Solara Exploration Announces Third Cardium Horizontal Drilling Success

Solara Exploration Ltd. ("Solara" or the "Company") (TSX VENTURE:SAA.A) (TSX
VENTURE:SAA.B) announces that it has recently completed the drilling and casing
of its third operated Cardium horizontal well located in section 9-45-5 W5M of
the Pembina (Buck Lake) are of Alberta. The Company will undertake the
completion and stimulation (fracing) of the well over the next several days and
anticipates that the well will be on production prior to the end of January.
This new well has been drilled within one-half of a mile of its initial
producing Cardium oil and gas well. The Company controls a 40% working interest
in the well. In addition, Solara has undertaken the stimulation of its second
operated Cardium horizontal well in section 17-45-5 W5M, and is currently
undertaking testing operations on the well. Based on the frac and load oil
recovery rates achieved to date, management's internal assessment of the well is
that it is performing in a comparable manner as its first producing Cardium
horizontal oil well that it drilled and completed in late 2010. Solara operated
the drilling of the second well on the basis of paying 30% of the drilling,
casing and completion costs to earn a 20.67% in section 17.


The Company also announces, as previously reported, that the 986,700 Class B
Shares of the Company were converted into 9,867,000 Class A Shares effective
December 22, 2010. As a result of the conversion, Solara now has 75,474,494
Class A Shares issued and outstanding.


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

BOEs may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


75,474,494 Class A Shares