Sola Resource Corp SL SL.v (fka SOLAF)

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Sola Resource Corp.: Exploration Progress and Development Report
5/24/2007
- Ground-based Geophysical Surveys recording continuing success

CALGARY, ALBERTA, May 24, 2007 (MARKET WIRE via COMTEX News Network) --

During the month of May, Sola Resource Corp. (the "Company") (TSX: SL) has been making considerable progress in its exploration and development activities in the vicinity of the diamond-bearing Carolina Kimberlite pipe and on the Company's mineral claims in the Pimenta Bueno region in the State of Rondonia in NW Brazil.

Ground-based geophysical surveys to date have generated numerous anomalies within the area surrounding the Carolina diamond pipe. Targets are continually being ground-truthed and auger testing of some anomalies has been ongoing. Since the inception of the ground-based geophysics programs a total of 169.6 line kilometers of magnetic (Mag) surveys have been completed and 20.3 line kilometers of electromagnetic (EM) surveys have been performed.

The kimberlite indicator mineral (KIM) surveys continue over Sola's claims. To date 1506 samples have been collected. Of these samples, 1033 have been processed to concentrate heavy-minerals and magnetic-mineral fractions. Of these processed samples, 597 have already been sorted and searched for indicator minerals. A total of 264 samples have been found to be "anomalous" i.e. to contain minerals in the normal KIM class.

Stripping of overburden from the mid-sector of the kimberlite pipe has exposed weathered and undisturbed kimberlite over an area of 1.5 hectares (3.7 acres). Examination of the exposed, weathered kimberlite reveals distinct palimpsest textures of diatremic nature and the presence of abundant large megacrysts of indicator minerals such as pyrope garnets and ilmenites.

The Company has commenced its pre-feasibility study of the Carolina Kimberlite diamond deposit. This process was initiated with the stripping of overburden and mapping the exposed kimberlite. The study will progress with 2000 meters of diamond-drilling and the bulk sample collection of a minimum of 5000 tonnes of kimberlite. The collection and processing of a bulk sample from the Carolina Diamond pipe and testing will commence under the direction of Canamera Geoscience Corp. and will begin concurrent with the drill program. The bulk sample will be collected from areas that have been drill-tested once the drill rig and pads have been removed.

The diamond-drilling rig is now at the Carolina Kimberlite and drilling of the first vertical hole into the kimberlite is expected to commence very shortly. In preparation for the drilling campaign construction of concrete drill pads is now underway.

The drill core and bulk sample material will then be shipped off-site for processing under mineralogical laboratory conditions.

The forthcoming data from the bulk sample program and diamond drilling on the Carolina kimberlite will serve as part of the requirement for a pre-feasibility study.

The data generated from this program will contribute to the development of a feasibility study regarding the economic viability of the Carolina kimberlite.

Other requirements of this process that include the environmental baseline study and negotiations with the current landholder have already been completed.

While moving the Carolina deposit through pre-feasibility to feasibility, the Company is actively exploring the environs of the Carolina kimberlite in an effort to enhance and augment the current potential mining plan.

Prof. Roger D. Morton B.Sc., Ph.D., P.Geol. (Alta), a qualified person for the purpose of National Instrument 43-101, has reviewed and verified the contents of this news release.

We seek safe harbor.

ON BEHALF OF THE BOARD OF DIRECTORS OF SOLA RESOURCE CORP.

Thomas Kovacs, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Sola Resource Corp. Thomas Kovacs President and CEO [phone] [phone] (FAX) Email: [e-mail] Website: www.solaresourcecorp.com

SOURCE: Sola Resource Corp.

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