Solid advances funds to Bearing Gold's project in Columbia

TSXV: SRW
FRANKFURT: A0BLQQ

EDMONTON, Sept. 29 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") announces that it has advanced a loan in the principal amount of $75,000 (the "Loan") to Bearing Gold Resources Corp ("Bearing Gold"). As security for the Loan, Bearing Gold has issued: (a) a non-convertible promissory note with a term of one year and with an interest rate of 10% per annum; and (b) a general security agreement charging all of Bearing Gold's present and after acquired personal property.

The Loan is a "related party transaction" as certain directors, officers and insiders of Solid are also shareholders of Bearing Gold. The TSX Venture Exchange has, pursuant to correspondence dated September 26, 2008, accepted for filing the Loan agreements between the two companies.

The principal amount of the Loan will be used to fund start up operations at the El Cerro Mine represented by two concessions in the Frontino area of Columbia. Bearing Gold has an option to acquire a 90% interest in such concessions.

On July 22, 2008 Solid announced that it had entered into a non-binding letter of intent with Bearing Gold relating to the proposed combination of the companies' respective businesses (the "Transaction"). The special committee of Independent Directors consisting of Gary Kissack, Derek Frost and Leonard Trump approved the Loan and continue to investigate and negotiate the proposed transaction with Bearing Gold.

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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.