Drilling & Exploration Update

Solomon Gold PLC 19 April 2006 19 APRIL 2006 Solomon Gold plc Drilling and exploration update Solomon Gold plc ('Solomon Gold' or 'the Company' AIM:SOLG) the copper and gold mining exploration company operating on the island of Guadalcanal in the Solomon Islands, today announces a drilling and exploration update of its licence areas. The Company has four exploration licences (Mbetilonga, Koloula, Sutakiki and Central Guadalcanal) on the island of Guadalcanal, the largest in the Solomon Islands. MBETILONGA The Company has commenced drilling operations on the Hambusimaloso prospect at Mbetilonga, south of Honiara after logistic delays resulting from serious weather restrictions as a result of regional cyclones. A number of holes are planned to test the area which includes a zone of 155 m @ 1.3% copper encountered during surface trenching in 1997. Drilling commenced on 29th March 2006. After recent encouragement from mapping in the area and the need to test beneath widespread soil cover, Solomon Gold intends to upgrade the helicopter support for the project to enable the addition of a further light weight drilling rig. Numerous targets have emerged from field mapping and sampling activities in the Mbetilonga area in the last month and these may be rapidly tested by shallow drilling with the proposed additional rig. Additional geologists have been engaged to extend field mapping and sampling programmes. Solomon Gold has eight geologists working in the field on this project area and expects to increase that presence in the near future. Field mapping and sampling on the Mbetilonga project to date has focused at Hambusimaloso, Chipakalau, Hahala, Vatuchichi, Vurakuvekuve, Chariaravu and Vuralaggoma prospects. These prospects lie on north east trending mineralised fault zones in the Mbetilonga Basin. The most important is the zone from Hambusimaloso and Hahala to Vatuchichi, known as the Hambusimalsos mineralised corridor HAMBUSIMALOSO PROSPECT Drilling has commenced at the first of four drill hole locations at Hambusimaloso to test north east trending supergene (secondary) and primary copper mineralisation over a 1km2 zone. Solomon Gold geologists have identified both porphyry related and stratabound / volcanogenic massive sulphide targets in the Hambusimaloso mineralised corridor. A copper, zinc, molybdenum soil anomaly was outlined in the headwaters of Hambusimaloso Creek and along with the presence of suspected quartz diorite porphyry on nearby drill pads is considered indicative of the presence of porphyry mineralisation. Drillhole DDH HAM 005 is proposed to test this target. In addition to the porphyry prospectivity identified on the basis of molybdenum anomalism and aeromagnetics the sediment - volcanic package at Hambusimaloso is prospective for stratabound and volcanogenic massive sulphide deposits in the brecciated host rocks, particularly at the upper and lower contacts. Detailed geological mapping by Solomon Gold field crews at Hambusimaloso has revealed a sequence of sediments overlain by volcanic rocks with prominent north east trending faults cutting these host rocks. Copper, lead, zinc mineralisation is related to faulting particularly at the upper and lower boundaries of the altered agglomerates. The faults are open and fractured at surface resulting in landslips containing mineralised boulders. The anomalous trenches in the headwaters of Kopa creek are landslips containing copper (chalcopyrite, bornite, chalcocite) rich float boulders. Trenches in Kopa Creek at the headwaters of Hambusimaloso Creek previously recorded 155m at 1.3% copper in sheared and altered host sediments and volcanics in which landslips had developed on mineralised faults. * VATUCHICHI PROJECT Visibly anomalous skarn copper-zinc mineralisation and widespread silicification associated with epithermal quartz veining has been mapped over a 1,000 x 600 metre area at Vatuchichi and is open to the east. Two diamond drill sites are now being prepared to test the subsurface extent of the skarn and epithermal mineralisation. * HAHALA PORPHYRY Detailed follow up along the north east trending mineralised trend linking the Hambusimaloso porphyry copper prospect to the Vatuchichi epithermal gold prospect has confirmed the presence of significant clay-quartz-pyrite- chalcopyrite alteration and mineralisation in a narrow exposure of andesitic porphyry at high elevations in the Livobili Ck area between Hambusimaloso and Vatuchichi. The area was delineated as a high priority target from geophysical remodelling of aeromagnetic and radiometric data previously held by Solomon Gold's wholly owned subsidiary, ARM. A classic bullseye shaped aeromagnetic signature, traditionally diagnostic of a porphyry system has been backed up by field observations and ARM geologists have reprioritised the 'Hahala Porphyry' for deep drill hole testing as soon as is logistically possible, following the completion of the Hambusimaloso holes. The targeted porphyry is generally hidden under tilted sedimentary cover and shows a very limited float trail although previous company float sampling returned an assay of 55g/t Au less than 150m from the exposure. *CHARIARAVU PROSPECT In Chariaravu Creek, chalcopyrite (primary) and chalcocite (secondary) copper mineralisation has been observed in areas of complex faulting. High potassium and intense aeromagnetic signatures in the area provide geochemical and geophysical support for the presence of a proposed quartz diorite porphyry. The southern ridge above Chariaravu and north of Loloto Creeks also represents an east-west trending zone of alteration over the quartz diorite porphyry, which is prospective for copper and gold mineralisation. Extensive gridding for soil sampling and mapping is being carried out in the area to define drill targets over this area. *VURALAGGOMA PROSPECT Visually promising skarn copper-zinc mineralisation and epithermal gold mineralisation has been mapped in the Vuralangomma prospect on the east side of the Mbetilonga caldera. Assays are awaited for samples taken from this area. Two diamond drill sites are now being prepared. The first hole is planned to test the subsurface extent of the high grade epithermal gold mineralisation centred at Rambo Creek, and the second hole is planned to test the skarn mineralisation beneath an area where Solomon Gold geologists encountered what appear to be highly mineralised skarn rocks in a fresh landslip. Two holes drilled by Utah development Corporation in 1970 intersected low grade copper mineralisation in this area. Solomon Gold drill holes will target high grade copper mineralisation below the landslip area. GENERAL Widespread pyrite - zinc mineralisation is interpreted to be indicative of the peripheral zones to a significant and complex porphyry copper gold system in the Mbetilonga project area. Detailed studies of the style of mineralisation is expected to indicate the likely depth and distance to the primary porphyry system. The presence of visible zinc, lead and pyrite mineralisation in dirty limestones in the vicinity of these prospects supports the potential for high grade skarns. SUTAKIKI At the Company's Sutakiki project, preparations are currently underway to finalise custom ceremonies prior to the commencement of field work in the Sutakiki Valley. A Custom Ceremony to formalise access will be held at the end of April after which field mapping and sampling will commence. The area is prospective for bulk epithermal gold and porphyry copper gold mineralisation. Previous work by Newmont in 1989 identified the area as being prospective for a significant porphyry system. KUMA Exploration Licence (application) Access negotiations are continuing at Kuma. Solomon Gold expects to finalise access to the Kuma valley by the end of April. The area is prospective for porphyry copper gold mineralisation and exhibits oxidised sulphide mineralisation in landslips evident from the air. No previous geochemical sampling has been conducted by Solomon Gold or other workers in the area. The area of mineralisation evident from the air is estimated to cover some 4km2 Solomon Gold expects the tenement to be granted on completion of the access agreements, following which field work will commence. KOLOULA At the Company's Koloula project, drill targets and pads have been selected but these and targets in the central tenement have been ranked behind more accessible targets at Mbetilonga. Follow up work at Poleo has been delayed owing to higher priority targets in the company's granted tenements. GENERAL OPERATING STABILITY General elections were held in Solomon Islands on 5 April. Following the election results the law and order situation in Honiara has unfortunately decayed. The Regional Assistance Mission to Solomon Islands ('RAMSI') officers are engaged in efforts to restore law and order. Solomon Gold is not able to comment on the timing of any outcomes in this respect. At present there is no threat to Solomon Gold operations and field operations and drilling are continuing. -ends- For more information please contact: Nicholas Mather, Chief Executive Tel +61(0) 7 33030680 / +61 (0) 417 880448 Solomon Gold Plc nmather@solomon.com Kevin Tomlinson Tel: +44 (0)20 78987552 Williams de Broe kevin.tomlinson@williamsdebroe.com Abby Singleton Tel: + 44(0) 207 429 6606/+44 (0) 7739 461 061 Conduit PR abigail@conduitpr.com BACKGROUND Solomon Gold plc's projects are located on the island of Guadalcanal in Solomon Islands, in the southwest Pacific to the east of Papua New Guinea. The island of Guadalcanal is located on the Pacific Rim of Fire, known for its large porphyry copper-gold ore bodies. The Rim of Fire includes the Andean belt in Chile, the south-western USA cordillera, western Canada, Japan, the Philippines, Indonesia and Papua New Guinea. In the south-west Pacific, the Rim of Fire hosts numerous ore bodies each of which have in excess of 40m ounces of Gold Equivalent Value. These ore bodies include several in Papua New Guinea which are considered by the Directors to occur in a geological environment similar to that seen on Guadalcanal. ARM, a 100% subsidiary of Solomon Gold, has held prospecting licenses over these areas since 1995 and between 1996 and 1998 conducted detailed reconnaissance mapping and sampling exploration programme in the area. The tenements are valid until 10 November 2008, with extensions of up to a further four years available at the option of the Company. Twenty-two targets have been identified from earlier works, twelve of which are considered to have immediate potential for follow-up work. Four of these targets had been followed up between 1996-98 and significant porphyry copper-gold mineralisation associated with two intrusive rock suites was identified at Mbetilonga and Koloula-Sutakiki. ARM's tenement areas on Guadalcanal cover two main intrusive centres, the most prospective areas in Guadalcanal for copper-gold porphyry. Both areas contain active and strong mineralising systems rich in gold and/or copper. Within the Mbetilonga intrusive centre, the northern boundary of which lies only 8km south of the capital Honiara, a portfolio of high grade copper and high grade epithermal gold prospects are preserved within the Mbetilonga Basin, a complete metalliferous system covering approximately 56km2. South-east of the Mbetilonga intrusive centre, the more deeply eroded Koloula-Sutakiki intrusive centre is concentrated at the head of the Koloula and Sutakiki Valleys. Sampling in this area has identified extensive gold mineralisation in a halo around the margins of the Koloula intrusives. Gold/silver mineralisation at Sutakiki is considered to be epithermal and emplaced peripherally to a large porphyry system located in the south-west corner of the Sutakiki tenement area and the north-east corner of the Koloula tenement area. The copper mineralisation identified at Chikora and Hambusimaloso is representative of supergene copper enrichment zones. The Directors and management have successful records in the discovery of ore bodies and extensive experience in the fields of mineral exploration and assessment. Solomon Gold's senior management also has experience in conducting business and operations in Solomon Islands, with a demonstrated ability to liaise with both local government and inhabitants. David Jelley, as Executive Director (Operations), is based in Honiara, the Capital of the Solomon Islands. This information is provided by RNS The company news service from the London Stock Exchange

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