Brisbane, Mar 6, 2009 AEST (ABN Newswire) - D'Aguilar Gold Limited (ASX:DGR) is pleased to announce that AIM-listed Solomon Gold plc (LON:SOLG) has agreed to issue D'Aguilar two million (2,000,000) fully paid ordinary shares in Solomon and pay A$50,000 to cancel a royalty agreement entered into in 2005 in respect of certain tenements held by a subsidiary of Solomon on Guadalcanal. This transaction was undertaken as a condition-precedent for Solomon's recently announced significant exploration joint venture agreement with Newmont Mining Inc.
D'Aguilar had previously held a 1% revenue royalty in respect of four exploration licences (Koloula PL 02/05, Central PL03/05, Mbetilonga PL04/05 and Sutakiki PL05/05 on Guadalcanal held by Australian Resource Management (ARM) Pty Ltd, a wholly-owned subsidiary of Solomon.
At the completion of the transaction D'Aguilar will hold 3,055,557 shares in Solomon, representing approximately 4.7 % of Solomon's fully paid ordinary shares.
Solomon is listed on the Alternative Investment Market of the London Stock Exchange (AIM) and trades under the symbol "SOLG". Solomon ordinary shares last closed on AIM at 9.00 pence (A$0.20).
For Solomon Gold plc information, see:
http://www.solomongold.com
http://solomongold.com/sharepricechart.php
http://www.londonstockexchange.com/en-gb/pricesnews/prices/aimIndex.htm
Contact
Mr Nicholas Mather
Managing Director
Tel: +61-7-3303-0680
Mob: +61-417-880-448
Mr Greg Runge
General Manager - DGR Group
Tel: +61-7-3303-0680
Mob: +61-418-546-739
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