April 11, 2022 – 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 mineral resource growth drilling at its Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador.

Highlights are listed below, with detailed results in Tables 1-2.

Key Takeaways

Since the discovery of Warintza East in mid-2021, approximately 1km east of Warintza Central, limited drilling has been completed on the open area between the two deposits that would fall into the eastern sector of the conceptual pit design for Warintza Central as uncategorized waste – these results now establish continuity of mineralization between the two deposits with Warintza East remaining entirely open and undrilled to the north, south and east for future potential growth

SLSE-06 was collared from the original platform in the middle of Warintza East and drilled west-northwest into an entirely open volume, returning 484m of 0.42% CuEq¹ from surface

SLSE-08 was collared from the same platform and drilled northwest into an open volume, returning 142m of 0.65% CuEq¹ from near surface within a broader interval of 536m of 0.43% CuEq¹ from surface

SLSE-04 was collared between Warintza Central and Warintza East and drilled west-southwest into a partially open volume, returning 616m of 0.63% CuEq¹ from 276m depth within a broader interval of 892m of 0.50% CuEq¹ from surface, establishing the overlap of the two deposits within the Warintza Central pit shell

SLSE-03 was collared from the same platform and drilled west-northwest into a partially open volume, returning 326m of 0.62% CuEq¹ from 276m depth within a broader interval of 818m of 0.38% CuEq¹ from 38m depth, further confirming the overlap of the two deposits

SLSE-05, collared from the same platform, was drilled north-northwest into a partially open area, returning 268m of 0.53% CuEq¹ from 446m depth within a broader interval of 714m of 0.32% CuEq¹ from surface

Updated Warintza Central Mineral Resource Estimate expected to be issued in April

To date, 62 holes have been completed at Warintza Central with assays reported for 54 of these and 8 holes have been completed at Warintza East with results reported for all holes

Mr. Jorge Fierro, Vice President, Exploration, commented: “Following the final Warintza Central results released April 4, these results represent the final holes from Warintza East to be included in the forthcoming mineral resource update, and serve to convert what would otherwise be uncategorized waste within the expected pit shell in the area where Warintza Central and Warintza East overlap.”

Table 1 – Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLSE-08 Apr 11, 2022 8 544 536 0.35 0.02 0.04 0.43
Including 18 160 142 0.56 0.01 0.06 0.65
SLSE-07 632 1069 437 0.29 0.02 0.04 0.37
SLSE-06 0 484 484 0.33 0.02 0.04 0.42
SLSE-05 0 714 714 0.26 0.01 0.05 0.32
Including 446 714 268 0.42 0.02 0.08 0.53
SLSE-04 0 892 892 0.43 0.01 0.04 0.50
Including 276 892 616 0.54 0.02 0.04 0.63
SLSE-03 38 856 818 0.29 0.02 0.03 0.38
Including 276 602 326 0.48 0.03 0.05 0.62
SLS-54 Apr 4, 2022 0 1093 1093 0.45 0.02 0.04 0.56
Including 50 406 356 0.62 0.02 0.05 0.73
SLS-53 10 967 957 0.39 0.01 0.03 0.46
Including 16 192 176 0.65 0.03 0.04 0.78
SLS-52 42 1019 977 0.39 0.01 0.03 0.45
Including 96 578 482 0.55 0.01 0.03 0.62
SLS-51 36 1048 1012 0.38 0.01 0.06 0.47
Including 130 1048 918 0.41 0.01 0.05 0.50
SLS-50 336 458 122 0.14 0.04 0.03 0.30
SLS-49 Feb 28, 2022 50 867 817 0.50 0.02 0.04 0.60
SLS-48 50 902 852 0.45 0.02 0.05 0.56
SLS-47 48 859 811 0.41 0.02 0.05 0.51
SLS-46 48 680 632 0.27 0.01 0.03 0.31
SLS-45 44 608 564 0.37 0.01 0.03 0.41
SLS-44 6 524 518 0.16 0.05 0.03 0.35
SLS-43 138 350 212 0.17 0.03 0.03 0.30
SLS-42 52 958 906 0.42 0.02 0.06 0.53
SLSS-01 Jan 18, 2022 0 755 755 0.28 0.02 0.02 0.36
SLS-41 Dec 14, 2021 0 592 592 0.42 0.02 0.06 0.52
SLS-40 8 1056 1048 0.39 0.01 0.03 0.46
SLS-39 28 943 915 0.49 0.01 0.04 0.56
SLS-38 58 880 822 0.28 0.01 0.05 0.35
SLS-37 28 896 868 0.39 0.05 0.05 0.58
SLS-36 Nov 15, 2021 2 1082 1080 0.33 0.01 0.04 0.41
SLS-35 48 968 920 0.53 0.02 0.04 0.62
SLS-34 Oct 25, 2021 52 712 660 0.36 0.02 0.06 0.47
SLS-33 40 762 722 0.55 0.03 0.05 0.69
SLSE-02 0 1160 1160 0.20 0.01 0.04 0.25
SLS-32 Oct 12, 2021 0 618 618 0.38 0.02 0.05 0.48
SLS-31 8 1008 1000 0.68 0.02 0.07 0.81
SLS-30 2 374 372 0.57 0.06 0.06 0.82
SLSE-01 Sep 27, 2021 0 1213 1213 0.21 0.01 0.03 0.28
SLS-29 Sep 7, 2021 6 1190 1184 0.58 0.02 0.05 0.68
SLS-28 6 638 632 0.51 0.04 0.06 0.68
SLS-27 22 484 462 0.70 0.04 0.08 0.91
SLS-26 July 7, 2021 2 1002 1000 0.51 0.02 0.04 0.60
SLS-25 62 444 382 0.62 0.03 0.08 0.77
SLS-24 10 962 952 0.53 0.02 0.04 0.62
SLS-19 6 420 414 0.21 0.01 0.06 0.31
SLS-23 May 26, 2021 10 558 548 0.31 0.02 0.06 0.42
SLS-22 86 324 238 0.52 0.03 0.06 0.68
SLS-21 2 1031 1029 0.63 0.02 0.04 0.73
SLS-20 April 19, 2021 18 706 688 0.35 0.04 0.05 0.51
SLS-18 78 875 797 0.62 0.05 0.06 0.83
SLS-17 12 506 494 0.39 0.02 0.06 0.50
SLS-16 Mar 22, 2021 20 978 958 0.63 0.03 0.06 0.77
SLS-15 2 1231 1229 0.48 0.01 0.04 0.56
SLS-14 0 922 922 0.79 0.03 0.08 0.94
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
SLS-09 122 220 98 0.60 0.02 0.04 0.71
SLSW-01 Feb 16, 2021 32 830 798 0.25 0.02 0.02 0.31
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

(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.

Notes to table: True widths cannot be determined at this time.

Table 2 - Collar Location
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLSE-08 801485 9648192 1170 959 305 -70
SLSE-07 800749 9648146 1282 1069 84 -50
SLSE-06 801485 9648192 1170 1078 285 -55
SLSE-05 800749 9648146 1282 737 330 -65
SLSE-04 800749 9648146 1282 893 257 -45
SLSE-03 800749 9648146 1282 909 270 -45

Notes to table: The coordinates are in WGS84 17S Datum.

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. 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 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.

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
Email: jwagenaar@solarisresources.com