Sola Resource Corp.

Sola Resource Corp.

August 26, 2009 09:00 ET

Sola Resource Corp.: Private Placement Closing & Approval of Dash Gold Property

CALGARY, ALBERTA--(Marketwire - Aug. 26, 2009) - Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company"), wishes to announce that it has closed its Non Brokered Private Placement (the "Offering"), previously announced by way of news releases dated April 17, May 12, June 11 and July 9, 2009. The Offering comprised of 20,080,800 Units, for a total amount of CDN $1,004,040 in its capital. Each Unit was priced at $0.05 and comprises of one common share with a hold period to December 24, 2009 and one nontransferable share purchase warrant (the "Warrant" or "Warrants"). Each one Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of CDN$0.15 until December 24, 2011, a period of 24 months from the date of issuance of the Units.

The Company will pay a finder's fee(s) to two finders in accordance with the policies of the TSX Venture Exchange. The Company will use the proceeds of the Offering for the exploration and development of its mineral resource properties in Canada and Brazil, as well as for working capital and general corporate purposes.

The Company also wishes to confirm that the TSX Venture Exchange has accepted the Option Agreement, to purchase the Dash property located 105 kilometres northwest of Lillooet, British Columbia,Canada. The property has gold potential.

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 is not at arms length and, accordingly, such transaction has been approved by an independent sub-committee of Sola's Board of Directors.

Fundamental Resources Corporation, in anticipation of the 2009 drill program on the Dash property, excavated a hand trench at the SE end of drill pad DDH 82-1. This trench shows two (ENE and NE trending) steeply dipping shear zones. The narrow one near the SE end of the trench assayed 10.23 Au g/mt over 0.3 m and contained a small amount of visible gold. At the NW end of the trench a 2.8 m wide separate zone averaged 1.14 Au g/mt. The total length of the trench is 15.4 m and samples have now been taken along the middle of the trench and are presently in for assay.

DDH 82-1 was drilled by Barrier Reef Resources in 1982 and produced the following results:

Hole No. From (m) To (m) Length (m) Au gm/t Zone

DDH82-1 11.59 13.11 1.52 10.3 65M
DDH82-1 111.59 113.11 1.52 0.42 65M
DDH82-1 113.11 114.63 1.52 0.42 65M
DDH82-1 114.63 116.77 2.14 0.38 65M
DDH82-1 116.77 117.99 1.22 0.45 65M

Sola Resource Corp has now taken over the Dash property and will report drill results as they become available. Investors are invited to view the NI 43-101 technical report on the Dash property at Sola's updated web-site:

Andris A. Kikauka, P. Geo. is a Qualified Person under NI 43-101 and has reviewed and approved the technical data in this press release.

We seek safe harbour.


William Pfaffenberger, Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services 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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