I loaded up a project today that as of yesterday worked 100% … and recieved an error:
The referenced component ‘System’ could not be found.
What?! Hold on… let me go into the project properties… oh wait, I can’t:
Could not resolve mscorlib for target framework ‘.NETFramework,Version=v3.5′. This can happen if the target framework is not installed or if the framework moniker is incorrectly formatted.
Thanks! I’ll check the .NET installations, reinstall everything, and try again…
or not, I got the same error even after adjusting the .NET framework manually in the file.
I finally figured it out, eventually:
Problem:
I had been using remote debugging. The network share I was publishing to and testing from, was no longer available as I had just received a new server at work and I switched everything over yesterday, but had not relaunched the projects since earlier that morning… and they compiled fine after I moved everything somehow. A bug? I would say so… Give me some sort of REAL response to go off of, like “Hey, you idiot, change your output directory.”
Solution:
I went in to my csproj files and cleared out any references to the network shares in all areas of the configuration. Voila!
I’m interested to see if anyone else has this problem.



I got very similar error messages.
I have a solution (version 3.5 converted into vs2010, keeping the same version) with several class libraries, some depend on others (e.g. ‘library2′ depends on ‘library1′).
During solution compilation:
“The referenced component ‘library1’ could not be found.”
At first I thought it was some broken reference caused by the converting, but the reference was there. Strange thing though, it was showing version 4.0 even though all the projects are supposed to be 3.5.
I wanted to check the project properties and then I saw the other error:
“Could not resolve mscorlib for target framework ‘.NETFramework,Version=v3.5?. This can happen if the target framework is not installed or if the framework moniker is incorrectly formatted.”
Great. I was thinking maybe something incorrectly converted in the csproj file, but I couldn’t find anything (I don’t use remote debugging or source control integration). And the file looks almost identical to the other project files (why those are fine and this one isn’t?).
At the end I removed the library1 project and just used an old compiled dll as a reference to get the whole solution compiled.
I still don’t know what vs2010 doesn’t like about that project. It had been converted just like the others without a problem and it loaded too. But it seems its properties can’t be read and studio automatically compiles it for version 4 making it useless in a 3.5 solution.
Did you have any drive letters change?
From what I was able to gather, it seems like if something is awry in the csproj / user files, that is the error it gives — really nothing to do with .NET at all?
I might go through and clear the values until either the error goes away, or you get a more descriptive one. Haphazard I know, but so is running a Beta! =)
No drive letters changed.
Maybe it forgot to add some special lines in there during the converting, I don’t know. But I can still load the project itself in vs2008 without a problem and check its properties.
I’ll try something too, but I don’t have that much free time.
one fine morning when I build my project using VS2010 It started giving this error.
Warning 1 Could not resolve mscorlib for target framework ‘.NETFramework,Version=v3.5′. This can happen if the target framework is not installed or if the framework moniker is incorrectly formatted.
I close the solution and re-open it again. It started working fine