Solid Resources Closes Private Placement

VANCOUVER, July 15, 2011 /CNW/ -- 

TSXV:      SRW

FRANKFURT: YRS

VANCOUVER, July 15, 2011 /CNW/ - Solid Resources Ltd. ('Solid' or the 'Company') (TSX: SRW) (Frankfurt: A0BLQQ) announced today that it has closed the non-brokered private placement of
Units for aggregate gross proceeds of $1,000,000 (the 'Offering'),
previously announced on June 1, 2011, subject to TSX Venture Exchange
final approval.

The Company has issued a total of 10,000,000 Units at a price of $0.10
per Unit. Each Unit consists of one Common Share and one Common Share
Purchase Warrant. Each Warrant is exercisable into one additional
Common Share for a period of 24 months after the closing at a price of
$0.15 per Common Share. The securities issued in connection with the
Offering will be subject to a four month hold period that expires on
November 16, 2011.

Finders acting in connection with the Offering received aggregate fees
of Cdn $10,150 and 101,500 finder's warrants, with each finder's
warrant entitling the holder to purchase one Common Share at an
exercise price of $0.15 per Common Share for a period of 24 months
after the closing.

Total insider participation accounted for 15% ($150,000) of the
non-brokered private placement. Mr. Greg Pendura, the President and CEO
of the Corporation, subscribed for 1,000,000 units under the offering.
Mr. D. Randy Hayward, Chairman of the Board, subscribed for 500,000
units under the offering. The Corporation has determined that there are
exemptions available from the various requirements of TSX Venture
Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these
units, (Formal Valuation - Issuer Not Listed on Specified Markets;
Minority Approval - Fair Market Value Not More Than 25% of Market
Capitalization).  No new insiders were created, nor has any change of
control occurred, as a result of this private placement.

The Company intends to use the proceeds from the Offering to fund
exploration of the Company's Doade-Presqueira Tin, Tantalum and Lithium
project in Spain in addition to the Gold and Copper project in Peru,
plus general working capital.

About Solid Resources:

Solid Resources is a Canadian junior mining company focusing on the
exploration and development of rare and precious metals and industrial
commodities worldwide. The Company is currently quantifying the
presence of tantalum, tin, lithium and other rare minerals on its
property in north-western Spain. In addition, further exploratory work
is being conducted on its gold, copper concession in the Province of
Ayabaca in northwest Perú.

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, 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.

Neither the 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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