Solara Exploration Completes Various Financing Activities

Solara Exploration Ltd. ("Solara Exploration" or the "Company") (TSX
VENTURE:SAA.A) (TSX VENTURE:SAA.B) is pleased to advise that it has raised
$500,000 through the issuance of 5,000,000 Class A Shares of the Company issued
on a flow-through basis (the "Flow-Through Shares") pursuant to the recent
exercise of 5,000,000 Purchase Warrants on the basis of one Warrant plus $0.10
for one Flow-Through Share. The Purchase Warrants were previously issued as part
of a private placement of Units comprised of Class A Shares and Purchase
Warrants in August, 2009 initially raising $510,000. The proceeds of the
financing will be used to fund a portion of the Company's capital drilling
program in 2010.


Solara Exploration also advises that pursuant to the Farmout, Option and
Conveyance Agreement (the "Farmout Agreement") dated June 30, 2009 with the
Marwayne Production Limited Partnership (the "LP"), the LP has exercised its
option to drill four wells to earn a working interest in the balance of the
Marwayne Project Lands located in eastern Alberta. The General Partner of the
LP, in cooperation with the Company, will undertake the drilling of the four
wells on the Marwayne Project Lands on behalf of the LP. The LP has recently
raised $1,500,000 to fund the drilling of the four wells which are expected to
be drilled in May subject to surface access and regulatory approval. To date,
the LP has funded the drilling of two producing oil wells and one oil and gas
well on the Marwayne Project Lands which were completed in late 2009 with an
initial capital contribution of $1,300,000.


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 may contain certain forward-looking statements, including
management's assessment of future plans and operations, and capital expenditures
and the timing thereof, that involve substantial known and unknown risks and
uncertainties, certain of which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with oil and 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, the United States and overseas,
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,
stock market volatility and market valuations of companies with respect to
announced transactions and the final valuations thereof, and obtaining required
approvals of regulatory authorities. 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 so, what benefits, including the amount
of proceeds, that 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.


45,022,937 Class A Shares

986,700 Class B Shares