Solace Resources Corp. Options Blachford Heavy Rare Earth Property, Thor Lake Area NWT and Announces Non-Brokered Private Placem

Solace Resources Corp. (TSX VENTURE:SOR) (the "Company" or "Solace") is pleased
to announce that it has signed a binding agreement with Zimtu Capital Corp. (TSX
VENNTURE:ZC)(FRANKFURT:ZCT1) and 877384 Alberta Ltd. (collectively the
"Vendors") pursuant to which the Vendors have granted to Solace an option to
acquire a 100% interest in and to the Blachford Rare Earth Element ("REE")
Property, located approximately 100 kilometres southeast of the city of
Yellowknife, Northwest Territories. The property is contiguous to Avalon Rare
Metals Inc.'s ("Avalon") Thor Lake REE Project.


The Blachford Property consists of one claim, totalling approximately 1,000
acres, within the north-central part of the Blachford Lake Intrusive Complex.
The Blachford Lake Intrusive Complex measures more than 10 kilometres in
diameter, the largest portion of which is covered by Avalon's Thor Lake Project.
At Thor Lake, five distinct zones or deposits of rare metal mineralization have
been identified: the Nechalacho Deposit and the North T, South T, S and R Zones.
Nechalacho is particularly notable for valuable heavy REEs such as europium,
terbium and dysprosium, relative to light REEs such as lanthanum and cerium. The
principal rock types in the Blachford Lake Intrusive Complex are syenites,
granites and gabbros and associated pegmatitic phases hosting rare metal
mineralization.


The Blachford Property optioned to Solace is located approximately 1,500 metres
northwest of the Nechalacho REE Deposit and about 800 metres west of the North T
Zone. The Property was staked by the Vendors when it became apparent that the
area was open for staking in late 2010. The Vendors have also staked three
additional claims (BLAT 01, 03, & 04 together the "BLAT Claims") which cover
approximately 6,000 acres and are contiguous to the north of Avalon's Thor Lake
Property. These claims are currently overlapped by a claim staked by a competing
staker, with the overlapped portions under dispute. The Vendors and Solace have
entered into a separate agreement so that any portion, or if applicable all, of
the BLAT Claims that are formally granted to the Vendors will be added to the
Blachford Rare Earth Property in the formal option agreement to be entered into
between the parties.


To acquire a 100% interest in the Blachford Property, Solace has agreed, subject
to acceptance of the TSX Venture Exchange ("TSX-V") to pay the Vendors $50,000
on signing the agreement, with additional cash payments of $150,000 over 12
months from receipt of TSX-V acceptance and:




--  One million common shares of the Company upon TSX-V acceptance; 
--  500,000 common shares of the Company on the 6-month anniversary of TSX-V
    acceptance; 
--  500,000 common shares of the Company on the 12-month anniversary of TSX-
    V acceptance; 
--  500,000 common shares of the Company on the 18-month anniversary of TSX-
    V acceptance.



The Vendors will retain a 2% Net Smelter Returns royalty on the property, of
which 1% may be purchased from the Vendors for C$1 million. A finder's fee,
subject to TSX-V acceptance, in amounts yet to be determined may be paid to
persons who introduced the Company to the Vendors.


As a condition of the option, the Vendors require Solace to complete a private
placement for total gross proceeds of a minimum of $500,000 and a maximum of
$1,000,000. Accordingly, Solace also announces a non-brokered private placement
financing of 6,000,000 units for gross proceeds of $600,000. Each unit is priced
at $0.10 and will include one share and one share purchase warrant exercisable
at $0.15 for a period of 5 years. All of the above is subject to TSX-V
acceptance. Shares acquired by the placees, and shares which may be acquired
upon the exercise of the share purchase warrants, will be subject to a hold
period of four months plus one day from the date of completion of the financing
in accordance with applicable securities legislation. Finder's fees and warrants
in amounts yet to be determined may be paid to persons who introduce the Company
to investors.The proceeds of the private placement will be used to make the
payments to the Vendors outlined above and advance the Company's mineral
exploration projects.


Solace also announces that it has granted 335,000 incentive stock options to
directors and officers of the Company, pursuant to the Company's Incentive Stock
Option Plan. The options are exercisable at a per share price of $0.13 until
June 15, 2016.


NI 43-101 Disclosure 

The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in National Instrument 43-101
and reviewed on behalf of the Company by Jody Dahrouge, PGeo, of Dahrouge
Geological Consulting Ltd., a qualified person.


This news release contains certain statements that may be deemed
"forward-looking statements". Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Solace Resources
Corp. believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of Solace Resources Corp.'s management on the date the
statements are made. Except as required by law, Solace Resources Corp.
undertakes no obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors, should
change.