 39,119 $ 24,131 7,000 8,030 13,474 12,615 10,844 20,333 52,593 36,746 33,394 25,157 64,620 80,901 109,877 96,392 295,333 285,398 - 129,200 36,500 129,200 14,161 8,000 36,211 23,000 9,358 10,153 133,706 79,444 3,973 5,400 15,208 10,208 264 2,210 2,481 7,738 171,028 276,512 584,060 615,889 (160,183) (256,179) (531,466) (579,143) - - - (117,824) - 228,156 898,690 450,715 425,697 - 425,697 - - (30,246) (143,366) (1,722,156) - - 114,000 - - - (53,591) - 72,572 9,406 24,012 47,093 498,269 207,316 1,265,442 (1,342,172) 338,086 (48,863) 733,976 (1,921,315) - - (771,060) - 214,757 - 1,648,414 - 214,757 - 877,354 - $ 552,843 $ (48,863) $ 1,611,330 $ (1,921,315) $ 0.01 $ (0.00) $ 0.03 $ (0.04)54,260,39850,897,38154,260,398... AVERAGE NUMBER OF SHARES OUTSTANDINGNine Months EndedProfessional feesRevenues Interest Oil, and gas, netSOLOMON RESOURCES LIMITEDCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(Unaudited)Resource properties written offApril 30April 30Three Months EndedStock exchange fees General and Administrative ExpensesOffice and miscellaneousRevaluation of investment to fair valueRent and administrative servicesPromotion and shareholder costsRecovery of expenditures on resource propertiesGain on exchangeOTHER ITEMSWrite down of investmentGain on sale of investmentGain on disposal of assets held for salePart XII.6 tax on flow through fundsTransfer agent feesStock based compensationCOMPREHENSIVE INCOME (LOSS) PER SHARECOMPREHENSIVE INCOME (LOSS) FOR THE PERIODNET INCOME (LOSS) FOR THE PERIODReclassification on realization of gain on sale of investmentLOSS BEFORE OTHER ITEMS

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Share Number Share Capital Amount Contributed Surplus Accumulated Other Comprehensive Income Deficit Total Balance July 31, 2007 54,260,398 26,162,381$ 710,238$ -$ (21,290,096)$ 5,582,523$ Adjustment to opening balance change in accounting policy (Note 1) 446,188 446,188 Reclassification on realization of gain on sale of investments (771,060) (771,060) Revaluation of investments to fair value at end of period 1,648,414 1,648,414 Stock based compensation 36,500 36,500 Net income for the period 733,976 733,976 Balance April 30, 2008 54,260,398 26,162,381$ 746,738$ 1,323,542$ (20,556,120)$ 7,676,540$ (Unaudited)SOLOMON RESOURCES LIMITEDCONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDER EQUITY

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2008200720082007OPERATING ACTIVITIESNet income / (loss) for the period338,086$ (48,863)$ 733,976$ (1,921,315)$ Items not involving cash Write down of investments - - - 117,824 Stock based compensation - 129,200 36,500 129,200 Unrealised exchange gains(17,686) - (17,686) - Write off expenditures on resource properties - 30,246 143,366 1,722,156 Recovery of expenditures previously written off on resource properties - - (114,000) - Gain on sale of investments - (228,156) (898,690) (450,715) Operating cash flow320,399 (117,573) (116,535) (402,850) Changes in non-cash working capital Accounts payable and accrued liabilities (106,020) 5,724 (88,006) 44,592 Assets held for sale 886,000 - 908,000 - Provision for rehabilitation of tenements (400,472) 4,708 (410,416) (142,838) Prepaid expenses 2,980 11,138 72,606 443 Accounts receivable & GST receivable (5,426) (19,755) 1,331 (7,802) 377,063 1,815 483,515 (105,605) Cash from (used in) operating activities 697,462 (115,758) 366,980 (508,455) FINANCING ACTIVITIES Proceeds from the issue of common shares (net) - 636,094 - 1,978,053 INVESTING ACTIVITIES Proceeds on sale of investments - 479,426 1,291,755 727,117 Recovery of / (increase in) tenement bond (18,016) (5,112) (11,592) 141,461 Acquisition of investments in exchange for assets held for sale (947,700) - (947,700) - Purchase of equipment (net) (26,488) - (29,748) - Net expenditures on resource properties(286,403) (312,638) (2,280,471) (576,912) Cash provided by (used in) investing activities (1,278,607) 161,676 (1,977,756) 291,666 Inflow / (Outflow) of cash and cash equivalents (581,145) 682,012 (1,610,776) 1,761,264 Cash and cash equivalents: - beginning of period1,404,449 1,382,109 2,434,080 302,857 - end of period823,304$ 2,064,121$ 823,304$ 2,064,121$ Non cash items Investments received for property payments -$ -$ 114,000$ 338,000$ Supplemental InformationIncome tax paid-$ -$ -$ -$ Interest paid-$ -$ -$ -$ April 30April 30(Unaudited)CONSOLIDATED STATEMENT OF CASH FLOWSSOLOMON RESOURCES LIMITEDThree Months EndedNine Months Ended

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The accompanying interim financial statements have been prepared in accordance with Canadian generally accepted accounting principles for interim financial information and accordingly do not include all disclosure required for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered for a fair presentation have been included. Operating results for the nine months ended April 30, 2008 are not necessarily indicative of the result that may be expected for the full year ending July 31, 2008. These statements should be read in conjunction with the July 31, 2007 annual financial statements, including the accounting policies and notes thereto, included in the Annual Report for the year ended July 31, 2007. These financial statements reflect the same significant accounting policies as those described in the notes to the audited financial statements of Solomon Resources Limited for the year ended July 31, 2007.

Adoption of New Accounting Standards at August 1, 2007

i) Financial Instruments- Recognition and Measurement (Section 3855) This standard sets out criteria for the recognition and measurement of financial instruments for fiscal years beginning on or after October 1, 2006. This standard requires all financial instruments within its scope, including derivatives, to be included on a Company’s balance sheet and measured either at fair value or, in certain circumstances when fair value may not be considered most relevant, at cost or amortized cost. Changes in fair value are to be recognized in the statements of operations and comprehensive income. All financial assets and liabilities are recognized when the entity becomes a party to the contract creating the item. As such, any of the Company’s outstanding financial assets and liabilities at the effective date of adoption are recognized and measured in accordance with the new requirements as if these requirements had always been in effect. Any changes to the fair values of assets and liabilities prior to October 1, 2006 are recognized by adjusting opening deficit or opening accumulated other comprehensive income. All financial instruments are classified into one of the following five categories: held for trading, held-to-maturity, loans and receivables, available-for-sale financial assets, or other financial liabilities. Initial and subsequent measurement and recognition of changes in the value of financial instruments depends on their initial classification.

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ii) Comprehensive Income (Section 1530) Comprehensive income is the change in shareholders’ equity during a period from transaction and other events from non-owner sources. This standard requires certain gains and losses that would otherwise be recorded as part of the net earnings to be presented in other "comprehensive income" until it is considered appropriate to recognize into net earnings. This standard requires the presentation of comprehensive income and its components in a separate financial statement that is displayed with the same prominence as the other financial statements. Accordingly, the Company now reports a statement of comprehensive income (loss) and includes the account "accumulated other comprehensive income" in the shareholders’ equity section of the consolidated balance sheet. The adoption of Sections 3855 and 1530 impacts how the Company records its investments which are now classified as a financial instrument "available for sale" and thus has to be reported at fair value. The adjustment to opening balance to recognize this was $446,188, any further unrealized gains or losses in the nine months ended April 30, 2008 are reported in the current period.

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Subsequent to April 30, 2008 1,000,000 shares in Integra Mining Limited have been sold at prevailing market prices on the Australian Securities Exchange. When received the proceeds are expected to approximate $500,000 (Cdn).

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March 3, 20100.36$ 100,000 June 5, 20100.40$ 50,000 June 27, 20100.35$ 250,000 November 3, 20100.25$ 20,000 November 18, 20100.31$ 50,000 January 13, 20110.36$ 820,000 April 20, 20110.36$ 250,000 April 5, 20120.36$ 760,000 January 9, 20130.36$ 200,000 2,500,000 Number of SharesExercise PriceExpiry Date

December 29, 20080.50$ 2,101,606 February 28, 20090.75$ 1,166,666 July 5, 20090.50$ 3,363,016 6,631,288 Expiry DateExercise PriceNumber of Warrants