Solomon drills 2,414 m at Baruunbayan, awaits results

2008-06-02 09:39 ET - News Release

Mr. Lawrence Nagy reports

SOLOMON CONTINUES DRILL PROGRAM AT BARUUNBAYAN URANIUM PROJECT IN MONGOLIA; DOWNHOLE GAMMA SPECTROMETER ANOMALIES REPORTED IN TWO DRILL HOLES OF THE 2008 DRILL CAMPAIGN

Solomon Resources Ltd.'s diamond drilling continues on the Baruunbayan uranium project in Mongolia.

Solomon holds seven mineral licences covering 356,603 hectares in Mongolia comprising four distinct properties: Baruunbayan, Zamtiin Gol, Airag and Uvurkhangai properties.

Background

Solomon's Baruunbayan property and the adjacent Dulaan Uul property of Cogegobi XXK (an Areva subsidiary) lie within the Unegt depression, a broad basin approximately 100 kilometres in length and 60 kilometres in width extending from the Solomon tenures in the southwest to the Cogegobi tenures in the northeast.

Solomon conducted a program of exploration in 2007 on the Baruunbayan property and has previously reported the results of that drill program (news release in Stockwatch dated April 9, 2008), including an intersection of reduced dark grey to black siltstone from 123.5 to 130.5 metres depth in DDH-BB-8 in which two high gamma ray readings were observed between 123.5 to 126.5 metres (450 cps total count (TC)) and 128.5 to 130.5 metres (180 cps TC).

Assay results from this section of drill hole DDH-BB-8 returned a three-metre interval of 0.02 per cent U3O8 from 124.2 metres to 127.2 metres in depth.

The 2008 drill program is designed to test the stratigraphy and uranium mineralization potential of a broad area within the Ooshiin Govi basin, located at the southwestern end of the Unegt depression.

Solomon's president, Randy Rogers, director Bill Lindqvist and consultant Frank Hassard, PEng, have recently returned from Mongolia where they conducted a due-diligence review of the field program and planned drilling campaign. Ten widely spaced drill holes have been completed to date for a combined depth of 2,414 metres of a 5,000-metre drill contract. Favourable stratigraphy has been observed in the majority of the holes drilled to date in the 2008 drill campaign, and assays are pending for selected sample intervals.

Two drill holes completed in the current campaign returned encouraging downhole spectrometric anomalies.

DDH-BB-14 returned three downhole gamma spikes between 207.3 metres to 209.85 metres (2.55-metre interval) ranging from 140 to 250 cps TC, and the anomalous section was observed to be within permeable unconsolidated conglomerate of the upper Cretaceous Bayanshiree formation.

DDH-BB-17 returned a continuous series of elevated downhole gamma readings from 129.8 metres to 255.25 metres (125.45-metre interval) ranging from 20 cps TC to 200 cps TC and is the most strongly anomalous hole encountered to date with regard to spectrometric readings. DDH-BB-17 ended in fine- to medium-grained sandstone of the lower Cretaceous Khukhteeg formation.

Solomon's president, Mr. Rogers, observed: "The 2008 drill program is well under way, and we have observed significant downhole gamma anomalies in two of the 10 holes drilled to date. We are only halfway through the current drill campaign and continue to gather evidence of mineralization in the Baruunbayan property. Every completed hole adds to our knowledge of the stratigraphic and structural controls that impact mineralization in the Ooshiin Govi basin."

Other fieldwork under way at the Baruunbayan project includes compilation of Soviet-era geological and geophysical data, ground magnetometer and radiometric surveys, detailed geological mapping, and alpha cup surveys.

Qualified person

Mr. Rogers, MSc, PGeol, 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.

Quality assurance/quality control

Solomon has implemented quality assurance and quality control measures in its exploration programs.

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) are 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 Ulan Bator, Mongolia (a subsidiary of Activation Laboratories of Ancaster, Canada), and ALS Chemex in North Vancouver, Canada. Laboratory results are reported in parts per million uranium (ppm).

For values in per cent U3O8, ppm U is multiplied by a conversion factor of 0.0001179 (one ppm U multiplied by 1.179 equals 1.179 ppm U3O8; 10,000 ppm uranium equals 1 per cent uranium; 10,000 ppm U3O8 equals 1 per cent U3O8). For conversion to pounds/ton U3O8, per cent U3O8 is multiplied by 20 (one ton equals 2,000 pounds).

For conversion of ppm U to pounds/ton U3O8, multiply ppm U by 0.002358 (0.0001179 multiplied by 20).

In addition to internal checks and standards provided by the labs, Solomon includes blind duplicate and blank samples. All analytical sample checks and standards are within reasonable limits of error.

We seek Safe Harbor.