Solara Exploration Completes $3.36 Million Financing

Solara Exploration Ltd. (TSX VENTURE:SAA.A) (TSX VENTURE:SAA.B) ("Solara" or the
"Company") is pleased to advise that the Company raised aggregate proceeds of
$3,359,653 through the issuance of Units comprising a total of 7,465,896
Flow-Through Class A Shares at $0.45 per share and 3,732,948 warrants (the
"Private Placement"). One warrant plus $0.55 is exercisable into one Class A
Share on or before June 30, 2011. As part of the Private Placement, the Company
exercised its overallotment option for 765,896 Flow-Through Class A Shares and
382,948 warrants. The Company also paid a finders fee of $140,760 and issued
312,800 warrants exercisable at $0.45 until October 31, 2011 to an arm's length
brokerage firm pursuant to an agreement with the Company. All securities issued
pursuant to the Private Placement will be subject to a four (4) month hold in
accordance with the applicable securities regulations. The proceeds of the
financing will be used to fund the Company's share of four horizontal wells to
be drilled in the fourth quarter of 2010. The Company anticipates commencing the
first of two Cardium horizontal wells in early November.


Solara also advises that on September 1, 2010, the Company's Board of Directors
approved the granting of 155,000 stock options to employees and consultants of
Solara, subject to regulatory and TSX Venture Exchange approval. The options
were issued with an exercise price of $0.25 per share and have a five year term
with standard vesting provisions.


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.


61,849,205 Class A Shares

986,700 Class B Shares