Today in Australia ASX listed King Solomon Mines ("KSO"), our second largest investment, issued a statement advising that it had commenced its 2008 exploration work programme and was drilling at two of its prospects in Inner Mongolia.
This is good news for Widespread Minerals, the largest shareholder (11%) in King Solomon Mines. We look forward to receiving ongoing progress reports as the exploration programme continues.
The KSO announcement is repeated below.
For and on behalf of the Board,
Chris D Castle
Onekaka, 31 March 2008
King Solomon restarts drilling in Inner Mongolia, China
With the end of an unusually bitter winter, King Solomon has started its 2008 field program with a re-commencement of drilling at its Marmot Ridge Copper-Molybdenum project in Inner Mongolia., China. The current diamond drilling program is following up on the successes of its 2007 program, most notably the previously announced intercept of 51m at 377ppm molybdenum from 37m down hole.
Drilling has also started at the Company's Naogaoshandu gold project 15 km northeast of Sino Gold's Beyinhar gold project. An initial 1,500m RC program will be spread over 500m of strike length at the Three Eagles epithermal gold prospect.
On completion of the Naogaoshandu program the Company plans to commence RC drilling on the Fiddlers Rise epithermal gold prospect at Beyinhar North. Located less than 5 km from the Beyinhar gold project, Fiddlers Rise is a roughly circular area, some 1.5km in diameter, of Gold-in-soil anomalism straddling major converging structural trends.
King Solomon Mines Limited