Solaris Resources Inc T.SLS

TD

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Maintain their $20.00 target. GLTA

Solaris Resources Inc.

(SLS-T) C$7.55

Continues to Expand ‘Indicative Starter Pit’ at Central Event

This morning, Solaris reported assay results from a series of holes aimed at growing the Northeast Extension of the ‘Indicative Starter Pit’ at its Warintza Project in southeastern Ecuador.

Impact: SLIGHTLY POSITIVE

• Resource expansion drilling continues to build on the Northeast Extension of the ‘Indicative Starter Pit’ which was estimated at 180 Mt at 0.82% CuEq (Indicated) and 107 Mt at 0.73% CuEq (Inferred) within the Warintza Resource Estimate (~1.5 Bt at 0.52% CuEq) based on drilling to the end of 2021.

• SLS-67 was collared at the north-central limit of Warintza Central and drilled southwest, returning 108m of 1.20% CuEq within a broader interval of 604m of 0.51% CuEq from near surface.

• This hole expands on the area of high-grade near surface mineralization in combination with SLS-48 which was collared from the same platform but drilled south, returning 100m of 1.64% CuEq within a broader interval of 852m of 0.56% CuEq from near surface.

• SLS-68 was collared from the same platform as SLS-67 and drilled steeply to the northwest, returning 72m of 1.00% CuEq within a broader interval of 616m of 0.44% CuEq from near surface, expanding this area of higher-grade mineralization from near surface.

• SLS-65 was collared from a recently constructed 250m step-out platform at the northeast limit of the Warintza Central grid and drilled northwest, returning 286m of 0.55% CuEq from near surface.

• Management reported that the Northeast Extension remains open to the north with assays pending from recently completed holes. Further extensional drilling is planned with a 200m step-out platform on the northeastern margin of the drill grid aimed at expanding the zone in this direction.

• The next set of results are expected to be from the remaining holes drilled from the discovery platform at Warintza West (see Flash Note) outlining a mineralized porphyry with minimum dimensions of 900m x 600m, and the next series of holes targeting the expansion of Warintza East.

• Solaris last reported cash of $22mm (November 8) and no debt. Additional funds could come from warrants expiring in May 2023 (C$30mm at C$1.20/sh).