SL

Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or
"Sola") is pleased to provide information on the Parauna Diamond Project,
("Parauna"), in the Diamantina region of Minas Gerais, Brazil. 


Sola, pursuant to the Share Exchange Agreement, dated November 22nd, 2010; (the
"SEA"), Sola will acquire a 30% direct ownership in Amazon Resources Limited,
("Amazon"), which owns amongst other assets, a wholly owned subsidiary named
DF-II Ltda., ("DF-II"), that carries out the Brazilian operations of Amazon. 


Parauna comprises some 500 Hectares in aggregate, distributed over 4 claims and
a further claim currently in process. The initial project has been licensed for
mining and meets all environmental controls and approvals. The property sits
within the Parauna river valley, together with its flood plain and the elevated
terraces from past river courses, which form an important part of the property
package. These higher terraces provide potentially additional exploration and
mining areas that are yet to be explored. The river has also changed its course
over the years and as such there are several unexplored areas that need to be
drilled and tested in order to quantify further potential. 


Previous exploration works on Parauna has helped define the mining plan drawn up
by Amazon staff including the CEO of Amazon, Mr. Christopher Morgan and General
Manager, Mr. Peter Kilroy. With extensive local and international mining
experience to draw upon, the company has installed a small scale commercial
processing operation in a cost effective manner. The facility can process 35
cubic meters of material per hour, and through a series of three settling ponds
is able to reuse almost 100% of process water. Following gravity separation by
conventional jigs and tables the alluvial diamonds and gold will be collected in
a separate secure facility. 


Previous exploration works have included full topographic, geophysical (ground
penetrating radar) and aerial surveying to 1:5,000 scale summarised by the
following; 




----------------------------------------------------------------------------
1. Percussion drilling                2. 12 bulk samples were completed     
    a. 807 holes drilled                  a. 34,600 cubic meters of         
    b. Total drilling was 6,100 meters       overburden                     
                                          b. 2,200 cubic meters of gravel   
                                          c. 2,165 stones collected         
                                          d. 171.9 carats collected         
                                          e. 231.1 grams of gold recovered  
----------------------------------------------------------------------------
3. Ground penetrating radar (GPR)     4. Controlled sampling of artisanal   
   surveying                             miners, 30,000 cubic meters of 
                                         gravel 
    a. 42.7 kilometres of surveying       a. 2,100 carats recovered         
    b. 48 drill holes, (370 meters),      b. 4,400 grams of gold            
       for survey control                                                   
----------------------------------------------------------------------------



In 2001, previous owners completed a National Instrument 43-101 compliant report
completed by Dr. Geoffrey Michael Evans of Toronto. The following results were
reported: 




----------------------------------------------------------------------------
Resource Category       Gravel(000 cubic                                    
                                 meters)    Diamond Carats         Gold Kgs.
----------------------------------------------------------------------------
Measured                           6,100           400,000               610
----------------------------------------------------------------------------
Indicated                            730            43,800                73
----------------------------------------------------------------------------
Inferred                           6,000           394,000               600
----------------------------------------------------------------------------



Past valuation of a parcel of Parauna diamonds has indicated an average value
range of $185 to $230 per carat.


In October 2010 DF-II commissioned the Parauna processing plant and despite
normal plant start up issues processed some 65% of plant capacity over the month
on a single shift basis. The plant is currently being debottlenecked and hopes
to reach full production on a two shift basis by early 2011. 


Diamondiferous gravels are currently being mined and stockpiled to feed the
plant during the plant commissioning and testing period. The gravels are being
stripped of overburden and excavated from the flood plain in panels utilizing
backhoes and trucks. The treated gravels and overburden will be disposed of as
fill into the mined out areas. This method meets all of the mining requirements
as licensed and is restricted only by the weather conditions - in particular the
annual wet season when the river rises and operations will relocate to the
higher terraces. . Once the rainy season commences, DF-II will process
stockpiled material and in turn mobilize its mining and excavation equipment to
higher terraced areas contained within its claims, allowing production to
continue unabated during difficult weather conditions. 


It is anticipated that this strategy and operation will prove to be very
successful in the coming years and will underpin future expansion plans which
the above geological resources justify. At this time DF-II have completed the
requisite infrastructure required for an operation of this size. Labour is
readily available and as the processing operation moves from single shift
operations into a full 24 hour, 3 shifts per day rotation; DF-II will draw from
the local area for skilled and unskilled workers. 


The CEO of Amazon, Mr. Christopher Morgan, states: "This initial acquisition by
Sola will begin to provide Amazon with access to the finance markets that it has
been unable to reach in the past. This opportunity will enable Amazon to secure
the required capital, in partnership with Sola, in order to more fully exploit
the asset and resource. " 


Sola will be updating its website to include the details described in this news
release in the coming weeks. 


For Reference;

Amazon is a privately held, U.K. based company with a Diamond and Gold
production facility in the Province of Minas Gerais, Brazil, and another
processing facility in the Province of Rondonia which is presently not
commissioned along with Options on property claims located in the Provinces of
Parana and Piaui. 


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
www.solaresourcecorp.com 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.

(TSXV:SL)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

(TSXV:SL)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024