Solid Resources announces updates

Feb 22, 2007

EDMONTON, Feb. 22 /CNW/ - Solid Resources Ltd. ("Solid") announces the
resignation of Alvin Harter as Director, President and CEO of the Corporation
at the company's annual general meeting held on February 15, 2007. Mr. Harter
has been a major contributor to building the impressive portfolio of
properties that the company holds. Garnet Harter, who has worked with the
Company for the past nine years has accepted the position of Interim President
and CFO until a suitable candidate can be recruited to fill the President's
position.
Mr. R. Derek Frost has been elected as a director by the shareholders at
the Company's AGM. Mr. Frost has a B.Comm, CA, Fellowship of Banking and over
twenty years of broad experience in the financial industry. He is Chairman and
CEO of RDF Group of Companies. He has held positions of International Money
Market Trader with TD Bank, Director of Business Development (Corporate
Services) for International and National Trust and Executive Vice President
for Nova Bancorp Capital Management Inc. During his career, he has had the
responsibility to raise hundreds of millions of dollars either through the
retail, syndication, and/or institutional marketplace. In addition, Mr. Frost
has acted as both an investment banker as well as merchant banker for a series
of private and public companies.
The Company also announces the closing of a flow through private
placement of 139,800 units at a price of $.50 per unit for aggregate proceeds
of $69,900. Each unit contains one common share of Solid and one warrant. Each
warrant will entitle the holder thereof to acquire an additional common share
of Solid for a period of one year from date of issue and has an exercise price
of $1.00. The securities are subject to a hold period which does not expire
until May 24, 2007. This transaction has been approved by the TSX Venture
Exchange.
Solid also announces that it has issued 240,000 common shares to
A.G. Spat, P.Eng., in payment of finder's fees for his contribution in adding
significant mining properties to the company's portfolio. The shares are
subject to a four month hold period from date of issue. The value of the
transaction is $75,000 U.S. This transaction has been approved by the TSX
Venture Exchange.
The Company also announces that it has closed a private placement funding
arrangement with Solid Resources No.1 Limited Partnership in February, 2007.
Under the terms of the private placement the company will be reimbursed for
certain previous operating expenses in exchange for the Limited Partnership
acquiring a 10% share of the company's gross revenues for the next 10 years.
The company also acquired rights under the agreement, under certain
conditions, to exchange shares of the company rather than expending cash to
the limited partnership. The company was reimbursed for $3,500,000 in expenses
from gross proceeds of the offering, of which a portion was in cash and the
balance in notes receivable. The net cash proceeds to Solid totalled $350,000
which are being used for certain expenditures related to increasing the
reserves and updating the feasibility that was prepared in 1999 on the
company's Peruvian copper porphyry deposit and for general and administrative
expenses. The company has currently issued no new shares under this
transaction.

The Company's website is at www.solidresources.com and the common stock
trades on the TSX Venture Exchange under the symbol SRW and on the Frankfurt
Stock Exchange under the symbol A0BLQQ.

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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: Garnet Harter, Interim President, (780) 416-7525, This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; Harry McKinders, Director of Investor Relations, (780) 940-1030, This e-mail address is being protected from spambots. You need JavaScript enabled to view it