Solana Resources Limited ("Solana" or the "Company") - Grant of Stock Options



    CALGARY and LONDON, Dec. 13 /CNW/ - Solana Resources Limited (TSX-V: SOR;
AIM: SORL) is pleased to announce that it has granted stock options to
purchase 1,665,000 common shares to various Directors, Officers, employees or
consultants of Solana or its wholly owned subsidiary, Solana Colombia
Petroleum Exploration (Colombia) Limited. Seven Directors of Solana received
an aggregate of 400,000 of the 1,665,000 options which were granted. Details
of options granted to Directors are:

    
                    -------------------------------------
                    Name               Number of Options
                    -------------------------------------
                    Ray Antony              50,000
                    -------------------------------------
                    Stan Grad               50,000
                    -------------------------------------
                    Grant Howard            50,000
                    -------------------------------------
                    Roy Hudson              50,000
                    -------------------------------------
                    Keith Jackson           50,000
                    -------------------------------------
                    Joaquin Moreno          50,000
                    -------------------------------------
                    Scott Price            100,000
                    -------------------------------------
    

    The options were granted with an exercise price of $2.25 per share, being
the closing price of the Company's shares on the TSX Venture Exchange on
December 12, 2007. All options expire on December 12, 2012. The options shall
vest as to one-third on the first anniversary, one-third on the second
anniversary and the remaining one-third on the third anniversary. The stock
option grant is subject to regulatory approval. The Company has determined
that exemptions from the various requirements of TSX Venture Exchange Policy
5.9 are available for the grant of these options. These arrangements have been
approved by Solana's Board of Directors as being in the best interests of the
Company and its shareholders, reflecting the need to attract, retain and
incentivize top quality directors, officers, employees and consultants in
present market circumstances.

    Solana Resources Limited

    Solana (www.solanaresources.com) is an international resource company
engaged in the acquisition, exploration, development and production of oil and
natural gas. The Company's properties are located in Colombia, South America
and are held through its wholly owned subsidiary, Solana Petroleum Exploration
(Colombia) Limited. The Company is headquartered in Calgary, Alberta, Canada.

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
    ADEQUACY OR ACCURACY OF THIS RELEASE.





For further information:

For further information: Solana Resources Limited, Scott Price,
jsp@solanaresources.com, (403) 770-1822; Ricardo Montes,
rmontes@solanacolombia.com, (403) 668-6604; Nabarro Wells & Co. Limited
(Nominated Adviser), Robert Lo, RobertLo@nabarro-wells.co.uk, +44 20 7710
7400; Marc Cramsie, MarcCramsie@nabarro-wells.co.uk; Tristone Capital Limited
(UK Broker), Nick Morgan, nmorgan@tristonecapital.com, +44 207 355 5800;
Pelham Public Relations, Charles Vivian, charles.vivian@pelhampr.com, +44 207
743 6672; Philip Dennis, philip.dennis@pelhampr.com, +44 207 743 6363

Organization Profile

SOLANA RESOURCES LIMITED

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