Solaia Ventures Reports Gas Kick on South Maysville Well #1.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--July 26, 2001

- Company's Coalinga Nose Prospect Ahead of Schedule -

Solaia Ventures Inc. (the "Company", CDNX:"SAV"), a knowledge based oil and gas exploration company, announces today that drilling operations on the Company's first well on the South Maysville prospect (Timmons Well #1-33), has had a measurable gas kick in the Layton Sand layer at approximately 5500 feet. Drilling has continued to its current depth of 5,667 towards the target depth of 6,900 feet, with an average rate of 10.6 feet per hour.

Concurrently, the Company reports that current drilling operations on the Coalinga Nose Well No. 1 has reached the Kreyenhagen Shale layer below 8,020 feet, at an average of 30-60 feet per hour and it appears the drilling operations will move forward ahead of schedule. The Company anticipates that barring any unforeseen problems, the target of 12,000 feet should be reached within 8 to 10 days.

Furthermore, the Company's news release dated May 29th, 2001, regarding the repricing of 223,215 share purchase warrants (the "warrants") of the Company, the Company announces that the Canadian Venture Exchange Inc. (the "exchange") has consented to the repricing of the Warrants from $0.70 per share to $0.16 per share. The Warrants expire May 15th, 2001.

The amended warrants contain a forced exercise provision providing that in the event the common shares of the Company trade on the Exchange for 10 consecutive trading days at or above $0.20 the warrant holders will have 30 days to exercise their warrants. Warrants that have not been exercised within the 30-day period will expire on the 31st day.

In addition, the Company announces the launch of their Daily Drill Report, providing detailed online drilling reports for all four of the Company's current drilling prospects. The report is available to shareholders, potential investors and the general public, on the Company's web site or via real-time email delivery. Interested parties can view the Daily Drill Report or sign up for email delivery on the Company's web site located at www.solaiaventures.com.

About South Maysville Prospect

The South Maysville Prospect is one of three oil and gas prospects located in Oklahoma and collectively known as the Garvin County Drilling Program. The South Maysville Prospect is situated on the Southwest flank of a large broad Northwest plunging anticlinorium in the Pauls Valley Uplift geological province. Many small to medium size anticlinal and fault bound traps in this province have been developed to produce prolific amounts of Simpson oil. It is common for the Simpson 2nd Bromide sand, which is the primary object of the Maysville prospect, to produce in excess of 500 barrels of oil per acre-foot. Further, the Simpson 1st Bromide sands also primary objectives, commonly produce in excess of 300 barrels of oil per acre-foot. The other two of the three prospects in the Garvin County drilling program are known as East Brady Creek and North Whatever. The Company owns a 5% working interest in all three Oklahoma prospects.

About Coalinga Nose Prospect

Solaia's Coalinga Nose No. 1 gas well located in Fresno County, California was spudded on July 10th, 2001. The Coalinga Nose prospect consists of 5,000 acres of leased land and is located less than one mile Southeast of the East Coalinga extension, which has so far produced 503 million barrels of oil. The prospect is also less than one mile Northwest of the Kettleman Hills field, which has so far produced 2.9 trillion cubic feet and 458 million barrels of oil. To date, $2-million (U.S.) has been spent on the land including a 3-D seismic survey shot in 1997 covering 16 square miles including the prospect area. The Company holds a 5% working interest in the Coalinga Nose Prospect.

About Solaia Ventures Inc.

Solaia Ventures Inc. is a knowledge based oil and gas exploration company focused on the discovery and development of promising oil and gas projects throughout North America. For more information on the company and its current exploration projects visit the Company's web site at www.solaiaventures.com or contact Todd Hanas, investor relations, at 1-888-702-4478.

On behalf of the Board of Directors

"Arndt Roehlig" Director

THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words ``believes,'' ``expects,'' ``anticipates'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities and Exchange Commission. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.