Sola Resource Corp.

Sola Resource Corp.

November 22, 2010 10:20 ET

Sola Completes 30% Acquisition of Diamond and Gold Producer

VICTORIA, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2010) - Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or "Sola") reports that it has completed the acquisition of a thirty percent (30%) interest of Amazon Resources Limited ("Amazon") pursuant to a Share Exchange Agreement.

Further to a non-binding Letter of Intent between Sola and Amazon, a United Kingdom incorporated company, the shareholders of Amazon have entered into a Share Exchange Agreement ("SEA" to sell thirty percent (30%) of the common shares of Amazon to Sola. The SEA further provides an Option for Sola to acquire up to one hundred percent (100%) of Amazon on or before March 31, 2011.

At this time, Sola has received and accepted SEA's from shareholders representing 92.54% of the outstanding shares of Amazon which will result in Sola issuing to these Amazon shareholders 45,042,589 common shares of Sola in aggregate. This satisfies the 85% minimum acceptance requirements pursuant to the SEA. The Amazon shareholders will receive these shares pursuant to the acceptance and approval of the TSX Venture Exchange upon Sola filing a Form 5B – Expedited Acquisition Filing Form for the completion of this Expedited Acquisition.

The completion of this Expedited Acquisition will allow Sola to establish a partnership with a producing diamond and gold company in Brazil. Sola's Board of Directors have been actively seeking revenue producing opportunities and this acquisition fits well with the strategic direction of Sola.

The CEO of Sola, Dr. Pfaffenberger, states: "We are excited about this opportunity. The team at Amazon are very qualified and have considerable mining experience that will aid and assist Sola going forward. As well, Sola will now benefit from the underlying opportunities that Amazon possess."

Sola will be updating its website in the coming weeks to include further information as it relates to the Amazon operations and other opportunities.

For Reference;

Amazon is a privately held, U.K. based company with a Diamond and Gold production facility in the Province of Minas Gerais, Brazil, and another processing facility in the Province of Rondonia which is presently not commissioned along with two Options on property claims located in the Provinces of Parana and Piaui. 

Sola is a junior exploration company with assets in Canada and Brazil. The Company has primarily focused on diamond, gold, base metal and Manganese resource properties since inception. All available resource reports and information on the Company's properties are located on the Company website.

Sola continues to provide shareholders with Investor Updates, please ensure that you have already registered on the company website, if not please visit and input your name and email address on the home page.

Issued on behalf of the Board of Directors of Sola Resource Corp.

Dr. William (Bill) Pfaffenberger, CEO and Director

The information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbour.

Neither the TSX Venture Exchange nor its Regulation Service 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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