Solaris Reports 600m of 1.0% CuEq and 462m of 1.0% CuEq From Surface, Continued Expansion of Warintza Central
(1) No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of
recoveries is not yet available. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as: CuEq
(%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz.
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Solaris Reports 600m of 1.0% CuEq and 462m of 1.0% CuEq From Surface,
Continued Expansion of Warintza Central
February 22, 2021 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) ("Solaris" or the
"Company") is pleased to report assay results from a series of additional holes from the ongoing diamond
drilling program at its Warintza Project (“Warintza” or “the Project”) in south-eastern Ecuador.
Highlights from recent drilling are listed below and results are summarized in Tables 1 and 2. An updated
3D model will be posted on the Company’s website when available.
Highlights
Four additional holes, as detailed below, have returned long intervals of high-grade mineralization
starting from surface, extending the limits of mineralization to the west and northwest
SLS-10 was an extensional hole collared at the western limit of drilling and drilled to the west,
returning 600m of 1.00% CuEq¹ (0.83% Cu, 0.02% Mo, and 0.12 g/t Au), including 546m of 1.06%
CuEq¹ (0.88% Cu, 0.03% Mo, and 0.12 g/t Au) from surface, significantly extending mineralization
in this direction
The high-grade interval of 600m of 1.00% CuEq¹ reported in SLS-10 corresponds to a high
conductivity anomaly reflecting sulphide stockwork mineralization that continues to the west for
a further 1.5km at or near surface and is being targeted in follow-up extensional drilling that is
now underway
SLS-11 was an extensional hole collared in the southeastern portion of the current Warintza
Central drill pattern and drilled to the northwest into an open area, returning 688m of 0.57%
CuEq¹ (0.39% Cu, 0.04% Mo, and 0.05 g/t Au) from surface
SLS-12 returned 736m of 0.74% CuEq¹ (0.59% Cu, 0.03% Mo, and 0.07 g/t Au) from near surface,
extending mineralization into an undrilled, open area between the eastern and western drilling
at Warintza Central
SLS-13 stepped out approximately 100m beyond the western limit of Warintza Central drilling and
was drilled north into an open area, returning 462m of 1.00% CuEq¹ (0.80% Cu, 0.04% Mo, and
0.09 g/t Au) from surface, with the hole ending prematurely in strong mineralization
To date, 17,400 metres have been drilled at Warintza Central in 21 holes of which results have
been reported for 13; drilling is ongoing with six rigs currently operating and six more being
added by mid-year, which will lead to a commensurate increase in the pace of results being
reported
(1) No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of
recoveries is not yet available. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as: CuEq
(%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz.
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Mr. Jorge Fierro, Vice President, Exploration, commented: “Our drilling continues to demonstrate
significant extensions of mineralization at Warintza Central with the latest results extending high-grade
mineralization to the west, a direction in which the high-conductivity anomaly that correlates to high
grade mineralization at Warintza Central continues for a further 1.5 km at or near surface and is being
targeted in ongoing and planned drilling.”
Table 1 – Warintza Central Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-13
Feb 22, 2021
6 468 462 0.80 0.04 0.09 1.00
SLS-12 22 758 736 0.59 0.03 0.07 0.74
SLS-11 6 694 688 0.39 0.04 0.05 0.57
SLS-10 2 602 600 0.83 0.02 0.12 1.00
Including 56 602 546 0.88 0.03 0.12 1.06
SLS-09 122 220 98 0.60 0.02 0.04 0.71
Including 122 168 46 0.96 0.03 0.05 1.09
SLS-08
Jan 14, 2021
134 588 454 0.51 0.03 0.03 0.62
SLS-07 0 1067 1067 0.49 0.02 0.04 0.60
SLS-06
Nov 23, 2020
8 892 884 0.50 0.03 0.04 0.62
SLS-05 18 936 918 0.43 0.01 0.04 0.50
SLS-04 0 1004 1004 0.59 0.03 0.05 0.71
SLS-03
Sep 28, 2020
4 1014 1010 0.59 0.02 0.10 0.71
SLS-02 0 660 660 0.79 0.03 0.10 0.97
SLS-01 Aug 10, 2020 1 568 567 0.80 0.04 0.10 1.00
Notes to table: Grades are uncut and true widths have not been determined.
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Table 2 – Collar Locations for New Drill Holes
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-13 799667 9648029 1499 468 0 -80
SLS-12 800124 9648035 1568 782 265 -62
SLS-11 800191 9648059 1570 860 280 -65
SLS-10 799765 9648033 1571 690 293 -77
SLS-09 800266 9648209 1493 500 0 -89
Notes to table: The coordinates are in WGS84 17S Datum.
Image 1 – Plan View
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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 secured Company facility located in
Quito, Ecuador. 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. ALS Labs is independent from Solaris. In addition, selected pulp check samples
are sent to Bureau Veritas lab in Lima, Peru. 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 herein.
Qualified Person
The scientific and technical content of this press release and the sampling, analytical and test data
underlying the scientific and technical content has been compiled, reviewed, approved, and verified 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. The data was verified using data
validation and quality assurance procedures under high industry standards. ZTEM data quality was
validated by a qualified external professional.
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 high-grade
resource with expansion and additional discovery potential at the Warintza copper and gold project in
Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco
projects in Peru; exposure to US$130M spending / 5-yrs through a farm-out agreement with Freeport-
McMoRan on the Ricardo Project in Chile; and significant leverage to increasing copper prices through the
60%-interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.
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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 word “will” and “planned”
and similar expressions are intended to identify forward-looking statements. These statements include statements
regarding our intent, or the beliefs or current expectations of our officers and directors, including statements made
with respect to future drilling plans, that an updated 3D model will appear on the Company’s website when available,
that six more drill rigs will be added by mid-year; and that the addition of these drill rigs will lead to commensurate
increase in the pace of results being reported. Although Solaris believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-
looking statements since Solaris can give no assurance that such expectations will prove to be correct. These
statements are based on a variety of assumptions including assumptions made about the Company’s ability to
advance exploration efforts at the Warintza Project; the results of such exploration efforts; and the Company’s ability
to advance its projects and achieve its growth objectives. 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 latest Solaris
Management’s Discussion and Analysis and Annual Information Form available at www.sedar.com. 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.