Sola Resource Corp.

Sola Resource Corp.

June 09, 2009 09:00 ET

Sola Resource Corp Executes Option Agreement on Gold Property in British Columbia

CALGARY, ALBERTA--(Marketwire - June 9, 2009) - Sola Resource Corp. (the "Company") (TSX VENTURE:SL) (PINK SHEETS:SORSF) wishes to make the following announcement:

The Company has entered into an Option Agreement, subject to regulatory approval, to purchase a property located 105 kilometres northwest of Lillooet, British Columbia, Canada. The property has gold potential with some results (in 1987) by Esso Resources Canada of previous drilling being:

Drill Hole (location) Type Width Au g/t 
DDH R82-1 (65 m Zone) Diamond drill hole 1.50 m 10.30
DDH R82-4 (65 m Zone) Diamond drill hole 2.50 m  3.30
1988RC-13 (Spine Zone) Reverse Circulation 7.50 m  2.90
1988RC-13 (Spine Zone) Reverse Circulation 9.00 m  2.00
RYC-88-001 (Spine Zone) Diamond drill hole 5.60 m  1.46
RYC-88-006 (75 m Zone) Diamond drill hole 2.73 m  2.24
RYC-88-008 (75 m Zone) Diamond drill hole 4.77 m  1.95
RYC-88-008 (75 m Zone) Diamond drill hole 1.30 m  5.90

These results were reported by Esso Resources Canada and are not compliant to   NI 43-101 standards. Therefore there is no assurance as to their accuracy and  investors are warned not to rely upon them.

The option agreement calls for staged payments to the optionor up to in total 8,300,000 shares in the Company. These payments will be made upon a series of milestones advancing the gold property through a proposed $950,000 exploration and drill program. If all options are exercised Sola will own rights to 100% of the property and the optionor would retain a 2% NSR. The optionor is a company that is owned and controlled by a director and officer of Sola. The transaction contemplated is not at arms length and, accordingly, such transaction has been approved by an independent sub-committee of Sola's Board of Directors and is subject to regulatory approval.

The Company is in discussions for the financing of the development of the property. The option exercise will be contingent upon securing financing for the project.

As previously reported, the Company continues its capital raising efforts. The Company also continues to seek out opportunities, alternative financing arrangements and potential JV partners that will enhance future shareholder value.

Prof. Roger D. Morton B.Sc., Ph.D., P.Geol. (Alta), a qualified person for the purpose of National Instrument 43-101, has reviewed and verified the contents of this news release.

We seek safe harbor.


William Pfaffenberger, CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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