Solara Exploration Announces Normal Course Issuer Bid

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.

Solara Exploration Ltd. ("Solara" or the "Company") (TSX VENTURE:SAA.A) (TSX
VENTURE:SAA.B) announces that, subject to regulatory and TSX Venture Exchange
("TSXV") approval, the Company intends to purchase certain of its Class A Shares
and Class B Shares by way of a normal course issuer bid (the "NCIB") through the
facilities of the TSXV. Solara may purchase up to a maximum of 2,251,147 Class A
Shares and 49,335 Class B Shares, which represents 5% of the Company's current
issued and outstanding Class A Shares and Class B Shares, respectively. Solara
will commence open market purchases of its shares immediately upon the approval
of the NCIB by the TSXV and terminate any such purchases on or before April 30,
2011. The Company may purchase up to, but not more than 2%, of its issued and
outstanding Class A Shares and Class B Shares in any 30 day period during the
term of the NCIB. As of the date of this news release, the Company has
45,022,937 Class A Shares and 986,700 Class B Shares issued and outstanding.
Canaccord Capital Corporation of Calgary, Alberta has been appointed by Solara
as its broker to facilitate the open market purchases of its shares pursuant to
the NCIB. All purchases of shares under the NCIB will be undertaken through the
facilities of the TSXV at the prevailing current market price of the shares of
the Company as traded on the TSXV. 


The Directors of Solara are of the view that the current market prices of the
Company's shares are lower than the net asset value per share based on internal
management estimates. Accordingly, the Directors believe that the repurchase of
the shares represents a sound business decision for the Company. All shares
purchased under the NCIB will be returned to treasury and cancelled.
Shareholders of Solara will be advised of the NCIB in the next quarterly report
of the Company to be mailed to Shareholders and filed on SEDAR. Shareholders may
obtain a copy of the Notice of Intention to Make a Normal Course Issuer Bid from
Solara without charge. 


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.


45,022,937 Class A Shares

986,700 Class B Shares