Solid announces suitability review of senior mining consultant and related halt



    EDMONTON, June 21 /CNW/ - The TSX Venture Exchange has advised Solid
Resources Ltd. ("Solid" or the "Company") that it has commenced a review of
Mr. Alvin Harter's suitability to be associated with the Company and that
pending clarification of that association, the Company's stock will remain
halted. Since Mr. Harter's resignation as President, Chief Executive Officer
and Director in February of this year, he has had no material responsibilities
in respect of Solid but has been the Company's Senior Mining Consultant and
has provided mining advice to the Company in respect of its mining properties
pursuant to the terms of an oral consulting agreement. Mr. Harter's
remuneration under this oral consulting agreement was $12,000 per month, the
same as what Mr. Harter received while an officer of the Company. In response
to the suitability review, the Company has voluntarily put Mr. Harter's
consulting agreement in abeyance on an interim basis; during such period, Mr.
Harter will not provide services to the Company and he will not be paid any
compensation. The Company is committed to assisting the TSX Venture Exchange
in its suitability review with a view to having trading re-instated as soon as
possible.
    The Company currently has two signatories authorized with its Bank. Prior
to the execution of the Settlement Agreement described below, the Company
commenced formal procedures with its Bank to remove Mr. Harter's signing
authority. This process is now complete.
    Concurrent with the Company, Mr. Harter entered into a settlement
agreement and undertaking (the "Settlement Agreement") with the Alberta
Securities Commission (the "ASC") regarding the ASC's Docket E01027 hearing
scheduled for June 14, 2007. Pursuant to the terms of the Settlement
Agreement, Mr. Harter undertook to:

    
    (a) pay to the ASC $45,000 in settlement fees and costs;

    (b) refrain from trading in or purchasing securities for a period of
        5 years, except for trades in or purchases of securities where Mr.
        Harter is the principal, and which are effected through his account
        held with a registered dealer to whom he has first provided a copy of
        the Settlement Agreement;

    (c) refrain from using any exemptions in the Alberta securities laws for
        a period of 5 years, except in respect of trades which constitute a
        control distribution (as defined in the Alberta securities laws) and
        that are effected through his account held with a registered dealer
        to whom he has first provided a copy of the Settlement Agreement; and

    (d) resign all positions he holds as a director and officer of any issuer
        and refrain from becoming or acting as a director or officer, or as
        both a director and officer, of any issuer for a period of 5 years,
        except for issuers that are wholly owned (directly or indirectly) by
        Mr. Harter or by Mr. Harter with another member (or members) of his
        immediate family.
    

    Pursuant to the terms of the Settlement Agreement, Solid paid the ASC
$15,000 and an additional $5,000 towards investigation costs in satisfaction
of all matters covered by the hearing.

    Certain statements contained in this press release, including statements
which are related to exploration activity and future prospects and
profitability and which may contain words such as "could", "should", "expect",
"believe", "will" and similar expressions and statements relating to matters
that are not historical facts are forward-looking statements. Such
forward-looking statements involve known and unknown risks and uncertainties
which may cause the actual results, performances and/or achievements of Solid
to be materially different from any future results, performances or
achievements expressed or implied by such forward-looking statements. Such
factors include fluctuations in the market conditions and prices of tantalum,
lithium, tin, silver and other metals and related products and services;
competition; political and economic conditions in countries in which Solid
does business; changes in laws and regulations, including environmental
regulations, to which Solid is subject, and other factors which are described
in further detail in Solid's filings with the Canadian Securities Regulators.

    The TSX Venture Exchange has not reviewed this release and does not
    accept responsibility for the adequacy or the accuracy of this release.




For further information:

For further information: Garnet Harter, Interim President, (780)
416-7525, gharter@solidresources.com; Harry McKinders, Director of Investor
Relations, (780) 940-1030, hmckinders@shaw.ca

Organization Profile

Solid Resources Ltd.

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