Solara Exploration Announces Conversion of Class B Shares to Class A Shares

Solara Exploration Ltd. ("Solara" or the "Company") (TSX VENTURE:SAA.A)(TSX
VENTURE:SAA.B) advises that, as permitted under the Articles of the Company, the
Company has provided notification to the TSX Venture Exchange of its intention
to convert all existing Class B Shares into Class A Shares, effective as of
December 31, 2010. On that date, the Class B Shares will be delisted and holders
of Class B Shares will receive ten (10) Class A Shares of the Company for each
Class B Share held, resulting in an aggregate of 9,867,00 Class A Shares being
issued. There will be no fractional shares issued, however, the shares will be
rounded up to the next whole number. The Class A Shares are currently trading at
$0.74. The Company has notified Olympia Trust Company ("Olympia"), the Company's
transfer agent, of the transaction and Olympia shall issue the new Class A
Shares on the effective date. Registered holders of Class B Shares are requested
to deliver share certificates for Class B Shares to Olympia either by courier,
registered mail or direct delivery and Olympia will deliver the new Class A
Shares by first class mail. Shareholders registered with a brokerage or
investment house, need not take any action as the Class A Shares will be issued
automatically through the CDS system.


About Solara Exploration

Solara Exploration is a publicly traded junior oil and gas company focused on
the exploration, development and acquisition of oil and natural gas in Western
Canada.


READER ADVISORY

This news release contains certain forward-looking statements, which include
assumptions with respect to financing plans. The reader is cautioned that
assumptions used in the preparation of such information may prove to be
incorrect. All such forward-looking statements involve substantial known and
unknown risks and uncertainties, certain of which are beyond the Company's
control. Such risks and uncertainties include, without limitation, the ability
of the Company to reach settlement with certain of its creditors, risks
associated with oil and natural 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 and the United States, 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, and stock market volatility. 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, what
benefits, including the amount of proceeds, 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. 


65,326,944 Class A Shares

986,700 Class B Shares