King Solomon Mines

15 November 2010

Issue of shares under placement

Companies Announcements Office
Australian Securities Exchange

The Board of King Solomon Mines Limited (ASX Code: KSO) is pleased to announce a placement of 13,600,000 fully paid ordinary shares at a price of $0.07 to raise $952,000.

The funds raised are to finance the next stage of drilling on the Company’s highly prospective Inner Mongolian copper and gold prospects and for general working capital purposes. The placement was managed by Bell Potter Securities Limited and made to a number of qualified sophisticated investors.

It is anticipated that an Appendix 3B for the issue of these placement shares will be lodged on 22 November 2010.