Australian Solomons Gold Limited
TSX : SGA

Australian Solomons Gold Limited

April 30, 2009 09:25 ET

Australian Solomons Gold Further Excellent Results From Charivunga Gorge

TORONTO, ONTARIO--(Marketwire - April 30, 2009) -

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

Australian Solomons Gold Limited ("ASG" or the "Company") (TSX:SGA) today announced the results from the latest ten drill hole programme at its Gold Ridge Project in the Solomon Islands. Holes DDH167 & 168 were the final two holes drilled to test the Charivunga Mineralised Zone, holes DDH169 - 176 were a series of short holes drilled to gain additional resource definition information for the Namachamata, Kupers, and Dawsons ore bodies.



Drilling Highlights

---------------------------------------------------------
Hole Location From To Width (m) Au g/t
---------------------------------------------------------
DDH167 CMZ 271 282 11 2.74
---------------------------------------------------------
284 309 25 2.46
---------------------------------------------------------
310 336 26 2.16
---------------------------------------------------------
342 352 10 1.63
---------------------------------------------------------
370 386 16 6.85
---------------------------------------------------------
DDH168 CMZ 52 82 30 2.58
---------------------------------------------------------
170 194 24 1.89
---------------------------------------------------------
195 212 17 3.21
---------------------------------------------------------
DDH173 Kupers 0 7 7 1.14
---------------------------------------------------------
DDH175 Kupers 0 5 5 1.6
---------------------------------------------------------
76 81 5 12.1
---------------------------------------------------------
DDH176 Dawsons 75 80 5 2.09
---------------------------------------------------------

- Note these intersections represent approximate true width

- A full tabulation of drill results from these holes is included in the
Appendix to this release


Charivunga Gorge

DDH167: This hole was collared in the northern portion of the CMZ 25m north of DDH140 to test for extensions of the strongly mineralised central 100m section of the CMZ. The hole successfully intersected the CMZ effectively extending the central strongly mineralised section of the zone 60m to the north.

DDH168: The results from this hole are very encouraging as it is the western most hole to have intersected the Charivunga Mineralised zone. As expected the top of the zone was intersected at relatively shallow depth. It is also notable for its near surface mineralisation with a good intersection of 30m @ 2.58 g/t Au from 52m that adds weight to the previously proposed idea that there could be a substantial southern extension to the Namachamata pit.

The locations of the completed drill holes in the CMZ are shown on figure 1. Cross sections of these holes are shown in figures 2 & 3.

Based on the drilling results to date this mineralised CMZ has the potential to add to the project life or to justify a significant upgrade of the existing plant with a higher production of gold. The preferred outcome will depend upon the results of future drilling but also on other exploration activities being undertaken around the four current pit designs. Significant increases in ore adjacent to the four pits would increase the likelihood of an increase in production.

Resource Definition Drilling

DDH173: This hole is located in the north central portion of the Kupers deposit. This hole intersected 7m @1.14 g/t Au from the surface and further narrow low to moderate grade intersections down hole which correlate with similar mineralisation encountered in hole GR0040 located 28m to the east. DDH175 : This hole is also located in the north central part of the Kupers pit and was sited to infill a 50m gap between adjacent holes. Correlating well with these holes, DDH175 intersected moderate grade mineralisation from surface to the end of the hole, with better intersections including 5m @ 1.6 g/t Au from 0m, 5m @ 1.55 g/t Au from 48m, and 5m @ 12.1 g/t Au from 76mDDH176: This hole is located towards the southern margin of the Dawsons pit. The moderate grade intersection, 5m @ 2.09 g/t Au from 75m, corresponds to a high grade intersection in the adjacent RC hole RC1052.The locations of the completed drill holes at Namachamata, Kupers and Dawsons are shown in figure 4. Cross sections of holes DDH173, 175 & 176 are shown in figures 5 - 7

The Company is continuing with its plans to refurbish the existing plant with an increase of throughput to 2.5 million tonnes per annum producing on average 135,000 ounces per year of gold for the first three years of operation. A review of a possible further increase in throughput will be ongoing as exploration data progressively becomes available and confirms the Company's expectations.

To view Figure 1: CMZ Drill Hole Locations, please visit the following link:

http://media3.marketwire.com/docs/asgfig1.pdf

To view Figure 2: Section 40480N; DDH167 (Note: DDH140 20m south of section), please visit the following link:

http://media3.marketwire.com/docs/asgfig2.pdf

To view Figure 3: Section 40350N; DDH 168, please visit the following link:

http://media3.marketwire.com/docs/asgfig3.pdf

To view Figure 4: Resource Definition Drill Hole Location Plan, please visit the following link:

http://media3.marketwire.com/docs/asgfig4.pdf

To view Figure 5: DDH173, please visit the following link:

http://media3.marketwire.com/docs/asgfig5.pdf

To view Figure 6: DDH175, please visit the following link:

http://media3.marketwire.com/docs/asgfig6.pdf

To view Figure 7: DDH176, please visit the following link:

http://media3.marketwire.com/docs/asgfig7.pdf

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 during 2010.

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.

Please note that the Head Office of ASG is located in Queensland, Australia and is 14 hours ahead of Toronto time.

Appendix

Charivunga Gorge

Assays have been received for holes 24 - 25 in the current series of deep holes drilled to test for continuity of mineralisation below the Charivunga Gorge (DDH167 - 168).



Table 1: Drill Hole Location

---------------------------------------------------------------------------
Hole No.
(DDH) Location Easting Northing Azimuth RL Dip Depth (m)
---------------------------------------------------------------------------
167 Charivunga
Gorge 23968.84 40485.17 268 368.50 -55 401.0
---------------------------------------------------------------------------
168 Charivunga
Gorge 23656.16 40351.25 270 323.1 -72 416.17
---------------------------------------------------------------------------

Intersections include:


Table 2: Assays
----------------------------------------------------------------------------
HoleID From (m) To (m) Width (m) Au g/t As ppm Comment
----------------------------------------------------------------------------
DDH167 101 102 1 1.04 535 Recovery 90%
----------------------------------------------------------------------------
143 145 2 0.76 62
----------------------------------------------------------------------------
152 153 1 1.69 150
----------------------------------------------------------------------------
203 210 7 0.69 36
----------------------------------------------------------------------------
213 215 2 2.82 5
----------------------------------------------------------------------------


includes 1m @ 180 g/t
Au from 219m, 1m @ 13.45
218 229 11 18.60 93 g/t Au from 225m, quartz
259 267 8 0.80 2 veins at 60 degrees aca
----------------------------------------------------------------------------
includes 1m @ 16.15 g/t
271 282 11 2.74 5 Au from 271m
----------------------------------------------------------------------------
includes 1m @ 17.4 g/t
Au from 294m, minor
quartz veins
284 309 25 2.46 18 at 30 degrees aca
----------------------------------------------------------------------------
310 336 26 2.16 165
----------------------------------------------------------------------------
342 352 10 1.63 50
----------------------------------------------------------------------------
355 356 1 0.84 12 Recovery 95%
----------------------------------------------------------------------------
361 368 7 1.14 8
----------------------------------------------------------------------------
includes 1m @ 78.8 g/t
Au from 383m, quartz
370 386 16 6.85 18 vein at 15 degrees aca
----------------------------------------------------------------------------
387 391 3 1.72 11
----------------------------------------------------------------------------
393 394 1 1.56 11
----------------------------------------------------------------------------
397 400 3 0.70 3
----------------------------------------------------------------------------
DDH168 10 11 1 0.85 45
----------------------------------------------------------------------------
15 16 1 8.90 37
----------------------------------------------------------------------------
29 35 6 1.48 22
----------------------------------------------------------------------------
45 47 2 0.61 37
----------------------------------------------------------------------------
includes 1m @ 10.45 g/t
52 82 30 2.58 36 Au from 59m
----------------------------------------------------------------------------
84 88 4 0.80 14
----------------------------------------------------------------------------
114 117 3 0.82 4
----------------------------------------------------------------------------
119 126 7 1.25 313
----------------------------------------------------------------------------
131 133 2 0.70 22
----------------------------------------------------------------------------
140 147 7 0.93 123
----------------------------------------------------------------------------
149 151 2 0.71 17
----------------------------------------------------------------------------
DDH168 154 159 5 0.57 5
----------------------------------------------------------------------------
160 169 9 0.98 5
----------------------------------------------------------------------------
170 194 24 1.89 7
----------------------------------------------------------------------------
1m @ 25.3 g/t Au from
211m, quartz vein at
195 212 17 3.21 9 60 degrees aca
----------------------------------------------------------------------------
215 216 1 1.45 6
----------------------------------------------------------------------------
219 225 6 2.09 15
----------------------------------------------------------------------------
227 230 3 2.44 58
----------------------------------------------------------------------------
233 240 7 2.35 27
----------------------------------------------------------------------------
241 242 1 0.95 44
----------------------------------------------------------------------------
246 247 1 0.88 26
----------------------------------------------------------------------------
259 260 1 0.63 12 Recovery 86%
----------------------------------------------------------------------------
282 283 1 0.78 129
----------------------------------------------------------------------------
285 286 1 0.61 47
----------------------------------------------------------------------------

Resource Definition Drilling

Assays have been received for a series of eight resource definition holes
drilled at Namachamata, Kupers, and Dawsons deposits.



Table 3: Drill Hole Locations
----------------------------------------------------------------------------
Hole ID.
(DDH) Location Easting Northing Azimuth RL Dip Depth (m)
----------------------------------------------------------------------------
DDH169 Namachamata 23548.04 40722.31 270 458.33 -60 60.0
----------------------------------------------------------------------------
DDH170 Namachamata 23609.45 40800.47 270 437.39 -60 50.0
----------------------------------------------------------------------------
DDH171 Kupers 24097.44 40302.96 265.4 475.37 -60 115.7
----------------------------------------------------------------------------
DDH172 Kupers 24197.40 40248.90 264.1 446.82 -60 60.0
----------------------------------------------------------------------------
DDH173 Kupers 24048.06 40254.17 271.2 483.97 -70 120.7
----------------------------------------------------------------------------
DDH174 Kupers 23907.49 40065.47 360 518.90 -90 73.9
----------------------------------------------------------------------------
DDH175 Kupers 23953.71 40097.69 360 508.49 -90 130.0
----------------------------------------------------------------------------
DDH176 Dawsons 23853.03 39195.03 283.8 580.95 -60 80.0
----------------------------------------------------------------------------


Table 4: Assays

----------------------------------------------------------------------------
Hole ID From (m) To (m) Width (m) Au g/t As ppm Comment
----------------------------------------------------------------------------
DDH169 No anomalous results
----------------------------------------------------------------------------
DDH170 6 7 1 0.51 37 Fault gouge
----------------------------------------------------------------------------
DDH171 39 40 1 0.51 389
----------------------------------------------------------------------------
Minor shear at
64 66 2 0.88 1412 70 degrees aca
----------------------------------------------------------------------------
73 74 1 0.64 268
----------------------------------------------------------------------------
DDH172 1 3 2 0.62 1026 Recovery 93%
----------------------------------------------------------------------------
14 16 2 0.65 505
----------------------------------------------------------------------------
31 33 2 2.68 2470 Recovery 92%
----------------------------------------------------------------------------
55 56 1 12.6 129
----------------------------------------------------------------------------
Quartz veins at 20 to
degrees to 80 degrees
DDH173 0 7 7 1.14 477 aca
----------------------------------------------------------------------------
21 22 1 0.66 1425
----------------------------------------------------------------------------
26 27 1 1.99 74
----------------------------------------------------------------------------
33 36 3 0.77 430
----------------------------------------------------------------------------
Recovery 80%, shear
44 46 2 0.72 589 zone
----------------------------------------------------------------------------
63 66 3 1.26 341
----------------------------------------------------------------------------
80 81 1 0.64 1935
----------------------------------------------------------------------------
88 91 3 0.63 536
----------------------------------------------------------------------------
95 96 1 0.83 649
----------------------------------------------------------------------------
102 105 3 0.92 814
----------------------------------------------------------------------------
109 110 1 0.55 70
----------------------------------------------------------------------------
Minor fault gouge,
quartz veins at 10
degrees - 80 degrees
DDH174 15 17 2 0.66 564 aca
----------------------------------------------------------------------------
Fault gouge at
37 39 2 1.21 2690 10 degrees aca
----------------------------------------------------------------------------
73 74 1 0.88 83 Recovery 90%
----------------------------------------------------------------------------
Numerous quartz veins
at 10 degrees -
DDH175 0 5 5 1.6 223 30 degrees aca
----------------------------------------------------------------------------
7 14 7 0.69 459
----------------------------------------------------------------------------
Recovery 90%, numerour
quartz veins at 80
degrees - 90 degrees
15 17 2 1.07 351 aca
----------------------------------------------------------------------------
23 25 2 1.21 637
----------------------------------------------------------------------------
Numerous quartz veins
at 50 degrees -
28 33 5 1.55 391 80 degrees aca
----------------------------------------------------------------------------
38 45 7 0.83 108
----------------------------------------------------------------------------
Minor quartz vein at
48 53 5 1.58 227 80 degrees aca
----------------------------------------------------------------------------
56 60 4 1.12 465 Shear zone
----------------------------------------------------------------------------
Minor quartz vein at
64 70 6 0.98 306 20 degrees aca
----------------------------------------------------------------------------
includes 1m @ 11.85
g/t Au from 76m, 1m @
47.6 g/t Au from 80m,
minor quartz vein at
76 81 5 12.1 38 50 degrees aca
----------------------------------------------------------------------------
83 84 1 0.63 34
----------------------------------------------------------------------------
89 90 1 1.67 5
----------------------------------------------------------------------------
Minor quartz vein at
98 103 5 0.7 204 70 degrees aca
----------------------------------------------------------------------------
104 109 5 0.76 15
----------------------------------------------------------------------------
Minor quartz veining
at 10 degrees -
113 114 1 1.47 37 70 degrees aca
----------------------------------------------------------------------------
121 124 3 1.16 101
----------------------------------------------------------------------------
128 129 1 0.64 25
----------------------------------------------------------------------------
DDH176 5 6 1 1.53 53
----------------------------------------------------------------------------
35 36 1 6.37 327
----------------------------------------------------------------------------
45 46 1 3.96 223
----------------------------------------------------------------------------
50 51 1 5.76 52
----------------------------------------------------------------------------
60 62 2 0.51 42
----------------------------------------------------------------------------
66 71 5 0.72 54
----------------------------------------------------------------------------
75 80 5 2.09 85 Shear gouge
----------------------------------------------------------------------------

- Minimum cut-off 0.50g/t Au
- Maximum of 2m internal waste
- No maximum cut-off applied
- Intersections represent approximate true width, except for narrow (less
than 1cm) poly-metallic quartz veins. The orientation of these veins to
the core axis is noted in the comments.
- Holes 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


ABN 96 109 492 373

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