Sola Resource Corp.

Sola Resource Corp.

May 12, 2009 09:08 ET

Sola Resource Corporation: News Release

- Management change - Increase in Private Placement Maximum

CALGARY, ALBERTA--(Marketwire - May 12, 2009) - The Board of Directors of Sola Resource Corporation (TSX VENTURE:SL) (PINK SHEETS:SORSF) ("the Company") has accepted the resignation of Mr. Thomas Kovacs as President and a Director of the Company effective immediately. The Company wishes to thank him for his contributions to the development of Sola Resource Corporation over the past years.

The Board of Directors has appointed Prof. Roger Morton B.Sc. (Geol), Ph.D. (Geol), P.Geol. as its new President and William Pfaffenberger, Ph.D. as its CEO. Both will also continue to serve as Directors of the Company.

Prof. Morton has served on the boards and in management positions of several mineral exploration- and mining-companies. He was co-founder and former Vice President of Golden Star Resources Ltd. (Guyana, Suriname and French Guiana) and was also the former Chairman of Uruguay Mineral Exploration Ltd. (Uruguay). He is a qualified Professional Geologist in the Province of Alberta. Dr. Morton has conducted geological research at the Universities of Nottingham, Oslo, Hamburg, and Nancy. At present, he is a Professor Emeritus in the Department of Earth and Atmospheric Sciences at the University of Alberta, after teaching Economic Geology there for 28 years. Dr Morton has worked with the Canadian International Development Agency (CIDA) in Indonesia and with the Canadian Executive Service Organization (CESO) in Peru, Guyana, Costa Rica, and Zimbabwe. Over the past 50 years he has accumulated considerable international mineral exploration and mining experience in the United Kingdom, Norway, Sweden, Finland, Siberia, China, Indonesia, the Philippines, Japan, Australia, South Africa, Namibia, Zimbabwe, Alaska, Canada, Mexico, Guatemala, Costa Rica, Guyana, French Guyana, Suriname, Brazil, Uruguay, the southwestern USA, Greenland and Iceland.

Dr. Pfaffenberger is President and CEO of Torch River Resources having joined that company in April 2006. He is a retired Professor of mathematics who was a member of the Mathematics and Statistics Dept at the University of Victoria for 38 years. He served as a Member of the Board of Governors, was Chair of his department and served as Chair of the Board of Pension Trustees for 11 years overseeing a fund of over $400 million. He has a B.A., M.A. and Ph.D. from the University of Oregon. Besides being a director of Torch River Resources, he also serves as a director of three other public companies, Rainchief Energy Corp, Molycor Gold Corp and Goldrea Resources Corp. He is also President of a private minerals company, Fundamental Resources Corp.

The Company also wishes to announce an increase to the maximum amount for its private placement, dated April 17, 2009. This non-brokered placement of Units, at $.06 per unit is now for a total of up to 16,666,700 Units for a total amount of CDN $1,000,002 in its capital (the "Offering"). Each unit will be comprised of one common share and one non-transferable warrant (the "Warrant" or "Warrants"). Each warrant will entitle the holder to purchase one additional common share at a price of CDN $.15, for a period of 24 months from the date of issuance of the Units.

We seek safe harbor.


William E. Pfaffenberger, Chief Executive Officer

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

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