Sola Resource Corp.

Sola Resource Corp.

November 24, 2010 10:22 ET

Sola Provides Project Information for Parauna Diamond Project in Brazil

VICTORIA, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2010) - Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or "Sola") is pleased to provide information on the Paraúna Diamond Project, ("Paraúna"), in the Diamantina region of Minas Gerais, Brazil.

Sola, pursuant to the Share Exchange Agreement, dated November 22nd, 2010; (the "SEA"), Sola will acquire a 30% direct ownership in Amazon Resources Limited, ("Amazon"), which owns amongst other assets, a wholly owned subsidiary named DF-II Ltda., ("DF-II"), that carries out the Brazilian operations of Amazon.

Paraúna comprises some 500 Hectares in aggregate, distributed over 4 claims and a further claim currently in process. The initial project has been licensed for mining and meets all environmental controls and approvals. The property sits within the Paraúna river valley, together with its flood plain and the elevated terraces from past river courses, which form an important part of the property package. These higher terraces provide potentially additional exploration and mining areas that are yet to be explored. The river has also changed its course over the years and as such there are several unexplored areas that need to be drilled and tested in order to quantify further potential.

Previous exploration works on Paraúna has helped define the mining plan drawn up by Amazon staff including the CEO of Amazon, Mr. Christopher Morgan and General Manager, Mr. Peter Kilroy. With extensive local and international mining experience to draw upon, the company has installed a small scale commercial processing operation in a cost effective manner. The facility can process 35 cubic meters of material per hour, and through a series of three settling ponds is able to reuse almost 100% of process water. Following gravity separation by conventional jigs and tables the alluvial diamonds and gold will be collected in a separate secure facility. 

Previous exploration works have included full topographic, geophysical (ground penetrating radar) and aerial surveying to 1:5,000 scale summarised by the following;

1. Percussion drilling
    a. 807 holes drilled
    b. Total drilling was 6,100 meters
2. 12 bulk samples were completed
    a. 34,600 cubic meters of overburden
    b. 2,200 cubic meters of gravel
    c. 2,165 stones collected
    d. 171.9 carats collected
    e. 231.1 grams of gold recovered
3. Ground penetrating radar (GPR) surveying
    a. 42.7 kilometres of surveying
    b. 48 drill holes, (370 meters), for survey control
4. Controlled sampling of artisanal miners, 30,000 cubic meters of gravel
    a. 2,100 carats recovered
    b. 4,400 grams of gold

In 2001, previous owners completed a National Instrument 43-101 compliant report completed by Dr. Geoffrey Michael Evans of Toronto. The following results were reported: 

Resource Category Gravel(000 cubic meters) Diamond Carats Gold Kgs.
Measured 6,100 400,000 610
Indicated 730 43,800 73
Inferred 6,000 394,000 600

Past valuation of a parcel of Paraúna diamonds has indicated an average value range of $185 to $230 per carat.

In October 2010 DF-II commissioned the Paraúna processing plant and despite normal plant start up issues processed some 65% of plant capacity over the month on a single shift basis. The plant is currently being debottlenecked and hopes to reach full production on a two shift basis by early 2011.

Diamondiferous gravels are currently being mined and stockpiled to feed the plant during the plant commissioning and testing period. The gravels are being stripped of overburden and excavated from the flood plain in panels utilizing backhoes and trucks. The treated gravels and overburden will be disposed of as fill into the mined out areas. This method meets all of the mining requirements as licensed and is restricted only by the weather conditions – in particular the annual wet season when the river rises and operations will relocate to the higher terraces. . Once the rainy season commences, DF-II will process stockpiled material and in turn mobilize its mining and excavation equipment to higher terraced areas contained within its claims, allowing production to continue unabated during difficult weather conditions.

It is anticipated that this strategy and operation will prove to be very successful in the coming years and will underpin future expansion plans which the above geological resources justify. At this time DF-II have completed the requisite infrastructure required for an operation of this size. Labour is readily available and as the processing operation moves from single shift operations into a full 24 hour, 3 shifts per day rotation; DF-II will draw from the local area for skilled and unskilled workers.

The CEO of Amazon, Mr. Christopher Morgan, states: "This initial acquisition by Sola will begin to provide Amazon with access to the finance markets that it has been unable to reach in the past. This opportunity will enable Amazon to secure the required capital, in partnership with Sola, in order to more fully exploit the asset and resource. "

Sola will be updating its website to include the details described in this news release in the coming weeks.

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 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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