SL

Sola Resource Corp. (TSX VENTURE:SL) (PINK SHEETS:SORSF) (the "Company" or
"Sola") is pleased to announce that the non-brokered private placement of
shares, at $0.05 per share, for a total of 10,897,500 shares for a total amount
of CDN$544,875.00 in its capital (the "Offering") announced on October 25, 2010
has now been submitted for final approval by the TSX Venture Exchange. A finders
fee of $10,020 will to be payable in accordance with the policies of the TSX
Venture Exchange.


Sola intends to use the proceeds from the Offering for the continuation of the
due diligence, the corporate and operational review of Amazon Resources Limited
and general working capital.


Pursuant to Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument
61-101 ("MI 61-101"), the private placement may be classified as a "related
party transaction" as certain directors and officers of the Corporation (the
"Related Parties") are subscribing for common shares. In reviewing the
applicable valuation requirements under MI 61-101, the Corporation has
determined that the exemption set out in subsections (a) and (b) in section 5.5
of MI 61-101 are applicable since the aggregate consideration to be paid by the
Related Party does not exceed 25% of the market capitalization of the
Corporation as at the date hereof and the Corporation is only listed on the TSX
Venture Exchange and is not listed or quoted on any of the specified markets
listed in subsection 5.5(b). In addition, in reviewing the minority shareholder
approval exemptions, the independent directors determined that the exemption set
out in subsections (a) and (b) in section 5.7 of MI 61-101 is applicable.


The securities issued pursuant to the Offering are subject to a hold period
expiring four (4) months and one day from the date that the TSX Venture Exchange
issues its final bulletin.


Sola is a junior exploration company with assets in Canada and Brazil. The
Company has primarily focused on diamond, manganese and gold 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.

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