Australian Solomons Gold - Drilling intersects 38m @ 4.78 g/t Au in Charivunga Gorge



    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
    FOR DISSEMINATION IN THE UNITED STATES/

    TORONTO, Nov. 28 /CNW/ - Australian Solomons Gold Limited ("ASG" or the
"Company") today announced new drilling results from its 100% owned Gold Ridge
mine ("the Project") located in the Solomon Islands.

    
    SUMMARY:

    -  Drilling continues on the Charivunga Mineralized Zone ("CMV") with a
       goal of at least defining a new stand-alone pit in this zone or to
       affirm sufficient ore for this zone to merge with one or more of the
       currently planned pits. The zone presently has a strike extent of
       300m, is up to 150m wide, and extends to at least 250m vertical depth.
       The zone remains open to the south and at depth.

    -  The expectation at Charivunga Gorge is for better than average grades
       and for considerably better recovery than evident elsewhere, due to
       the lower levels of arsenic in this new zone.

    -  Consultant Geophysicist Graham Elliot visited the site to refine the
       design of the proposed Induced Polarisation (IP) survey.


    Charivunga Gorge Mineralised Zone ("CMZ")

    Recent drilling results include the following highlights:

    -  DDH151: 17m @ 1.11 g/t Au from 213m, 11m @ 2.42 g/t Au from
       280m, 14m @ 2.09 g/t Au from 301m

    -  DDH153: 5m @ 1.24 g/t Au from 119m

    -  DDH154: 38m @ 4.78 g/t Au from 187m, 23m @ 1.92 g/t Au from
       242m, 22m @ 3.09 g/t Au from 266m

    A full tabulation of all the results from the recently drilled holes
DDH151 - 154 is included in the Appendix.

    -  The location of completed and planned drill holes in the CMZ in
       relation to the planned Kupers and Namachamata pits are shown on the
       attached figure 1.

    -  The comparison between the gold assay results undertaken so far and
       the existing design pits can be seen in figure 2.
    

    Based on the drilling results to date this mineralised CMZ has the
potential to add a number of years of life to the project or possibly to
justify a significant upgrade of the existing plant with a higher production
of gold. The preferred outcome will depend upon not only the results of future
drilling in the Gorge but also on other exploration activities being
undertaken around the four current pits designs. Significant increases in ore
adjacent to the four pits would increase the likelihood of an increase in
production.
    At the present time the Company is continuing with its plans to refurbish
the existing plant with an increase of the throughput to 2.5 million tonnes
per annum producing on average 135,000 ounces per year of gold. A review of a
possible increase in throughput is anticipated to be some time off as the
exploration data progressively becomes available and confirms the Company's
expectations.

    
    Exploration work planned to end Q1 2008

    -  A Helimag survey will be carried out over 160km2 of project
       tenements.

    -  The LY44 rig will continue drilling deep exploration holes along the
       CMZ trend.

    -  A man portable rig will be mobilised to enable drilling in parts of
       Charivunga Gorge inaccessible to the larger rig.

    -  Grid clearing for the proposed IP survey will continue.


    To view Figure 1 - Drillhole locations and
            Figure 2 - Au in drillhole image,
            please visit:
            http://files.newswire.ca/351/ASG-Charivunga-Gorge.doc
    


    Quality Assurance Program

    Strict sampling and QA/QC protocols are followed including the insertion
of blanks and standards on a regular basis. Half core samples are pulverised
on site using an LM5 ring pulveriser. One split is sent to ALS Chemex in
Brisbane, Australia, for analysis where it is subject to a 50g fire assay with
atomic absorption finish. The second split and coarse rejects are stored in
secure facilities at the Gold Ridge plant site or Honiara Exploration Office.

    Qualified Person

    The Gold Ridge drilling program is being carried out under the direction
of Tony Field, BSc Geology, ASG's Exploration Manager and the Qualified Person
as defined by National Instrument 43-101 of the Canadian Securities
Administrators responsible for the exploration program and the technical
aspects of this news release.

    About ASG

    ASG is developing the Gold Ridge Project, a former producing mine,
located on Guadalcanal in the Solomon Islands. The mine operated from August
1998 to June 2000 and produced approximately 210,000oz gold during this
period. ASG acquired the project in May 2005 and has completed a Feasibility
Study to redevelop the Gold Ridge Project which is expected to commence
operations by Q2 of 2009.

    Cautionary Statement Regarding Forward-Looking Information

    All statements, trend analysis and other information contained in this
press release relative to markets for ASG's trends in resources, recoveries,
production and anticipated expense levels, as well as other statements about
anticipated future events or results constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will", "should",
"could" or "might" occur or be achieved and other similar expressions.
Forward-looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations
to differ materially from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of management
at the date the statements are made. Some of these risks, uncertainties and
other factors are described under the heading "Risk Factors" in the Company's
annual information form available on www.sedar.com. ASG does not undertake any
obligation to update forward-looking statements even if circumstances or
management's estimates or opinions should change. Investors should not place
undue reliance on forward-looking statements.

    The Toronto Stock Exchange has neither approved nor disapproved the
    contents of this press release

    
                                   Appendix
                                   --------
    Charivunga Gorge

    Assays have been received for holes 8 - 11 in the current series of deep
holes drilled to test for continuity of mineralisation below the Charivunga
Gorge (DDH151 - 154).

    -  DDH151: Was collared 70m south of DDH139 and drilled towards the east
       to test for southern extensions to the CMZ. The mineralisation
       encountered was of slightly lower tenor than to the north however it
       is clear the mineralised zone extends this far south and further
       drilling is planned to the south of this hole to test for further
       extensions.

    -  DDH152: This hole was abandoned at 51.2m due to down hole problems and
       re-drilled at a slightly steeper angle in DDH153.

    -  DDH153: This hole was collared on the southern most drill pad in the
       CMZ (adjacent to DDH151) and drilled towards the north to test an
       interpreted E - W fault. The hole intersected sparse, narrow, low
       grade mineralisation except for 5m @ 1.24 g/t Au below the
       Charivunga River (which may be the surface representation of the
       E - W fault) and so it can be regarded as a technical success.

    -  DDH154: This hole was collared in the central portion of the CMZ,
       150m W and 40m N of DDH139. Most of this hole is anomalous, in fact
       averaging the entire length of the hole (with a 10g/t Au top cut)
       results in 319.8m @ 0.98 g/t au (1.35 g/t au with no top cut).

    Assays

    Assays have been received for holes DDH 151 - 154:

    Table 1 Drill Hole Location

    -------------------------------------------------------------------------
    Hole No.                                                           Depth
    (DDH)      Location    Easting   Northing     RL     Azi   Dip   (Actual)
    -------------------------------------------------------------------------
    DDH151        CMZ     23529.08   40249.55   446.19    90   -60     349.7
    -------------------------------------------------------------------------
    DDH152(*)     CMZ     23529.41   40240.01   446.37   360   -50      51.2
    -------------------------------------------------------------------------
    DDH153        CMZ     23529.41   40240.01   446.37   359   -55     268.8
    -------------------------------------------------------------------------
    DDH154        CMZ     23777.78   40406.46   393.38   270   -50     322.8
    -------------------------------------------------------------------------
    (*) DDH152 Abandoned due to down hole difficulties.


    Intersections include:

    Table 2 Assays
    -------------------------------------------------------------------------
            From  To
    HoleID   (m)  (m)  Interval  Au g/t  As ppm  Comment
    -------------------------------------------------------------------------
    DDH151   13   17      4       0.95     103   11-24m core moderately
                                                 fractured and oxidised with
                                                 oxidised surfaces
                                                 consisting predominantly of
                                                 limonite coatings
    -------------------------------------------------------------------------
             21   22      1       0.51      19   Recovery 93%
    -------------------------------------------------------------------------
             30   33      3       0.60      60
    -------------------------------------------------------------------------
             36   40      4       0.92     403   Recovery 94%
    -------------------------------------------------------------------------
             50   52      2       1.33    1885   20cm wide soft, clay
                                                 altered, .pyritised zone
                                                 with minor arsenopyrite
    -------------------------------------------------------------------------
             55   56      1       1.14    2380   minor sedimentary, x-bedding
                                                 structure, 5cm strongly
                                                 pyritised section with black
                                                 arsenopyrite
    -------------------------------------------------------------------------
             60   63      3       4.42    4150   Quartz - carbonate - pyrite
                                                 vein, 20cm strongly argillic
                                                 altered, pyritised zone
    -------------------------------------------------------------------------
             87   93      6       0.74      17
    -------------------------------------------------------------------------
             94   95      1       1.25      19   Quartz - carbonate - pyrite
                                                 vein with minor brownish
                                                 sphalerite & trace galena
    -------------------------------------------------------------------------
            103  104      1       1.10      29
    -------------------------------------------------------------------------
            107  109      2       0.58      11
    -------------------------------------------------------------------------
            112  116      4       1.41      11   Carbonate - pyrite vein with
                                                 traces of brownish
                                                 sphalerite
    -------------------------------------------------------------------------
            125  126      1       2.12       5   1-2cm wide zone of strong
                                                 argillic alteration with
                                                 strong pyrite mineralisation
    -------------------------------------------------------------------------
            138  149     11       1.35      17   x-bedding structures at
                                                 30 degrees to core axis
    -------------------------------------------------------------------------
            160  161      1       0.63       2
    -------------------------------------------------------------------------
            179  180      1       0.62       2
    -------------------------------------------------------------------------
            183  191      8       0.97      13
    -------------------------------------------------------------------------
            194  200      6       0.57       4
    -------------------------------------------------------------------------
            201  210      9       1.44      30
    -------------------------------------------------------------------------
            213  230     17       1.11       7   Quartz - pyrite vein with
                                                 minor brown & metalic grey
                                                 sphalerite
    -------------------------------------------------------------------------
            231  242     11       0.95       7   Quartz - carbonate veins
                                                 with. minor disseminated
                                                 pyrite mineralisation
    -------------------------------------------------------------------------
            243  248      5       1.08      68   2cm wide quartz - carbonate
                                                 - pyrite silicified vein
                                                 with.one grain of brown
                                                 sphalerite
    -------------------------------------------------------------------------
            250  256      6       0.78      12
    -------------------------------------------------------------------------
            259  264      5       1.25     174   large open vuggy carbonate
                                                 vein with. disseminated
                                                 pyrite at vein margins. Good
                                                 comb texture development of
                                                 carbonate
    -------------------------------------------------------------------------
            267  268      1       0.80       3   Quartz - pyrite vein with
                                                 minor bluish grey
                                                 disseminated sphalerite.
    -------------------------------------------------------------------------
            272  279      7       0.61       4   strong silicification from
                                                 274 - 289m
    -------------------------------------------------------------------------
            280  291     11       2.42       4   cross cutting Quartz -
                                                 carbonate - pyrite vein
                                                 with.abundant blue/grey
                                                 sphalerite, minor
                                                 chalcopyrite
    -------------------------------------------------------------------------
            292  300      8       1.39       7   Quartz - pyrite veins
                                                 with.trace sphalerite
    -------------------------------------------------------------------------
            301  315     14       2.09       6   Quartz - carbonate - pyrite
                                                 veins with minor
                                                 disseminated sphalerite,
                                                 galena, chalcopyrite
    -------------------------------------------------------------------------
            332  334      2       0.67       4
    -------------------------------------------------------------------------
            347  349      2       0.87       2
    -------------------------------------------------------------------------
    DDH152   20   21      1       0.62      47
    -------------------------------------------------------------------------
    DDH153   10   11      1       0.86     346   Recovery 93%
    -------------------------------------------------------------------------
             39   40      1        0.6      46
    -------------------------------------------------------------------------
             63   64      1       0.51     108
    -------------------------------------------------------------------------
            119  124      5       1.24      12   Recovery 83%
    -------------------------------------------------------------------------
            127  128      1       0.66       4   Recovery 84%
    -------------------------------------------------------------------------
            139  140      1       0.95     100   Recovery 92%
    -------------------------------------------------------------------------
            146  149      3          1      28
    -------------------------------------------------------------------------
            214  215      1       0.63       3   1.5cm quartz pyrite vein.
                                                 0.5cm polymetallic vein at
                                                 30 degrees to core axis
    -------------------------------------------------------------------------
            218  219      1        0.7      15   Bedding at 40 degrees to
                                                 core axis. Recovery 93%.
    -------------------------------------------------------------------------
            244  246      2        2.7     128   2cm quartz vein running
                                                 entire length of core at
                                                 5 degrees to 10 degrees to
                                                 core axis, bedding at
                                                 40 degrees to core axis from
                                                 243m to 247m
    -------------------------------------------------------------------------
    DDH154    6   11      5       1.45      36   Recovery 68%
    -------------------------------------------------------------------------
             12   13      1       0.66      30   Oxidised vein (limonitic)
                                                 30 degrees to core axis.

                                                 Recovery 67%
    -------------------------------------------------------------------------
             20   29      9       4.68     133   Includes 1m @ 33.9 g/t Au
                                                 from 28m.

                                                 Strong argillic alteration,
                                                 pyritised zone 50cm wide
                                                 from 28 - 29m. Recovery 93%.
    -------------------------------------------------------------------------
             31   33      2       1.99      21
    -------------------------------------------------------------------------
             41   42      1       1.01      28
    -------------------------------------------------------------------------
             46   56     10      0.913     160   Strong argillic alteration,
                                                 pyritised fault zone from
                                                 53 - 55m.

                                                 Recovery 91%
    -------------------------------------------------------------------------
             60   64      4       0.64      16
    -------------------------------------------------------------------------
             65   70      5      1.032    19.2
    -------------------------------------------------------------------------
             71   82     11       0.71      33
    -------------------------------------------------------------------------
             86   88      2       0.86      18   Recovery 83%
    -------------------------------------------------------------------------
             92   93      1       0.52      10
    -------------------------------------------------------------------------
            105  106      1       0.79       2   Carbonate-pyrite-vein with
                                                 trace brown sphalerite
    -------------------------------------------------------------------------
            112  113      1       0.59       1
    -------------------------------------------------------------------------
            118  119      1       0.94     639   Open vuggy quartz-carbonate
                                                 vein, trace brownish
                                                 sphalerite
    -------------------------------------------------------------------------
            127  131      4          1    1420   Strong argillic alteration,
                                                 grey pyritised gouge
    -------------------------------------------------------------------------
            151  156      5        1.3     109   Quartz-pyrite vein with fine
                                                 grained pyrite margins
    -------------------------------------------------------------------------
            159  173     14       1.11      26   10cm wide strong argillic
                                                 alteration, pyritised zone
                                                 with quartz-pyrite + trace
                                                 sphalerite vein from
                                                 170 - 171m.
    -------------------------------------------------------------------------
            176  177      1       0.66       2
    -------------------------------------------------------------------------
            182  184      2        0.7       3
    -------------------------------------------------------------------------
            187  225     38       4.78      13   Includes 3m @ 35.68 g/t
                                                 Au from 189m, 1m @
                                                 16.35 g/t Au from 204m, and
                                                 1m @ 11.95 g/t Au from
                                                 219m.

                                                 Quartz-pyrite vein with
                                                 abundant galena, sphalerite,
                                                 minor chalcopyrite 1 visible
                                                 speck gold from 191 - 192m.
                                                 Quartz-carbonate-pyrite vein
                                                 with disseminated
                                                 polymettalic sulfides from
                                                 219 - 220m.
    -------------------------------------------------------------------------
            229  233      4        0.9       6   Quartz-carbonate vein with
                                                 trace sphalerite from
                                                 231 - 232m.
    -------------------------------------------------------------------------
            235  239      4       0.91       4   Vuggy quartz-carbonate vein
                                                 from 235 - 236m.
    -------------------------------------------------------------------------
            242  265     23       1.92      10   20cm section containing
                                                 x-bedding structures from
                                                 258 - 259m.
                                                 Strong argillic alteration
                                                 crumbly core from
                                                 258.7 - 259.8m
    -------------------------------------------------------------------------
            266  288     22       3.09      91   Includes 1m @ 15.55 g/t
                                                 Au from 279m, and 1m @
                                                 28.6 g/t Au from 286m.

                                                 Quartz-carbonate vein from
                                                 286 - 287m.
    -------------------------------------------------------------------------
            289  291      2       1.48       8
    -------------------------------------------------------------------------
            294  295      1       0.64     284
    -------------------------------------------------------------------------

      -  Minimum cut-off 0.50g/t Au
      -  Maximum of 2m internal waste
      -  No maximum cut-off applied
      -  Intersections for holes drilled at -60 degrees represent approximate
         true width, except for narrow (less than 1cm) polymettalic quartz
         veins. The orientation of these veins to the core axis is noted in
         the comments. Intersections for holes drilled at -50 degrees may
         exaggerate true width by up to 10%.
      -  Hole DDH152 was diamond core drilled in PQ from the surface to total
         depth. Holes DDH151, 153 & 154 were drilled in PQ from surface to
         approximately 100m depth and thence in HQ.
      -  Drilling was carried out by Radial Drilling with a Longyear 44 rig
      -  Core recovery was greater than 95% except as noted
      -  Gold assays are by 50g Fire Assay carried out at ALS Chemex Brisbane
    

    %SEDAR: 00023730E




For further information:

For further information: ASG: John Blake, CEO, +617 3624-9000,
John.Blake@solomonsgold.com.au. Please note that the Head Office of ASG is
located in Queensland, Australia and is 15 hours ahead of Toronto time.
Investor Relations: Rebecca Greco, (416) 839-8610,
Rebecca.Greco@solomonsgold.com.au (ASG's Investor Relations Manager -
Toronto); Martti Kangas, (416) 815-0700 x 243, mkangas@equicomgroup.com;
Michael Joyner, (416) 815-0700 x 275, mjoyner@equicomgroup.com, The Equicom
Group, Toronto, Canada

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