Solaris Reports 57m of 1.11% CuEq, 69m of 0.82% CuEq and 69m of 0.77% CuEq in Near Surface Results; Extends Mineralization North, Northwest and Southeast
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Solaris Reports 57m of 1.11% CuEq, 69m of 0.82% CuEq and 69m of 0.77% CuEq
in Near Surface Results; Extends Mineralization North, Northwest and Southeast
August 15, 2024 – Vancouver, B.C. – Solaris Resources Inc . (TSX: SLS; NYSE: SLSR) (“Solaris” or the
“Company”) is pleased to report drill results from its ongoing 60,000m and 8-rig drilling program at its
Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador. Highlights are listed below with
detailed results in Figure 1 and Tables 1-2.
Highlights
Additional drilling has extended near surface, high-grade mineralization to the north, northwest and
southeast of the Mineral Resource Estimate (“MRE¹”). Ongoing drilling continues to focus on open lateral
extensions of mineralization with infill drilling aimed at upgrading mineral resources and converting
waste. The primary open vectors are to the northwest, southwest and to the southeast.
A series of holes from a step-out platform extended mineralization to the northwest with high-grades
from near surface. Mineralization in this direction comes into contact with a tabular granodiorite unit that
separates and underlies the Central deposit from Warintza West and a large, undrilled molybdenum soil
anomaly to the northwest.
SLS-86 (drilled southwest): 57m of 1.11% CuEq² within 105m of 0.88% CuEq² from near surface
SLS-84 (drilled west): 69m of 0.82% CuEq² within 102m of 0.64% CuEq² from near surface
SLS-82 (drilled east): 69m of 0.77% CuEq² within 249m of 0.38% CuEq² from surface
The Company has constructed a series of step-out platforms to the northwest to test the potential of this
anomaly and the connection to West and Central. Drilling is underway from the first platform,
approximately 1.3km northwest of SLS-86. The same approach is being taken with step-out platforms
to the southwest. These represent opportunities for a major expansion of the MRE in a significantly
enlarged pit.
Extensional drilling collared on the northern limit of the MRE has extended mineralization to the north,
while infill drilling in hole SLS-83 has converted waste within the pit:
SLS-87 (drilled northwest): 33m of 0.81% CuEq² within 114m of 0.38% CuEq² from surface
SLS-81 (drilled northeast): 165m of 0.54% CuEq² within 327m of 0.33% CuEq² from surface
SLS-80 (drilled east): 191m of 0.43% CuEq² from near surface
Extensional drilling in the southeast sector has extended mineralization to the south where it remains
opens for approximately 600m within a large 0.8km x 0.8km undrilled molybdenum soil anomaly that
defines the growth target in this area, with SLSE – 42 returning 300m of 0.57% CuEq² within 359m of
0.53% CuEq² from surface.
Additional drilling at Warintza East to the northeast encountered low grade mineralization in holes SLSE-
37 – 43 that serve to convert undefined waste within the MRE pit shell, with further drilling planned in
this direction and to the east.
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Complementary district exploration efforts are underway with geotechnical drilling in the Caya-Mateo
target area encountering epithermal clay alteration in the sandstone and high temperature alteration in
the underlying volcanics. This drilling is expected to provide information to aid in more focused targeting
efforts. Fieldwork in the emerging Celestina epithermal gold/silver area continues with the next batch of
results expected soon.
Figure 1 – Warintza Drilling and Future Targets
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Table 1 – Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq² (%)
SLS-87
Aug 15, 2024
0 114 114 0.23 0.02 0.05 0.38
Including 81 114 33 0.64 0.02 0.06 0.81
SLS-86 54 159 105 0.58 0.04 0.11 0.88
Including 60 117 57 0.77 0.05 0.13 1.11
SLS-85 0 123 123 0.12 0.02 0.04 0.23
Including 102 123 21 0.41 0.01 0.03 0.51
SLS-84 54 156 102 0.38 0.04 0.07 0.64
Including 54 123 69 0.52 0.04 0.10 0.82
SLS-83 15 265 250 0.15 0.00 0.14 0.25
SLS-82 0 249 249 0.17 0.03 0.04 0.38
Including 48 117 69 0.47 0.04 0.12 0.77
SLS-81 0 327 327 0.20 0.02 0.04 0.33
Including 84 249 165 0.35 0.03 0.04 0.54
SLS-80 69 260 191 0.34 0.01 0.04 0.43
SLSE-43 0 295 295 0.13 0.01 0.02 0.18
SLSE-42 0 359 359 0.38 0.02 0.06 0.53
Including 21 321 300 0.42 0.02 0.06 0.57
SLSE-41 0 258 258 0.07 0.00 0.02 0.09
SLSE-40 6 39 33 0.13 0.00 0.02 0.16
SLSE-39 60 318 258 0.19 0.01 0.04 0.26
Including 60 102 42 0.30 0.01 0.04 0.38
SLSE-38 93 152 59 0.19 0.00 0.03 0.23
Including 108 132 24 0.26 0.00 0.05 0.31
SLSE-37 153 258 105 0.12 0.02 0.02 0.23
Including 360 419 59 0.11 0.02 0.01 0.21
Notes to Table 1: True widths are interpreted to be very close to drilled widths due to the bulk-porphyry
style mineralized zones at Warintza.
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Table 2 - Collar Locations
Hole ID Easting Northing Elevation
(m)
Depth
(m)
Azimuth
(degrees)
Dip
(degrees)
SLS-87 800198 9648473 1338 295 315 -60
SLS-86 799685 9648332 1374 251 250 -50
SLS-85 800199 9648475 1336 274 0 -60
SLS-84 799684 9648330 1374 200 270 -69
SLS-83 800621 9648398 1332 265 120 -58
SLS-82 799682 9648329 1373 302 90 -85
SLS-81 800198 9648471 1339 400 65 -52
SLS-80 800200 9648473 1338 260 90 -77
SLSE-43 801615 9648467 1104 296 210 -60
SLSE-42 801528 9647849 1154 360 170 -70
SLSE-41 801612 9648466 1105 259 120 -50
SLSE-40 801616 9648469 1104 141 90 -75
SLSE-39 801385 9648268 1244 318 270 -67
SLSE-38 801615 9648469 1104 152 0 -90
SLSE-37 801388 9648263 1243 419 30 -80
Notes to table: The coordinates are in WGS84 17S Datum.
Endnotes
1. Refer to press release dated July 22, 2024. NI 43-101 Technical Report to be released within 45 days
of the July 22, 2024 news release and available on the Company's website and Sedar+.
2. Copper-equivalence grade calculation for reporting assumes metal prices of US$4.00/lb Cu,
US$20.00/lb Mo, and US$1,850/oz Au, and recoveries of 90% Cu, 85% Mo, and 70% Au based on
preliminary metallurgical testwork. CuEq formula: CuEq (%) = Cu (%) + 5.604 × Mo (%) + 0.623 × Au
(g/t).
Technical Information and Quality Control & Quality Assurance
Sample assay results have been independently monitored through a quality control/quality assurance
(“QA/QC”) program that includes the insertion of blind certified reference materials (standards), blanks
and field duplicate samples. Logging and sampling are completed at a secure Company facility located on
site. Drill core is cut in half on site and samples are securely transported to ALS Labs in Quito. Sample pulps
are sent to ALS Labs in Lima, Peru and Vancouver, Canada for analysis. Total copper and molybdenum
contents are determined by four-acid digestion with AAS finish. Gold is determined by fire assay of a 30-
gram charge. In addition, selected pulp check samples are sent to Bureau Veritas lab in Lima, Peru. Both
ALS Labs and Bureau Veritas lab are independent of Solaris. Solaris is not aware of any drilling, sampling,
recovery or other factors that could materially affect the accuracy or reliability of the data referred to
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herein. The drillhole data has been verified by Jorge Fierro, M.Sc., DIC, PG, using data validation and
quality assurance procedures under high industry standards. Heliborne magnetic, LIDAR and other layers
of data quality for Warintza district exploration were validated by a qualified external professional using
data validation procedures under high industry standards. The data has been verified by Jorge Fierro,
M.Sc., DIC, PG, using data validation and quality assurance procedures under high industry standards.
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by Jorge Fierro,
M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” as defined in National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Jorge Fierro is a Registered Professional
Geologist through the SME (registered member #4279075).
On behalf of the Board of Solaris Resources Inc.
“Daniel Earle”
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: [email protected]
About Solaris Resources Inc.
Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes a world class
copper resource with expansion and discovery potential at its Warintza Project in Ecuador; a series of
grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to
increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary
of Teck Resources in Mexico.
Cautionary Notes and Forward-looking Statements
This document contains certain forward-looking information and forward-looking statements within the meaning of
applicable securities legislation (collectively “forward-looking statements”). The use of the words “will” and
“expected” and similar expressions are intended to identify forward-looking statements. These statements include
statements that ongoing drilling continues to focus on open lateral extensions of mineralization with infill drilling
aimed at upgrading mineral resources and converting waste, the primary open vectors are to the northwest,
southwest and to the southeast of the Mineral Resource Estimate (“MRE”), the Company has constructed a series of
step-out platforms to the northwest to test the potential of this anomaly and the connection to West and Central,
drilling is underway from the first platform, approximately 1.3km northwest of SLS-86, the same approach is being
taken with step-out platforms to the southwest. These represent opportunities for a major expansion of the MRE in
a significantly enlarged pit, extensional drilling in the southeast sector has extended mineralization to the south
where it remains opens for approximately 600m within a large 0.8km x 0.8km undrilled molybdenum soil anomaly
that defines the growth target in this area, additional drilling at Warintza East to the northeast encountered low
grade mineralization in holes SLSE-37 – 43 that serve to convert undefined waste within the MRE pit shell, with further
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
drilling planned in this direction and to the east, complementary district exploration efforts are underway with
geotechnical drilling in the Caya-Mateo target area encountering epithermal clay alteration in the sandstone and
high temperature alteration in the underlying volcanics, this drilling is expected to provide information to aid in more
focused targeting efforts, fieldwork in the emerging Celestina epithermal gold/silver area continues with the next
batch of results expected soon. Although Solaris believes that the expectations reflected in such forward-looking
statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-
looking statements. The Company has based these forward-looking statements and information on the Company’s
current expectations and assumptions about future events including assumptions regarding the exploration and
regional programs. These statements also involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those anticipated in such forward-looking statements,
including the risks, uncertainties and other factors identified in the Solaris Management’s Discussion and Analysis,
for the year ended December 31, 2023 available at www.sedarplus.ca. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news release and Solaris does not undertake any
obligation to publicly update or revise any of these forward-looking statements except as may be required by
applicable securities laws.