NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

December 22, 2020 – Vancouver, B.C. – Solaris Resources Inc. (TSXV: SLS) (“Solaris” or the “Company”) is pleased to announce that the Company has increased the size of its previously announced private placement (see press release dated December 14, 2020) to 15.5 million units (“Units”) at a price of C$5.20 per Unit for total gross proceeds of C$80.6 million (the “Private Placement”).

Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one Common Share for a period of two years at an exercise price of C$6.75.

The net proceeds from the Private Placement will be used to fund exploration activities, technical studies, community social relations programs and permitting at the Company’s projects and for general and working capital purposes. The Common Shares and Warrants issued under the Private Placement will be subject to a statutory hold period in Canada of four months and one day following the closing date.

The securities to be offered pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with the requirements of exemptions therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

A finder’s fee commensurate with TSX Venture Exchange policies will be paid where applicable. Closing of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company’s expectations.

On behalf of the Board of Solaris Resources Inc.

“Daniel Earle”
President & CEO, Director