Solara Exploration Ltd.
TSX VENTURE : SAA.A

Solara Exploration Ltd.

January 24, 2012 09:30 ET

Solara Exploration Updates Recently Completed Cardium Horizontal Well

CALGARY, ALBERTA--(Marketwire - Jan. 24, 2012) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") advises that it has recently fraced (stimulated) and completed its operated Cardium horizontal well located at 9-22-46-6 W5M in the Buck Lake (Pembina) area of Alberta. The Company is currently proceeding with pressure testing operations and the equipping and tie-in of the well for production. Solara recovered substantially most of the frac oil over the period of its initial three day testing and flaring operations provided for by the applicable regulations. Upon the well being tied-in for production and recovery of the remaining frac fluid, Solara will report on oil, NGLs and natural gas production rates for the well in early February. The Company also reports that it may have additional drilling locations on its working interest lands on the prospect based on management's internal assessment of the results obtained to date with respect to the 9-22 well. Solara owns a 35% working interest in the Cardium horizontal well and in 480 acres of lands covering the prospect.

The Company also advises that Brent J. McGillivray, Vice President of Operations and Engineering, recently resigned to pursue other opportunities.

About Solara Exploration

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

83,260,732 Class A Shares

READER ADVISORY 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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