Solomon Options Four Copper and Gold Projects in Mongolia

Solomon Resources Ltd. (SRB:TSX-V): is pleased to announce the signing of a definitive Earn-in Agreement with Asia Gold Corp. (ASG: TSX-V) and Gallant Minerals Limited, that provides Asia Gold with the right to earn from Solomon Resources up to a 70% interest in the Toste T-1, Tsakhir, Nurag Uul and Bor Khairkhan projects in the Gobi region of southern Mongolia. Solomon Resources has acquired the properties through its option agreement with Gallant Minerals.

Vancouver, Canada (PRWEB) October 2, 2005 -- Solomon Resources Ltd. (SRB:TSX-V): is pleased to announce the signing of a definitive Earn-in Agreement with Asia Gold Corp. (ASG: TSX-V) and Gallant Minerals Limited, that provides Asia Gold with the right to earn from Solomon Resources up to a 70% interest in the Toste T-1, Tsakhir, Nurag Uul and Bor Khairkhan projects in the Gobi region of southern Mongolia. Solomon Resources has acquired the properties through its option agreement with Gallant Minerals.

The four projects comprise nine Mineral Exploration and Mining licenses covering 31,258 hectares and are strongly prospective for porphyry copper-gold and epithermal gold mineralization. Previous work by Gallant Minerals has identified mineralized systems on all four projects and Asia Gold plans to start exploring these targets in October.

Keith Laskowski, President of Solomon stated: We are pleased to be working with Asia Gold on these projects, as it allows Solomon to focus on our primary gold projects, in Mongolia. We are drilling now at Bayantsagaan, and conducting geophysical surveys at Onon, in preparation for drilling later this fall. Asia Gold is very active in the South Gobi region, and their expertise is welcome on these prospective projects. The Agreement with Asia Gold also contributes towards Solomons obligations in the Gallant option agreement."

The Earn-In Agreement

The Earn-in Agreement provides Asia Gold with the right to earn a 70% interest in the four projects in two stages. The exercise of the First Earn-in Right will earn Asia Gold a 55% interest in all of the projects. The Second Earn-in Right, which is exercisable on a project by project basis, will earn Asia Gold a further 15% interest, for an aggregate 70% interest.

To exercise the First Earn-in Right Asia Gold must pay Solomon an aggregate of US$325,000, issue to Solomon common shares of Asia Gold valued at US$600,000 and fund and carry out US$1.8 million of exploration within three years from the closing date of the definitive Earn-in Agreement. As part of the annual work commitment, Asia Gold is also responsible for the payment of all license fees.

To exercise the Second Earn-in Right, Asia Gold must fund and carry out US$2.5 million of exploration on each of the projects which it intends to retain within five years from the closing date of the definitive Earn-in Agreement. Asia Gold also has a first right to acquire an additional 10% interest, for an aggregate 80% interest, should Gallant convert its 20% interest in any project to a net smelter royalty, pursuant to an underlying option agreement between Solomon and Gallant. Ivanhoe Mines and BHP Billiton own approximately 47% and 7% respectively of the issued and outstanding shares of Asia Gold.

Asia Gold will pay Solomon US$50,000 cash and 100,000 Asia Gold common shares upon closing. For further information on the terms and conditions of the Earn-in Agreement see Solomons News Release dated August 18, 2005.

Qualified Person under National Instrument 43-101

David Tupper, P.Geol. a 'qualified person for the purposes of National Instrument 43-101, has reviewed the information contained in and supervised the preparation of this news release.

Forward Looking Statements

Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Solomon Resources Ltd. Actual results may differ materially from those currently anticipated in such statements

About Solomon Resources Ltd.

Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of gold properties world wide. The Company is managed by a proven team of exploration geologists credited with the discovery and/or development of a number of significant deposits in the world, including the SNIP, Eskay Creek, and Brewery Creek deposits in Canada, the Segala gold deposit in Mali, the Chimney Creek, Mule Canyon, Ruby Hill, Mesquite, and Ortiz gold deposits in the United States, the Gosowong deposit in Indonesia, and the Cadia East deposit in Australia.

Solomon has significant gold exploration projects in Mongolia and Australia. Solomons shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomons website at www.solomonresources.ca.

On Behalf of the Board of Directors of

SOLOMON RESOURCES LIMITED

Keith Laskowski", MSc.

President and Chief Operating Officer

Contact Information -    

Keith A. Laskowski, President

Phone:    604-669-6656         

Direct: 720-272-6224

Fax:    604-684-9877

The TSX Venture Exchange does not accept responsibility for the

adequacy or accuracy of this release.

###