October 31, 2022 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to announce that the Company has received exercises of common share purchase warrants (“warrants”) totaling C$18.7 million since the Company’s last quarterly results dated August 9, 2022.

Notably, the Company’s Executive Chairman, Mr. Richard Warke, exercised 2.3 million warrants at a price of C$6.75, representing a 37% premium to close of trading on Friday, October 28, 2022, for proceeds of C$15.5 million. Additionally, Mr. Warke exercised 0.6 million warrants at a price of C$1.20 for proceeds of C$0.7 million.

A further 3.1 million warrants at a price of C$1.20 and 0.2 million warrants at a price of C$6.75 remain outstanding and expire by the end of 2022, and if exercised in full, would generate additional proceeds of C$4.9 million. Of these, approximately 50% of the remaining outstanding warrants are held by insiders.

By May 2023, a further 25 million warrants expire at a price of C$1.20, and if exercised in full, would generate additional proceeds of C$30.0 million. Of these, approximately 98% are held by insiders.

On behalf of the Board of Solaris Resources Inc.

“Daniel Earle”
President & CEO, Director