Solara Exploration Ltd.
TSX VENTURE : SAA.A

Solara Exploration Ltd.

August 29, 2012 16:03 ET

Solara Exploration Releases Second Quarter Results

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2012) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") announces its unaudited consolidated financial and operating results for the three and six month periods ended June 30, 2012. The Financial Statements and Management's Discussion and Analysis ("MD&A") were filed today and are available for viewing on the System for Electronic Disclosure and Analysis ("SEDAR") at www.sedar.com.

About Solara Exploration

Solara is a junior oil and gas company focused on the exploration, development and acquisition of oil and natural gas in the Buck Lake (Pembina) and Dewberry areas of Alberta. Solara is publicly traded on the TSXV under the trading symbol SAA.A. More information is available on the Company's website at www.solaraexploration.com.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans, acquisitions and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control.

Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward- looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

108,710,732 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.

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