EDMONTON, Nov. 12 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") announces that due to the worldwide downturn in the economy in the past year it will release it's interest in the Italian Regione Piemonte concession. The highly restrictive environmental requirements in the Regione Peimonte coupled with the high cost of proving out this property due to its mountainous terrain were paramount in Solid's decision to let this property lapse. Solid is currently emphasizing exploration on the Doade Presquierqa Concession in Spain and intends further exploration on the Bear Property, NT in 2010.
The Company also announces that it has received regulatory approval to close a private placement of 17,810,000 Units announced in a news release issued on November 3, 2009.
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 or approved this press release, and the Exchange does not accept responsibility for the adequacy or the accuracy of this release.
SOURCE Solid Resources Ltd.
For further information: For further information: Garnet Harter, Director, (780) 416-7525, firstname.lastname@example.org