Solid Gold Resources Corp.

Solid Gold Resources Corp.

March 25, 2013 10:20 ET

Political Interference at Lake Abitibi

TORONTO, ONTARIO--(Marketwire - March 25, 2013) - Solid Gold Resources Corp. ("Solid Gold") (TSX VENTURE:SLD) announced today that Mr. Stephen De Vos, Director of Exploration, Ministry of Northern Development and Mines ("MNDM"), has used his discretionary powers to prevent Solid Gold from exploring its Legacy property near Timmins, Ontario. Under the new mining act, Solid Gold has no right of appeal. The Director used these extraordinary powers despite the following facts:

1. MNDM has been aware of the details of Solid Gold's exploration program for over one year. At its own expense and in good faith, Solid Gold engaged in an extensive 10 month consultation process with the Wahgoshig First Nation ("WFN") and the Crown respecting such exploration. This process was facilitated by a judge of the Superior Court.
2. An enhanced archaeological and traditional land use study was conducted on the portions of the property that Solid Gold indicated it would focus its current exploration. That study, which was conducted with the cooperation of WFN, only identified one potential site on the edge of one of these claims.
3. Since November 2011, Solid Gold has committed to inform WFN immediately if any culturally sensitive site is discovered during the course of exploration. Solid Gold also agreed not to drill in any areas identified as potentially culturally sensitive without consultation.
4. Solid Gold obtained leave to appeal an injunction order placed upon it. The court seriously doubted the correctness of the injunction decision and was strongly of the view that Solid Gold had no obligation to consult. Ontario supported WFN in this matter and opposed the leave motion. WFN continues to take the position that it will not consent to exploration. MNDM has supported that position.
5. The appeal court suggested that there was nothing formally in place to prevent Solid Gold from resuming its exploration activity and that the interim injunction which had halted Solid Gold's exploration activities had expired.

In these circumstances, Mr. De Vos' conduct is alarming. Mr. De Vos's decision appears to be a politically motivated abuse of power and indicates the unfair political interference that permeates the new exploration regime. This should be of great concern to the exploration industry in Northern Ontario.

Business of Solid Gold Resources Corp.

Solid Gold is a junior mining exploration and development company, which controls a +/-200- square-kilometer prospect hosting potential for discovery of economic mineralization at Lake Abitibi near the Porcupine Fault zone in Northern Ontario.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Solid Gold believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Solid Gold disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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