Sola Resource Corp.

Sola Resource Corp.

May 20, 2009 09:00 ET

Sola Resource Corp Reports Progress on Manganese and New LOI on Gold Property in British Columbia

CALGARY, ALBERTA--(Marketwire - May 20, 2009) - Sola Resource Corp. (the "Company") (TSX VENTURE:SL) (PINK SHEETS:SORSF) wishes to make the following announcements:

Manganese Progress

As previously reported (April 28, 2009) Sola is progressing in its efforts to place its new discovery of Manganese into small scale production. An environmental assessment has been completed as part of the process of attaining a GUIA (Guia de Utilizacao). Sola is arranging for the construction of sorting screens, which will be required to sort the cobbles of high grade Manganese which occur in soil at the new discovery. Sola will report further progress as it occurs.

Letter of Intent

The Company has entered into a Letter of Intent to enter into an option to purchase a property located 105 kilometres northwest of Lillooet, British Columbia, Canada. The property has gold potential with some of 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 proposed option agreement calls for staged payments to the optionee totaling 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 the option is completed, Sola would own rights to 100% of the property and the optionee would retain a 2% NSR. The optionee is a company with a shareholder who is an officer of Sola, therefore this transaction will be viewed as non-arms length and handled by an independent subcommittee of Sola's Board of Directors.

The Company is in discussions for the financing of the development of the property. The option exercise will be contingent upon due diligence, securing finance for the project and completion of the option negotiation.

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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