Box 938, Vernon, B.C., Canada
Box 938, Vernon, B.C., Canada Phone (778) 475-5551 or (866) 831-6666; Fax (778) 475-5541 Web Site: www.solomonresources.ca
NEWS RELEASE
Solomon Increases Private Placement to $750,000
July 19th, 2012 Trading Symbol: TSX-V.SRB
Vernon, B.C. - Thursday, July 19th, 2012. Solomon Resources Limited (SRB: TSX-V) reports that due to market interest it has increased the size of its private placement announced July 13, 2012 from $500,000 to $750,000 and the private placement will now consist of the issuance of up to 15,000,000 units at $0.05 per unit.
Each unit will consist of one common share and one non-transferable share purchase warrant to purchase a further common share at $0.10 for two years. The expiry date of all warrants may be reduced to 25 trading days from notice thereof if the closing price of Solomon’s shares equals or exceeds $0.25 for 20 consecutive trading days after the expiry of the four month restricted resale period.
The private placement is subject to TSX Venture Exchange approval.
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.
Solomon’s business model is that of a Project Generator. To build shareholder value, the Company intends to acquire highly prospective mineral tenures in stable jurisdictions with the objective of adding value through grassroots exploration and target refinement and then seeking option or joint venture partners through to production.
For additional information visit Solomon’s website at www.solomonresources.ca or contact:
Randall S. Rogers M.Sc., P.Geo.
President and Chief Executive Officer Phone (778) 475-5551
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accept responsibility for the adequacy or accuracy of this release.
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