SOLARA EXPLORATION UPDATES RECENTLY COMPLETED CARDIUM HORIZONTAL WELL

CALGARY, ALBERTA – January 24, 2012. Solara Exploration Ltd. ("Solara" or the "Company") advises that it has recently fraced (stimulated) and completed its operated Cardium horizontal well located at 9-22-46-6 W5M in the Buck Lake (Pembina) area of Alberta. The Company is currently proceeding with pressure testing operations and the equipping and tie-in of the well for production. Solara recovered substantially most of the frac oil over the period of its initial three day testing and flaring operations provided for by the applicable regulations. Upon the well being tied-in for production and recovery of the remaining frac fluid, Solara will report on oil, NGLs and natural gas production rates for the well in early February. The Company also reports that it may have additional drilling locations on its working interest lands on the prospect based on management’s internal assessment of the results obtained to date with respect to the 9-22 well. Solara owns a 35% working interest in the Cardium horizontal well and in 480 acres of lands covering the prospect.

The Company also advises that Brent J. McGillivray, Vice President of Operations and Engineering, recently resigned to pursue other opportunities.