Solomon Settles Outstanding Debt to Company Owned by CEO
Box 938, Vernon, British Columbia, V1T6M8, Canada Telephone (778) 475-5551 Fax (778) 475-5541 Web Site: www.solomonresources.ca
NEWS RELEASE
Solomon Settles Outstanding Debt to Company Owned by CEO
February 22nd, 2013 Trading Symbol: TSX-V.SRB
Vernon, B.C. – Friday, February 22nd, 2013. Solomon Resources Limited (SRB: TSX-V) announces that, subject to TSX Venture Exchange approval, it has agreed to settle indebtedness of approximately $93,500 for consulting fees invoiced in 2012 by a company owned by its President and CEO by the issuance to that company of 1,000,000 common shares at a deemed price of $0.05 per share, and transferring to that company equipment valued at $23,500 and certain mineral claims in the Yukon Territory valued at $20,000.
About Solomon Resources Ltd.:
Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of tin, niobium and tantalum projects in equatorial Africa. The recent acquisition of an option to acquire a 100% interest in the Rurembo Tin Project in the Republic of Rwanda is the first of a series of property acquisitions and new projects in this underexplored and highly prospective region which Solomon hopes to undertake. Solomon also holds legacy projects in British Columbia and Alaska.
Solomon’s business model is that of a Project Generator. To build shareholder value, the Company intends to acquire highly prospective mineral tenures in stable jurisdictions with the objective of adding value through grassroots exploration and target refinement and then seeking option or joint venture partners through to production.
For additional information visit Solomon’s website at www.solomonresources.ca or contact:
Randall S. Rogers M.Sc., P.Geo.
President and Chief Executive Officer Phone (778) 475-5551
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accept responsibility for the adequacy or accuracy of this release.
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