Solara Exploration Ltd.
TSX VENTURE : SAA.A

Solara Exploration Ltd.

July 27, 2011 09:30 ET

Solara Exploration Announces Private Placement of Flow-Through Shares

CALGARY, ALBERTA--(Marketwire - July 27, 2011) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") announces that it is proceeding with a non-brokered private placement of up to $1,200,000 of Units (the "Private Placement"). Each Unit is priced at $0.40 and is comprised of one (1) Class A Flow Through Common Share ("Flow Through Share") of the Company and one-half (1/2) of a Flow- Through Class A Common Share Purchase Warrant. Each whole Warrant plus $0.50 is exercisable into one (1) Class A Common Share until December 31, 2011. The Units are being sold to partially fund the Company's active drilling program on the Buck Lake (Pembina) Cardium horizontal oil project in west central Alberta and on the Sylvan Lake Leduc D3 oil reef play in central Alberta.

About Solara Exploration

Solara Exploration focuses on the exploration, development and production of oil and gas properties within its core areas in the Buck Lake (Pembina) area and two heavy oil projects in the Dewberry and Borradaile areas of eastern Alberta. Solara is a publicly traded junior oil and gas company listed on the TSX Venture under the trading symbol SAA.A. More information is available on the Company's website at www.solaraexploration.com.

75,411,402 Class A Shares

Neither the 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.

Contact Information