Exploration Update

Solomon Gold PLC
05 July 2007

                                                                     5 July 2007

                                Solomon Gold plc


                               Exploration update


Highlights


   •Six holes completed Sutakiki East
   •Best intersection in SK001 - 309 m @ 0.54 g/t gold
   •Strong geophysical signatures in Sutakiki West
   •Strong stream sediment gold signatures Sutakiki West
   •Holes SK007 and 008 reach 433 and 381 m depth on June 26
   •3.45 g/t gold in diatreme breccias indicate strong porphyry system
   •Uluda Egg defines dome over intrusive porphyry - 11 holes for 6600 m
    planned
   •Third drill rig commissioned in Koloula valley, drilling Mbina gold zone.


Solomon Gold has completed the first six diamond drill holes for 3,168 m on the
Sutakiki project, 30 km south east of the capital Honiara on Guadalcanal in
Solomon Islands. Solomon Gold holds a 100% interest in the project area through
its 100% owned subsidiary, Australian Resource Management Pty Ltd.


Maps outlining the drilling programme referred to in this announcement may be
accessed on Solomon gold's website www.solomongold.com


Sutakiki


The Sutakiki project area was highlighted by the occurrence of high order stream
sediment anomalies during surveying by Newmont in 1989 and was followed up by
Solomon Gold in July 2006. The discovery outcrop in the Sutakiki River, some 1.5
km up the Sutakiki River from the early anomalous sample site (73 ppb gold),
yielded gold mineralization of 85 metres @ 0.8 g/t gold. Subsequent mapping and
sampling yielded gold results up to 1090 g/t from quartz vein systems in
Taborora Creek above the discovery outcrop. Regional mapping and sampling
yielded grades up to 65 g/t gold in veins in a zone up to 600 m east of the
discovery zone (Eastern Zone). Drillholes SK001 (as per the table below) to
SK006 inclusive were drilled on the vein system over the Eastern Zone between
December 2006 and mid May and the significant results are tabulated in Table 1.
A total of 3,168m has been drilled in 6 completed holes in the Sutakiki Valley
to date by Solomon Gold.

+---------------+---------------+--------------+---------------+---------------+---------------+
|Drillhole      |From (m)       |To (m)        |Interval (m)   |Gold grade g/t |Copper grade % |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK001          |88             |93            |5              |0.44           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK001          |291            |600           |309            |0.54           |0.135          |
+---------------+---------------+--------------+---------------+---------------+---------------+
|including      |445            |447           |2              |12.43          |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK002          |147            |149           |2              |1.1            |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK002          |167            |168           |1              |0.91           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK002          |198            |201           |3              |3.44           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK002          |302            |303           |1              |1.23           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK002          |389            |392           |3              |1              |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK003          |23             |24            |1              |0.62           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |36             |37            |1              |0.82           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |78             |80            |2              |3.35           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |159            |160           |1              |0.71           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK004          |59             |60            |1              |2.08           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |167            |169           |2              |0.84           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |170            |172           |2              |0.53           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |175            |176           |1              |0.78           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |218            |              |2              |0.52           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |225            |              |1              |0.54           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |250            |              |1              |0.47           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |266            |              |1              |0.73           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK005          |17             |47            |30             |0.5            |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|SK006          |226            |              |9              |0.6            |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |308            |              |4              |0.85           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |319            |              |1              |1.83           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |375            |              |8              |0.55           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |462            |              |6              |0.58           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |483            |              |1              |1.07           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+
|               |491            |              |1              |1.29           |               |
+---------------+---------------+--------------+---------------+---------------+---------------+


Sutakiki West


In early March 2007 the company identified an extension to the mineralized
system up to a further 1.5 km west of the discovery outcrop. For this reason a
drilling program was planned to work westwards to investigate the western half
of the Sutakiki porphyry system (Sutakiki West), to take place after the
assessment of the vein system intersected in SK001. The first of the holes in
the program to test Sutakiki West, drillholes SK 007 and 008 are underway and as
at June 26 were at 433 m and 381 m depth respectively. Initial inspection of
these cores indicates that the intensity of alteration and mineralization of the
host rocks is increasing to the west.


Uluda Egg


The exploration activities continue to return results that indicate that West
Sutakiki may represent a large mineralized porphyry system. West Sutakiki is
characterized by a zone of high order potassium anomalies, coincident with
aeromagnetic features and copper and gold anomalies in rock chip samples which
are evident over an elliptical area of 750 m long (n-s) by 500 m wide (e-w).
Strong potassium anomalies, coincident with magnetic features and gold and
copper anomalism in streams and intrusive or 'diatreme' breccias are features
commonly diagnostic of the presence of mineralized intrusive porphyry systems.
At Sutakiki West, these features are believed to represent the domed top of the
core of a mineralized intrusive porphyry system. This feature has been named the
'Uluda Egg'. The occurrence of high order bulk leach stream sediment anomalies
of 1350 ppb gold, approximately 20 times richer than the original anomaly
downstream, the high potassium anomalies in the area and the coincident
discovery of mineralized intrusive or 'diatreme' breccias assaying 3.45 g/t gold
14.5 g/t silver and 0.17% copper on Vurakidi ( ph 'Vuarkindi') Creek, define the
Uluda Egg as a high priority target area. Drill holes SK009 and SK010 are
targeted to penetrate beneath the core of the potassium anomaly, 375 metres
south east of the Vurakidi intrusive breccia outcrop. Solomon Gold geologists
have identified a series of suitable drill pad locations around the north and
north west sides of the Uluda Egg and a further 7 drillholes SK011 to SK017 are
planned to test the northern half of that feature.


Faulting and shearing on the east-west oriented Suta fault is responsible for
the emplacement of the Sutakiki Vein system in the discovery outcrop, in
Taborora Creek above the discovery outcrop and in Valehailala Creek, running
north of the Sutakiki River from the discovery outcrop. Gold grades up to 2.5 g/
t have been recovered out of banded epithermal high level veins from the top of
Valehailala Creek and a drill pad has been constructed to test the vein system
in this locality.


Third Rig for the Koloula Valley


Solomon Gold has engaged a third drilling rig to test the gold zones on the east
side of the Mbina Porphyry system in the Koloula Valley, south of Sutakiki. Five
holes are planned over the next five months to test a 1.5 km x 300m zone. Recent
mapping and sampling outlined a 1.5 metre wide low temperature epithermal vein,
assaying 9.34 g/t gold, 0.94% copper with high zinc, antimony and tellurium
anomalies in the northern portion of the Mbina zone and this will be tested with
the first drillhole KL 001. Previous rock chip channel samples in the zone have
returned 125 m @ 0.5g/t gold and 0.23% copper along the Koloula River. Following
the Mbina program the rig is scheduled to drill two holes at the Chikora
prospect at the southern end of the Koloula Valley. Previous drill testing at
Chikora was vertical and is thought to have not adequately tested for
mineralization in vertical veins, or gold or molybdenum mineralization. Recent
sampling by Solomon Gold in the area immediately north east of Chikora outlined
free molybdenite mineralization in quartz veins, thought to be related to the
Chikora porphyry.


Contacts:


Nicholas Mather
Chief Executive Officer
[e-mail]
Tel [phone] (mobile)
Tel [phone] (office)


Duncan Cornish
Company Secretary
[e-mail]
Tel [phone] (mobile)


About Solomon Gold plc


The Solomon Gold exploration program on Guadalcanal is based in Honiara where
the company has established an office from which to manage the field program,
including government and landholder liaison, logistics, technical and data
management and sample preparation and despatch centre. Solomon Gold stores a
split half of the cores from the drilling program for future reference and
referee testing and use in future studies including feasibility programs.
Databases are managed in-house and backed up independently and externally. The
exploration program is staffed by both local and highly experienced expatriate
geologists and headed by Mr Jason Ward, Exploration Manager for Solomon Gold and
the local operating subsidiary, Australian Resource Management (A.R.M.) Pty Ltd
('ARM'). Solomon Gold has, through ARM, held licenses over the most prospective
ground on Guadalcanal since 1995 and enjoys the support of the local communities
with which the company has developed mutually cooperative and supportive
relationships over the last ten years.


The program is now augmented by the services of two drilling contractors
operating a total of three rigs for Solomon Gold, and a helicopter service
contract.


It is the current intention of Solomon Gold to define a world class porphyry
copper gold deposit with an overprinted epithermal gold deposit and ultimately
bring it to production. Solomon Gold has access to the required exploration
development and financing skills to achieve this goal. The south western Pacific
Rim of Fire is host to a number of ore bodies which have hosted in excess of 40
million ounces of gold and copper as gold equivalent. These projects exemplify
the potential evident at Sutakiki.


Solomon Gold has 26.5 million shares in issue having completed a capital raising
of £5 million and listing on AIM in February 2006.


Qualified Person


Information in this report relating to the exploration results is based on data
reviewed by Mr Nicholas Mather (B.Sc. Hons Geol.), the Chief Executive Officer
of the Company. Mr Mather is a Fellow of the Australasian Institute of Mining
and Metallurgy who has in excess of 25 years experience in mineral exploration
and is a Qualified Person under the AIM Rules. Mr Mather consents to the
inclusion of the information in the form and context in which it appears.



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            The company news service from the London Stock Exchange   D
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