8th Nov 2007 09:33
Solomon Gold PLC08 November 2007 Solomon Gold plc appoints new Nominated Adviser and Broker The Board of Solomon Gold plc (the "Company") is pleased to announce that it hasappointed RFC Corporate Finance Limited ("RFC") and Hanson Westhouse Limited asNominated Adviser and Broker to the Company respectively. Both appointments areeffective immediately. As part of its appointment, RFC will be issued 500,000, 3 year options tosubscribe for shares in the Company at an exercise price of 20p. About Solomon Gold plc Solomon Gold holds extensive tenements on the main Island of Guadalcanal SolomonIslands, for minerals exploration, focusing on copper and gold rich porphyrysystems and high grade epithermal gold mineralisation. The Company listed on AIMon 10 February 2006 after a £5m capital raising. The Company has identified approximately 30 km2 of mineralisation indicative ofsignificant porphyry copper gold and epithermal gold mineralisation systems andis currently conducting a three rig program drilling key targets. Solomon Goldbelieves the area to host potential for the discovery of a world class coppergold porphyry and related epithermal gold system, similar to other large orebodies in the region such as Ok Tedi, Grasberg and Bougainville, all of whichhosted in excess of 40 million ounces gold equivalent as copper and gold. These projects exemplify the potential evident on the main mineralised trend onthe Solomon Gold licences on Guadalcanal, Solomon Islands. The Company is staffed by an active team of expatriate and Solomon Islandgeologists and field hands, supported by integrated logistics support servicesincluding a helicopter contract. The program is now augmented by the services oftwo drilling contractors operating a total of three rigs for Solomon Gold, and ahelicopter service contract. It is the current intention of Solomon Gold to define a world class porphyrycopper gold deposit and/or a high grade epithermal gold deposit and ultimatelybring it to production. Solomon Gold has access to the required explorationdevelopment and financing skills to achieve this goal. The main prospects occur in a north east trending structurally controlled beltcrossing guadalcanal from the Chikora Porphyry Copper prospect in the south, theMbina copper porphyry and epithermal gold prospect 2km north, the Sutakiki goldprospect a further 4km north and the 2m ounce gold resource at Gold Ridge afurther 13 km north. The high grade gold mineralisation encountered in the recent Solomon Golddrilling at Sutakiki is characteristic of high grade gold deposits related tosimilar mineralised transform structures in Papua New Guinea and the IndonesianArchipelago. Qualified Person Information in this report relating to any exploration results in this report isbased on data reviewed by Mr Nicholas Mather (B.Sc. Hons Geol.), the ChiefExecutive Officer of the Company. Mr Mather is a Fellow of the AustralasianInstitute of Mining and Metallurgy who has in excess of 25 years experience inmineral exploration and is a Qualified Person under the AIM Rules. Mr Matherconsents to the inclusion of the information in the form and context in which itappears. Contacts: Mr Nicholas MatherCEOTel: +61 417 880 448 or [email protected] Mr Duncan CornishSecretaryTel: +61 7 3303 0680 or [email protected] Mr Stephen WeirRFC Corporate FinanceTel +61 2 9250 0048 or [email protected] Mr Bill StapleHanson Westhouse LimitedTel +44 20 7601 6111 or [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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