King Solomon Mines

10 March 2009

Sale of Non Core Exploration Licences

The Company advises that it has completed the sale of surplus assets consisting of the two exploration licences containing the Wang Jia Ying Zi ("WJYZ") and Dong Gou Zi ("DGZ") projects. WJYZ and DGZ were acquired in 2007 as an adjunct to the acquisition of the Bu Dun Hua property which remains a highly prospective asset. Evaluation of these secondary projects has confirmed they appear unlikely to host major deposits. As they do not fit with the Company's strategy of having large scale potential, they have been sold.

The total sale price received by King Solomon subsidiary Inner Mongolia Plate Mining Limited was 1 million RMB (approximately $228,000). Sale proceeds will be used to advance the company's principal projects.

King Solomon Mines has planned an active exploration programme for the 2009 field season commencing with follow up trenching and sampling of the very encouraging gold rock chip results from the Naogaoshandu project which were reported in the December Quarterly Report. Current indications are that weather conditions will permit a return to the field in late March.