Solaris Publishes Positive Pre-Feasibility Study Results and Maiden Mineral Reserve FOR the Warintza Project, with Significant Mineral Resource Increase, an Extensive MINE Life, and US$4.6bn NPV Highlights of the Press Release:

SOLARIS PUBLISHES POSITIVE PRE-FEASIBILITY STUDY RESULTS AND MAIDEN

MINERAL RESERVE FOR THE WARINTZA PROJECT, WITH SIGNIFICANT MINERAL RESOURCE

INCREASE, AN EXTENSIVE MINE LIFE, AND US$4.6bn NPV

HIGHLIGHTS OF THE PRESS RELEASE:

• Globally significant Mineral Resource with extensive mine life and first quartile cash costs driving significant

Free Cash Flow (“FCF”) generation:

o Average annual copper equivalent (“CuEq”) production of over 300,000 tonnes in the first five years and

over 240,000 tonnes during the first 15 years

o First quartile All-In Sustaining Cost (“AISC”) of US$0.85/lb of payable Cu for the first five years and

US$1.07/lb of payable Cu during the first 15 years

o Post-tax net present value (“NPV”) (8%) of US$4,617M (pre-tax NPV8% of US$7,492M) and a post -tax

internal rate of return (“IRR”) of 26% (pre-tax IRR of 34%)

o Average a nnual Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) of

US$1.9bn for the first five years and US$1.4bn during the first 15 years

o Average annual post-tax Free Cash Flow (“FCF”) of US$1.3bn for the first five years and US$1.0bn over

the first 15 years

o Initial capital costs (pre-production) of US$3.7bn (including 15.7% overall contingency)

o Attractive capital intensity of ~US$15,440/avg tpa-CuEq over the first 15 years

o 2.6 year post-tax payback period (1.9 year pre-tax payback)

• Maiden Mineral Reserve estimate of 1.3 billion tonnes (Proven and Probable) at 0.41% CuEq (0.31% Cu, 0.02%

Mo, 0.04 g/t Au and 1.30 g/t Ag), providing a mine life of 22 years

• 2025 Mineral Resource Estim ate (“MRE”) incorporates a 312% increase in Measured plus Indicated Mineral

Resources, at a cut-off grade of 0.1% Cu and a net smelter return (“NSR”) cut-off value of US$6.30/t, compared

with the published 2024 MRE

• Possibility of extending the mine life by a timeframe in the order of 25 to 30 years beyond the Mineral Reserves

• LOM average strip ratio of 0.53 to 1 (waste to ore) positions Warintza as one of the lowest strip ratio copper

mines globally, underpinning a very favourable strip-adjusted grade

• Operational simplicity driven by conventional open pit mining methods operating at low elevation and using

standard processing equipment

• Excellent access to infrastructure (water, power, roads, ports, etc.)

• Production of both a high-quality copper concentrate and a clean molybdenum concentrate, both products have

non-material levels of deleterious elements

• Pre-Feasibility Study prepared in conjunction with highly experienced consultants Ausenco, Knight Piésold,

and AMC

Quito, Ecuador –– November 6, 2025 –– Solaris Resources Inc. (“Solaris” or the “Company”) (TSX: SLS; NYSE: SLSR) is

pleased to announce the results of a Pre-Feasibility Study (the “PFS”) with an updated Mineral Resource Estimate (“2025

MRE”) and maiden Mineral Reserves for its Warintza Project (“Warintza”, the “Project” or the “Warintza Project”), located

in southeastern Ecuador.

The Company will host an investor presentation, covering the announcement, via the Investor Meet Company (“IMC”)

platform today, November 6, 2025. Further details can be found below.

Matthew Rowlinson, CEO and President of Solaris Resources Inc. said: “Warintza checks every box: global scale, size, and

longevity, technical simplicity in a supportive mining jurisdiction , exceptional economics driven by a world -class strip

adjusted grade, and above all, optimal timing to production in a tightening copper market.

With over 3.7 billion tonnes of Measured and Indicated Resources, 2.1 billion tonnes of Inferred Resources, 1.3 billion tonnes

of Mineral Reserves, a low strip ratio, and early access to high-grade material, Warintza stands as one of the most

compelling copper development assets anywhere in the world. We are fully funded for a construction decision through a

US$200 million non-dilutive financing from Royal Gold earlier this year, while importantly retaining 100% ownership and

full strategic control.

In a copper market characterized by declining grades, few new discoveries , and increasingly complex permitting

environments, Warintza is uniquely positioned to come online at the right moment, helping meet a critical global supply

gap, while delivering strong returns to stakeholders.

This is a rare window of opportunity : a generational discovery in a mining -friendly jurisdiction, with deep community

support and a proven management team driving it forward. The future is bright , and we look forward to unlocking

Warintza's real value.”

A summary of key operating and financial metrics from the PFS is presented below.

Metric Units First 5 years of

Production

Avg.

First 15 years of

Production

Avg.

LOM

Mining Summary

Strip ratio t:t 0.371 0.381 0.532

Production Summary

Average Annual Throughput Mt 60.2

CuEq3 head grade % 0.58 0.47 0.41

Cu head grade % 0.44 0.36 0.31

Cu recovery % 89 86 84

Average Annual CuEq3

Production kt 304 242 205

Total CuEq3 Production kt 4,501

Average Annual Cu

Production kt 230 183 156

Total Cu Production kt 3,436

Average Annual Mo

Production kt 10.8 8.6 7.0

Total Mo Production kt 154

Average Annual Au

Production koz 71 57 49

Total Au Production koz 1,079

Average Annual Ag

Production Moz 1.8 1.3 1.2

Total Ag Production Moz 26.6

Operating Costs

Mine Operating Costs US$/t-moved 1.25 1.37 1.38

Mine Operating Costs US$/t-milled 3.38 2.80 2.40

Processing US$/t-milled 5.58 5.58 5.58

G&A US$/t-milled 0.79 0.78 0.78

Total Operating Costs US$/t-milled 9.74 9.16 8.75

C1 Cash Costs4 US$/lb-Cu payable 0.59 0.83 1.01

AISC5 US$/lb-Cu payable 0.85 1.07 1.25

Capital Expenditure

Initial capital costs US$M 3,729

Capital Intensity6 US$/Avg tpa-CuEq 12,260 15,440 18,230

Sustaining capital costs US$M 1,713

Closure cost US$M 200

Financial Metrics7

Long term Copper Price US$/lb 4.50

Average Annual EBITDA US$M 1,912 1,427 1,156

Total EBITDA US$M 25,433

Average Annual Free Cash

Flow (Pre-tax)8 US$M 1,829 1,348 1,088

Free Cash Flow (Pre-tax)8 US$M 23,936

Average Annual Free Cash

Flow (Post-tax)8 US$M 1,341 985 792

Free Cash Flow (Post-tax)8 US$M 17,431

Total Free Cash Flow (Pre-

tax)9 US$M 20,007

Total Free Cash Flow (Post-

tax)9 US$M 13,502

NPV8% (Pre-tax) US$M 7,492

IRR (Pre-tax) % 34%

Payback10 (Pre-tax) Years 1.9

NPV8% (Post-tax) US$M 4,617

IRR (Post-tax) % 26%

Payback10 (Post-tax) Years 2.6

Notes:

1: Strip ratio calculated by dividing the tonnage of waste mined by the tonnage of mineralized material mined above the cut-off grade.

2: Strip ratio calculated by dividing the tonnage of waste mined plus mineralized material above the cut-off grade unreclaimed from stockpiles by

the tonnage of ore processed.

3: CuEq grade calculation assumes metal prices of copper US$4.00/lb, molybdenum US$20.00/lb, gold US$1,850/troy oz, and silver US$20.00/troy

oz. Sulphide material accounts for more than 99.9% of the Mineral Reserves. The CuEq formula for sulphide material is:

- Sulphide CuEq (%) = Cu (%) + 3.94 × Mo (%) + 0.52 × Au (g/t) + 0.01 x Ag (g/t).

4: C1 Cash Costs include mining, processing, general and administrative (“G&A”) costs; treatment and refining charges (“TCRCs”) for Cu & Mo

concentrate; royalties; streaming; and allowance for byproduct credits.

5: AISC includes C1 cash costs and sustaining capital costs.

6: Capital intensity is calculated as initial capital costs divided by the average annual copper equivalent production.

7: Economic analysis assumes metal prices of copper US$4.50/lb, molybdenum US$20.00/lb, gold US$2,800/troy oz for the first three years and

US$2,500/oz for the remainder of the life, and silver US$28.00/troy oz.

8: Free Cash Flow during production periods only.

9: Total life of mine Free Cash Flow, including initial capital costs and closure.

10: Payback period is calculated from the beginning of commercial production, after construction is completed.

Warintza exhibits significant potential to be a tier 1 asset, including:

1: Size, Scale & Longevity

The 1.3 billion tonnes of Mineral Reserves, 3.7 billion tonnes of Measured and Indicated Resources, and 2.1 billion tonnes

of Inferred Resources offer potential to increase longevity and optionality. The Mineral Resources are inclusive of the

Mineral Reserves. The current mine plan supports average annual copper equivalent production of over 240,000 tonnes

over the first 15 years, and over 300,000 tonnes in the first five years (average annual copper production of 230,000 tonnes

in the first five years, and over 180,000 tonnes during the first 15 years), placing Warintza firmly in the top tier of future

global copper producers and amongst the largest copper development opportunities globally that remains independent

of any cornerstone equity attachment from a major mining company.

The Mineral R eserves currently support a mine life of over 20 years, limited by the design storage of the Tailings

Management Facility (“TMF”) of 1.3 billion tonnes. This engineering limitation, consistent with the Estudio de Impacto

Ambiental - Environmental Impact Assessment ( “EIA”) application, defines the maximum processing capacity and,

therefore, the Mineral Reserves mine life, rather than a more complete realization of the potentially available Mineral

Resources. The over 20 years of mine life projected in the PFS offer the Company significant time to complete the drilling

and permitting required for a subsequent phase, with multiple potential locations for future TMFs already identified.

Subsequent to the establishment of criteria for the PFS, a conceptual expanded pit optimization exercise was completed

in consideration of the possibility for a future increase in TMF capacity and without the limitation of the current Project

footprint. The results of the conceptual exercise indicated a shell with a larger mineralized inventory at potentially similar

grades to the PFS Mineral Reserves. Were such a shell to be ultimately realized, and contingent on all necessary supporting

aspects being favourable, including with respect to any impact on key infrastructure, there could be a possibility to extend

the mine life by a timeframe of the order of 25 to 30 years beyond the PFS Mineral Reserves. Improvements to the mine

plan could also be possible that would reflect further resource benefit optimization, such as delaying the processing of the

low-grade stockpile and deferring closure activities. Solaris again notes the conceptual nature of the expanded pit exercise

and that it does not represent any increase in Mineral Reserve estimates over those presented in th is 2025 Technical

Report.

Warintza is a porphyry copper ore body with valuable by -products that diversify revenue. Over the first 15 years, the

projected average annual by-product production includes:

• Over 8,600 tonnes per year of molybdenum;

• 57,000 ounces per year of gold; and

• 1.3 million ounces per year of silver.

The project will produce both a clean molybdenum concentrate and a high-quality copper concentrate, both with non-

material levels of deleterious elements, such as arsenic, enhancing offtake flexibility and blending economics.

2: Technical Simplicity

Warintza will employ conventional open pit mining methods, with competent rock conditions allowing for favourable

slope angles. Operating at an average elevation of 1,200 m with available fresh water and power infrastructure, the

project will leverage conventional processing equipment. Further, the site’s natural topography enables a self-contained

water basin and gravity-fed TMF design, enhancing water monitoring and management while reducing environmental

risk and energy requirements.

3: Supportive Mining District

As an export -oriented nation, Ecuador has a strong existing infrastructure. Paved highways cover the majority of the

300km route to the port, with port facilities already handling similar products from a nearby copper mine.

Warintza is underpinned by a strong and structured social foundation, built through formal agreements, inclusive dialogue,

and shared value creation with Indigenous communities and local stakeholders. In 2019, Solaris established a Strategic

Alliance with the Shuar communities of Warints and Yawi, creating a participatory model for decision -making, oversight,

and benefit sharing. This led to the signing of a long-term Impacts & Benefits Agreement (“IBA”) in 2020, later updated to

reflect project growth. The IBA provides for employment, training, education, local procurement, infrastructure, and direct

financial benefits.

Building on this foundation, as of September 2025 , Solaris has now signed formal cooperation agreements with all

Indigenous organizations surrounding Warintza, including PSHA and FICSH , Ecuador’s two largest Shuar representative

bodies. These agreements, developed with the support of the Ecuadorian government, demonstrate Warintza’s

commitment to inclusive, Indigenous-led resource development.

At the government level, Solaris maintains close engagement with central, provincial, and municipal authorities, and has

collaborated transparently through key permitting and consultation processes, including the pilot implementation of Prior

Consultation protocols.

4: Robust Economics

The Mineral Reserves have an average copper equivalent grade of 0.41% and a strip ratio of 0.53 to 1. Combining the two

creates a highly competitive strip-adjusted grade, translating into lower costs, higher margins and reduced environmental

impact. Further, the near-surface high-grade mineralization enables increased early production, minimizing pre-stripping,

reducing upfront capital, and providing optimization opportunities for mine sequencing.

The key financial metrics include:

• First quartile All-In Sustaining Costs (“AISC”) of US$0.85/lb-Cu payable (first five years) and US$1.07/lb-Cu

payable (first 15 years).

• Post-tax net present value (NPV8%) of US$4,617M (pre-tax NPV8% of US$7,492M) and a post-tax internal rate of

return (“IRR”) of 26% (pre-tax IRR of 34%) using metal prices of US$4.50/lb copper, US$2,800/oz gold for the

first three years and US$2,500/oz for the remainder of the life, US$20/lb molybdenum, and US$28/oz silver.

• Average annual Earnings before Interest, Tax, Depreciation and Amortization (“EBITDA”) of US$1.9bn per year

(first five years) and US$1.4bn per year (first 15 years).

• Average annual post-tax Free Cash Flow (“FCF”) of US$1.3bn (first five years) and US$1.0bn (first 15 years).

• Capital Intensity of US$15,440/Avg tpa-CuEq over the first 15 years and total initial capital costs of US$3.7bn.

• Post-tax payback period of 2.6 years (1.9 years pre-tax payback).

5: District Exploration Hub

Warintza anchors what is emerging as a major new copper -producing district in southeastern Ecuador. The project sits

within a highly prospective porphyry corridor that includes the San Carlos and Panantza deposits to the west, both hosting

large, historical copper resources with similar geological settings and long-term development potential, and the Mirador

mine to the south.

The 2025 MRE incorporates a 312% increase in Measured plus Indicated Mineral Resources compared to the 2024 MRE,

with new mineralization defined on the western extension of the deposit. These areas demonstrate strong continuity,

near-surface grades, and excellent potential for further growth. Beyond the Warintza West, Central, and East deposits,

multiple satellite targets remain underexplored. The 2025 MRE supersedes the 2024 MRE with 142 additional diamond

drill holes, resulting in an increase of 964 Mt in Measured and 1,418 Mt in Indicated Resources at Warintza Central and

East. The addit ional drilling completed since the 2024 estimate has added additional material into the 2025 Mineral

Resource in the form of Warintza West whilst also converting Mineral Resources previously classified as Inferred into the

Indicated and Measured classes.

INVESTOR PRESENTATION

Solaris will host an investor presentation via the IMC platform on Thursday, November 6, 2025, covering today’s

announcement. The online event will take place at 14:00 (Zug) / 08:00 (Toronto). The presentation is open to all existing

and potential shareholders. Questions can be submitted at any time during the presentation.

Investors can sign up to IMC for free and add to meet Solaris Resources via:

https://www.investormeetcompany.com/solaris-resources-inc/register-investor

SUMMARY OF THE SOLARIS WARINTZA PROJECT PRE-FEASIBILITY STUDY

Overview

The Warintza Project is a copper -molybdenum porphyry deposit located in southeastern Ecuador. AMC Mining

Consultants (Canada) Ltd ( “AMC”) was commissioned by Solaris Resources Inc. to prepare the independent Technical

Report summarizing the results of a Pre-Feasibility Study for the Project.

Drilling conducted between 2020 and 2024 has delineated Warintza (Central, East, and West), supporting the generation

of a well-developed geological model. Extensive infill drilling, new metallurgical testing, and mine planning studies have

been incorporated into the PFS, which includes a simplified process flowsheet and an optimized mine design.

The PFS contemplates a single -phase open pit operation with a planned 22 -year LOM, based on flotation of copper

sulphide mineralization. The LOM is currently limited by the design storage capacity of the Tailings Management Facility

of 1.3 billion tonnes. This engineering limitation, consistent with the Environmental Impact Assessment application,

defines the maximum processing capacity and, therefore, the reported LOM, rather than rather than a more complete

realization of the potentially available Mineral Resources.

The PFS has been prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”), “Standards

of Disclosure for Mineral Projects” of the Canadian Securities Administrators (“CSA”) for lodgement on CSA’s “System for

Electronic Data Analysis and Retrieval Plus” (“SEDAR+”).

The Warintza Project consists of porphyry copper –molybdenum deposits that are proposed to be developed using

conventional open-pit mining methods. Mineral processing for the Project is planned to include crushing, grinding, and

flotation to produce a copper concentrate, with gold and silver by-products, and a separate molybdenum concentrate.

The Property consists of nine metallic mineral concessions covering a total of 26,773 ha (268 km²). Solaris announced an

option agreement to acquire up to 100% interest in ten additional concessions adjacent to the Warintza Property, totalling

approximately ~40 km², which are considered prospective for porphyry copper and epithermal gold mineralization.

Solaris has signed a Cooperation, Benefits, and Access Agreement (Impact and Benefits Agreement) with local

communities within the Project area. The agreement, originally signed in March 2022 and updated in April 2024, grants

surface access and use rights necessary for exploration and development activities.

The EIA application was submitted by Solaris in August 2024 to the Ecuador Ministerio de Ambiente, Agua y Transición

Ecológica - Ministry of Environment, Water, and Ecological Transition (“MAATE”), recently incorporated into the Ministerio

de Ambiente y Energía - Ministry of Environment and Energy ( “MAE”). Approval of the EIA will be required before

operating and environmental permits can be issued. At the effective date of the PFS, the concessions are in good standing,

and Solaris holds all permits required to conduct ongoing exploration activities, including Environmental Licenses for

advanced exploration in the Caya 21, Caya 22, and Curigem 9 concessions and Environmental Registr ations for initial

exploration for the remaining concessions.

Accessibility, climate, infrastructure, and physiography

The Warintza Project is located in the Morona Santiago province, and is accessible by national and provincial highways,

with a final 58 km along the Limón–Warints road.

Topography is rugged, with elevations between 800 m and 2,700 m above sea level and slopes of 25°–40°. The climate is

tropical humid (Af, Köppen -Geiger) with an average temperature of 22.9°C and annual precipitation of ~1,900 mm,

permitting year-round operations. The average elevation of the Warintza pit is 1,200 m.

The region has demonstrated mining viability under similar physiographic and climatic conditions, as evidenced by the

nearby Mirador and Fruta del Norte operations.

Mineral Resources

The Warintza Mineral Resources have been reported at an NSR of US$6.30/t and a copper grade equal or greater than

0.1%, within an optimized pit shell at a revenue factor of 1. The Mineral Resources are reported from the regularized

model used as the input to the optimization studies. Tonnages have been rounded to the nearest 1 Mt.

Resource

Tonnage

(Mt)

Grade Contained metal

Classification CuEq

(%)

Cu

(%)

Mo

(%)

Au

(g/t)

Ag

(g/t)

Cu

(Mt)

Mo

(kt)

Au

(Moz)

Ag

(Moz)

Measured 1,196 0.45 0.35 0.02 0.04 1.31 4.1 231 1.7 51

Indicated 2,550 0.25 0.20 0.01 0.03 1.13 5.0 222 2.5 93

Measured plus Indicated 3,746 0.32 0.24 0.01 0.04 1.19 9.1 453 4.2 143

Inferred 2,092 0.20 0.16 0.01 0.02 1.11 3.3 141 1.6 75

Notes:

• The Mineral Resource Estimate was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for

Mineral Resources and Mineral Reserves (2014), and CIM MRMR Best Practice Guidelines (2019).

• Mineral Resources are reported within optimized open pit constraints and a net smelter return (NSR) cut -off value of US$6.30/t and 0.1% Cu cut-off grade,

based on a US$5.30/t processing cost and US$1.00/t G&A cost, with a mining cost of US$1.50/t + incremental mining costs increasing by US$0.015/t for every

bench below the reference level of 1,340 mRL for Warintza West, 1,145 mRL for Warintza Central, and 1,040 mRL for Warintza East; and US$0.010/t for every

bench above these reference levels.

• Metal prices: copper US$4.00/lb, molybdenum US$20.00/lb, gold US$1,850/troy oz, and silver US$20.00/troy oz.

• Respective metal recoveries (Oxide, Mixed, Sulphide): copper 40,85,88%; molybdenum 0,60,65%; gold 0,60,65%; silver 0,60,65%.

• Copper-equivalent grade calculation assumes metal prices and recoveries as per above and includes provisions for downstream selling costs:

– Sulphide CuEq (%) = Cu (%) + 3.94 × Mo (%) + 0.52 × Au (g/t) + 0.01 x Ag (g/t).

– Mixed CuEq (%) = Cu (%) + 3.76 × Mo (%) + 0.50 × Au (g/t) + 0.005 x Ag (g/t).

– Oxide CuEq (%) = Cu (%).

• Oxide and mixed material account for less than 0.01% of the total Mineral Resources.

• Mineral Resources are inclusive of Mineral Reserves.

• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

• The Mineral Resource Estimate was supervised by Mr Nicholas Szebor, MCSM, MSc (Mining Geology), BSc, CGeol, EurGeol, FGS, Dir ector and Global Lead –

Geosciences at AMC Consultants, who takes responsibility for the estimate. Mr Szebor is an Independent Qualified Person as defined by NI 43-101. Mr Szebor

is a European Chartered Geologist (European Federation of Geologists) and a Chartered Geologist and Fellow of the Geological Society of London.

• The Qualified Person is not aware of any known environmental, permitting, legal, taxation, socio-economic, marketing, political or other relevant factors which

could materially affect the stated Mineral Resources.

• All figures are rounded to reflect the relative accuracy of the estimate and, therefore, may not appear to add precisely; thi s includes the rounding of Au and

Mo to two decimal places.

• The effective date of the Mineral Resource estimate is 1 May 2025.

Since the release of the July 2024 MRE, an additional 75,000 met res of diamond drilling have been completed for a total

of 177,118 metres in the 2025 MRE estimation. The principal objective of this campaign of drilling was to upgrade Mineral

Resources from the Inferred category to the Measured and Indicated categories and to extend the Mineral Resource s to

Warintza West. The 2025 initial Mineral Resource declaration for the Warintza West area contributes tonnages of 455 Mt

to the Indicated and 996 Mt to the Inferred Mineral Resource categories. In reporting the 2025 Mineral Resources a change

was made to reporting at an NSR cut-off at US$6.30/t and 0.1% Cu cut-off grade rather than the 0.25% CuEq used in the

2024 MRE. A 0.25% CuEq was selected in 2024 to provide a conservative cut-off for reporting. The change to the NSR cut-

off corresponds to reporting at a lower CuEq approximating 0.15% CuEq and therefore includes some material excluded

as part of the 2024 estimate. The 2025 MRE also incorporates silver grades in the new estimation.

Mineral Reserves

The open pit Mineral Reserves are reported within an optimized pit design. The Mineral Reserves represent the

economically mineable part of the Measured and Indicated Mineral Resources and are presented below.