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Message: SRB Reports First Two Phases of Mongolian Diamond Drill Program Completed

SRB Reports First Two Phases of Mongolian Diamond Drill Program Completed

posted on Sep 08, 2008 06:11AM

Solomon Resources Limited

Unit 3 – 2860 Smith Drive, Armstrong, British Columbia, V0E 1B1, CANADA

Telephone (250) 546-4772 Telecopier (250) 546-6656

Web Site: www.solomonresources.ca

NEWS RELEASE

Solomon Reports First Two Phases of Mongolian Diamond Drill Program Completed

Awaits Assay Results from Baruunbayan Uranium Program

September 8th 2008 Trading Symbol: TSX-V.SRB

Armstrong, BC – Monday September 8th 2008. Solomon Resources Limited (SRB: TSX-V) is pleased to report that the first two phases of diamond drilling have been completed on the Baruunbayan Uranium Project in Mongolia. In total thirty-one holes totalling 6457.95 meters of drilling were completed on this project in 2007 and 2008.

Background:

Solomon’s Baruunbayan Property and the nearby Dulaan Uul Property of Cogegobi XXK (an Areva subsidiary) lie within the broad Cretaceous Ooshiin Govi Basin in south central Mongolia, located approximately 650 kilometers south of Ulaanbaatar and 135 kilometers from the Chinese border.

The Baruunbayan project covers 248,300 hectares and is one of the four mineral tenures totalling 356,603 hectares held by Solomon in Mongolia. In addition, Solomon has applied for other exploration licences in the Ooshiin Govi Basin in the area between the Baruunbayan tenures and the Cogegobi Duulan Uul tenures

The 2007 Baruunbayan exploration program was designed as a comprehensive follow-up investigation of historical Soviet-era airborne spectrometer anomalies in the Ooshin Govi Basin and surrounding terrain. The 2007 program included data compilation, geological mapping, trenching and completion of nine diamond drill holes for a total of 1563.75 meters. Solomon staff geologists collected and digitized a significant data package of historical exploration data including hydrogeological surveys and drilling, records of oil exploration, regional and local geological mapping and regional geochemical and spectrographic surveys.

2008 Exploration Program:

The first two phases of the 2008 Baruunbayan exploration program were designed to follow-up encouraging results reported in the 2007 campaign. The 2008 diamond drill program included twenty-two drill holes totalling 4894.2 meters and was contracted to Falcon Drilling Mongolia LLC. Down-hole gamma surveys were conducted on all drill holes and 892 assay samples were obtained from lithologically permissible intersections. A strict regime of sample custody was maintained throughout to ensure data integrity and samples were processed at SGS Mongolia LLC for shipment to ALS-Chemex in North Vancouver, Canada for assay.

A period of civil unrest leading up to and following the Mongolian general elections appears to have caused a corresponding slowdown in the normal operations of the Mongolian government bureaucracy and Solomon endured a substantial delay in processing the assay samples through the various agencies which regulate international exports. At this time, the samples for the entire 2008 diamond drill program have been received at ALS-Chemex and complete assays results are expected during the next few weeks.


Solomon’s field crews have now returned to the Mongolian capital city of Ulaanbaatar and are compiling the data gathered in the first two phases of the 2008 exploration program. Once the assay results are known from the recent field program, Solomon will be make an assessment of the complete data package to consider the next phase of this project.

Drill Hole

Easting UTM

Northing UTM

Elevation (meters)

Collar Dip (degrees)

Length (meters)

DDH-BB-10

344857

4861053

763

(-) 90

230.55

DDH-BB-11

346767

4861069

774

(-) 90

279.55

DDH-BB-12

347603

4857573

785

(-) 90

201.10

DDH-BB-13

343050

4857597

763

(-) 90

276.45

DDH-BB-14

352175

4852152

792

(-) 90

271.15

DDH-BB-15

341152

4865250

758

(-) 90

301.00

DDH-BB-16

335646

4860639

752

(-) 90

129.80

DDH-BB-17

336450

4863399

768

(-) 90

255.25

DDH-BB-18

344850

4868351

754

(-) 90

201.95

DDH-BB-19

349909

4854844

786

(-) 90

268.55

DDH-BB-20

345323

4861841

760

(-) 90

235.20

DDH-BB-21

335202

4871970

782

(-) 90

185.00

DDH-BB-22

334103

4866980

786

(-) 90

294.50

DDH-BB-23

340596

4861684

753

(-) 90

149.45

DDH-BB-24

348801

4871175

759

(-) 90

132.10

DDH-BB-25

354987

4854791

776

(-) 90

45.30

DDH-BB-26

347404

4864323

770

(-) 90

230.10

DDH-BB-27

346803

4868602

756

(-) 90

250.40

DDH-BB-28

357285

4870622

818

(-) 90

201.20

DDH-BB-29

345223

4865071

753

(-) 90

131.50

DDH-BB-30

343951

4861800

752

(-) 90

252.75

DDH-BB-31

335375

4870746

784

(-) 90

176.85

DDH-BB-32

346348

4863068

761

(-) 90

194.50

Table I. Solomon Resources 2008 Baruunbayan Drill Data

Analysis:

Solomon’s President Randy Rogers observed: “With the first two drilling phases of the 2008 campaign completed we have initiated a comprehensive review of our exploration results. Solomon has assembled a substantial data package which includes Soviet-era airborne spectrometry, seismic surveys and hydrogeological surveys which together with the geophysical surveys and mapping conducted by Solomon field crews in 2007 and 2008 provide us an excellent knowledge base from which to work. Cogegobi’s discovery of what appears to be significant large tonnage low grade rollfront uranium mineralization northeast of our Baruunbayan Project has generated significant interest in this previously unknown uranium district.”

Qualified Person:

Randy Rogers, M.Sc., P.Geol. a “Qualified Person” for the purposes of National Instrument 43-101, Standards for Disclosure for Mineral Projects of the Canadian Securities Administrators, and the President and Chief Operating Officer 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) is 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 Ltd. of Ancaster, Canada) and ALS Chemex in North Vancouver, Canada.

  • Laboratory results are reported in parts per million uranium (ppm).

    • For values in percent U3O8, ppm U is multiplied by a conversion factor of 0.0001179 (1 ppm U 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 lbs).
    • For conversion to lbs/ton U3O8, ppm U is multiplied by 0.002358 (0.0001179 x 20)

  • In addition to internal checks and standards provided by the labs, Solomon includes blind standard, 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: [email protected]

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

-30-

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