2008-10-27 19:19 ET - News Release

Mr. Randall Rogers reports

SOLOMON REPRICES PRIVATE PLACEMENT

Solomon Resources Ltd., due to worldwide adverse market conditions, has reduced the price of the units in its private placement to five cents per unit. It still wishes to raise up to $1-million through the private placement -- to be used for exploration and general working capital -- and the placement will now involve the issuance of up to 20 million units. Each unit will consist of one common share and one non-transferable share purchase warrant. The exercise price of the warrants has been similarly reduced and each warrant will now be exercisable to purchase a further common share for 10 cents for a period of one year.

Finders' fees will be paid in units to eligible finders on that portion of the funds raised from investors introduced by the finders. The fees will consist of 7 per cent in cash and warrants to purchase that number of shares equal to 15 per cent of the units purchased by such investors.

The financing is subject to regulatory approval.