Exploration Update

Solomon Gold PLC
29 February 2008

29 February, 2008

Announcement to London Stock Exchange

Solomon Gold plc



EXPLORATION PROGRESS GUADALCANAL, SOLOMON ISLANDS - FOCUS ON SUTAKIKI



The directors of Solomon Gold are pleased to advise of progress on the Company's
gold and copper exploration programs on Guadalcanal, Solomon Islands.



In November 2007 Solomon Gold announced the discovery of a high grade gold zone
on its Sutakiki prospect, 30 km south east of the capital Honiara. An
intersection of 32 metres at a grade of 9.45 g/t gold from a depth of 108 metres
in drillhole SK11 was reported. Since that discovery Solomon Gold has been
engaged in a detailed mapping, sampling and surveying program in the environs of
the SK11 drill pad.  In addition, further drilling activities are being
conducted to follow up the SK11 discovery.



Gold anomalous mineralisation has been encountered over an extent of some 800
metres from the Vurakindi Creek headwaters west of SK11 to the Tapalata Creek
occurrence, east of SK11. The mapping and sampling program has established
structural orientation of the mineralized structure in rough terrain and
identified extensive mineralisation not constrained by structures, in the lime
rich sediments and volcanics which host the gold mineralising system. This
style, known as 'skarn' mineralisation is typical of a significant porphyry
system and mineral studies conducted on behalf of the Company have supported
that genetic model for the Sutakiki gold occurrence.



Following the report on the gold discovery in SK11, Solomon Gold completed SK 11
to a depth of 500 metres and has drilled two more holes at Sutakiki. Additional
zones of gold mineralisation were encountered in SK 11 and provide support for
the main intersection (7 metres @ 2.37 g/t gold from 144 metres and 4 metres @
3.08 g/t from 154 metres). SK12 was drilled to intersect the gold bearing
structure to the south west, but had to be abandoned before the target depth due
to hole instability. SK 13 was drilled from a drill pad located 15 metres nw of
SK 11 and 12 and intersected the target fault structure at a depth of 158
metres. The zone was 64 metres thick in the drillhole and appears to have a true
thickness of approximately 30 metres. Mineralisation is not as intense as in
SK11 and Solomon Gold does not expect gold grades to be as high in SK13 as in
SK11. Assays are awaited.



SK 14 was drilled from the SK13 pad to the south east (135 degrees) and
intersected a zone of mineralisation very similar in appearance to the gold
bearing zone in SK11.  The intersection was made between 207 and 220 metres
depth. A zone of intermittent fracturing and quartz veining (veins up to 0.5m
thick was also encountered between 99m and 126m (27 metres thick).  The hole is
still drilling ahead to a planned target depth of 300 metres.



Photographs of the cores from each hole have been posted on the Solomon Gold
website www.solomongold.com.  Assay results for the entire mineralized section
in SK13 and the available drilled mineralised section of SK14 are awaited.



Following the encouraging results to date from Sutakiki, the Company has moved
one of the drilling rigs currently in the Koloula Valley to the south on the
Mbina and Chikora prospects, to Sutakiki. Solomon Gold has established six more
drilling pads covering the 800 metre extent of visible surface mineralisation at
Sutakiki and ultimately expects, barring any significant discovery in the
Koloula Valley, also to relocate the third rig to Sutakiki.



Solomon Gold drilling operations are currently achieving 400 metres per rig per
month and it is expected that focus in the Sutakiki area will lead to further
operating efficiencies. The Company continues to expect to drill 18,000 metres
in calendar 2008. Drilling at the Mbina and Chikora targets has so far not
identified any significant mineralisation following the veins intersected in
KL01 which reported up to 6.77 g/t gold in 1 metre samples taken across thin
veins.



The Company has executed a contract to collect airborne electromagnetic,
magnetic and topographic data over 2,200 line km (220 km2). The survey area
covers a 6x20 km strip over the strongly mineralised Guadalcanal transform
structure linking Mbina, Sutakiki and the 2 m oz Gold Ridge deposit (not an
asset of Solomon Gold) 13 km north of Sutakiki.



The survey will also cover 50 km2 over the Mbetilonga area, 15 km south of
Honiara. The survey is expected to identify high sulphide content rocks, similar
to those encountered at Sutakiki.



About Solomon Gold



Solomon Gold holds extensive tenements on the main Island of Guadalcanal,
Solomon Islands, for minerals exploration, focusing on copper and gold rich
porphyry systems and high grade epithermal gold mineralisation. The Company
listed on AIM on 10 February 2006 after a £5m capital raising. The Company has
identified approximately 30 km2 of mineralisation indicative of significant
porphyry copper gold and epithermal gold mineralisation systems and is currently
conducting a three rig program drilling key targets. Solomon Gold believes the
area to host potential for the discovery of a world class copper gold porphyry
system similar to other large orebodies in the region such as Ok Tedi, Grasberg
and Bougainville. The Company is staffed by an active team of expatriate and
Solomon Island geologists and field hands, supported by integrated logistics
support services.



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.



In December 2007 Solomon Gold raised a further £3.5m to continue working on the
Guadalcanal projects.



It is the current intention of Solomon Gold to define a world class porphyry
copper gold deposit with an overprinted high grade 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 between Sutakiki and Chikora.



The high grade gold mineralisation encountered in the recent drilling at
Sutakiki is characteristic of high grade gold deposits related to mineralised
transform structures in Papua New Guinea and the Indonesian archipelago.



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.



By order of the Board

DP Cornish

Company Secretary



Contacts:



Mr Duncan Cornish

Secretary

Tel: [phone] or [e-mail]



Mr Stephen Weir

RFC Corporate Finance

Nominated Advisor

Tel [phone] or [e-mail]


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