Sola Resource Corp.

Sola Resource Corp.

December 30, 2010 10:37 ET

Sola Transfers Interest in 5 Mineral Claims in the State of Rondonia in Brazil to New Subsiduary and Closes Private Placement

VICTORIA, BRITISH COLUMBIA--(Marketwire - Dec. 30, 2010) - Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or "Sola") is pleased to announce it has transferred it's interest in 5 mineral claims in the State of Rondonia, Brazil to a newly formed subsidiary Mia Maio Minerçao Ltda.

Mia Maio Mineracao has acquired a 75% interest in 5 mineral claims near Espigao, Rondonia, from Tecnowledco Ltda. previously announced on December 20, 2010. Mia Maio Mineracao is 100% controlled by Sola. The 5 mineral claims represent, 2 diamond claims comprising 12,732 hectares within 10km of Sola's Carolina and Amazon's Pitomba claims and adjacent to properties previously explored by Rio Tinto and Vaaldiam and 2 claims of potential high-grade manganese, on 11,541 hectares adjacent to the Rio Madeira property. A gold claim also covers approximately 3,397 hectares. The Company will be conducting a geotechnical survey in 1st Q of 2011 and preparing an NI 43-101 on the properties initially focusing on the manganese claims. The company will also be preparing a submission to the DNPM for a Guia (Small Mining License) for the properties, in order to conduct bulk sampling on the manganese and diamond claims. It is planned to utilize Amazon's Pitomba 400 ton per day bulk sampling plant, situated in Espigao adjacent to Sola's Carolina diamond processing plant.

With the pending acquisition of 50% of the Rio Madeira and the acquisition of the Tecnowledco claims, the company has decided not to focus on its option on the Vein and Jabori manganese claims, but instead concentrate on near term cash flow from existing operations.

Further to the company's news release of December 20, 2010, the TSX Venture Exchange has accepted for filing the Non-Brokered Private Placement announced October 25, 2010 under the terms stated in the December 20, 2010 release. The hold period on the 10,897,500 shares issued expires on 25 April, 2011.

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.

Contact Information