Christina Mills had 25 points for Salisbury in the come-from-behind win.
St. Olaf led by as many as 16 in the first half and by seven at the break, 39-32.
Salisbury took their first sizable lead on a 10-0 run sparked by four St. Olaf giveaways in a two-minute span in midway through the second half.
The Sea Gulls, who forced 29 St. Olaf turnovers in the win, went on a 18-6 run in the final minutes of the first half and the beginning of the second to come within two.
Holly Grimsrud and Christina Sampson had 14 points apiece for the Oles in the loss.
Sampson was named to the six-member All-Tournament team. She had a team-high eight points in the opener.