Mr. Daniel Earle reports

SOLARIS REPORTS 186M OF 0.64% CUEQ FROM NEAR SURFACE, CONTINUES TO EXPAND 'INDICATIVE STARTER PIT' AT WARINTZA CENTRAL

Solaris Resources Inc. has released 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. Highlights are listed herein, with detailed results in an attached table.

Highlights

Resource expansion drilling continues to grow the northeast extension of the indicative starter pit, an area of near-surface, high-grade mineralization estimated at 180 million tonnes at 0.82 per cent copper equivalent (indicated) and 107 million tonnes at 0.73 per cent CuEq (inferred) within the Warintza mineral resource estimate (MRE), based on drilling to the end of 2021. Assays are pending from follow-up stepout drilling, with additional platforms planned for construction:

• SLS-70 was collared at the northeastern limit of Warintza Central and drilled northeast into an open volume, returning 186 metres of 0.64 per cent CuEq from near surface within a broader interval of 264 m of 0.55 per cent CuEq, expanding the zone to the north, where it remains open.
• This hole follows from SLS-65, drilled approximately 90 degrees to the northwest from the same platform, which returned 286 m of 0.55 per cent CuEq from near surface (refer to press release dated Dec. 5, 2022).
• SLS-69, collared from the same platform and drilled the opposite direction to the southwest, returned 156 m of 0.6 per cent CuEq from 52 m depth within a broader interval of 846 m of 0.3 per cent CuEq, connecting the northeast extension to Warintza Central.
• Prior hole SLS-66, drilled west-southwest, returned 124 m of 0.82 per cent CuEq from near surface within a broader interval of 622 m of 0.42 per cent CuEq (refer to press release dated Sept. 7, 2022) from a platform to the south, where a follow-up, southwest-oriented hole is planned to better connect the northeast extension to Warintza Central.
• Assays are pending from two newly constructed, 250 m stepout platforms testing the zone farther to the northeast, with additional platforms planned for construction as the weather improves.

Jorge Fierro, vice-president, exploration, commented: "The northeast extension represents a significant area of focus for growing the indicative starter pit, one of the two key goals for the follow-on drilling program from the 2022 MRE, with the other being major resource growth at Warintza East, where extensional and stepout holes are due shortly. In addition, a major program of reconnaissance sampling that commenced last summer has identified new areas of well-mineralized outcrop in previously inaccessible terrain adjacent to the Warintza Central and Warintza East deposits that present opportunities for additional discoveries, with further details to be released shortly."

Technical information and quality assurance/quality control

Sample assay results have been independently monitored through a quality control/quality assurance 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 in Quito. Sample pulps are sent to ALS 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 the Bureau Veritas laboratory in Lima, Peru. Both ALS and Bureau Veritas 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 drill hole data have been verified by Jorge Fierro, MSc, 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, MSc, DIC, PG, vice-president of exploration at Solaris, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Fierro is a registered professional geologist through SME (registered member No. 4279075).

About Solaris Resources Inc.

Solaris is a multiasset exploration company, advancing a portfolio of copper and gold assets in the Americas, including: its primary focus, a world-class, large-scale resource with expansion and discovery potential at the Warintza project in Ecuador; discovery potential at its Ricardo project and optioned/owned grassroots Tamarugo project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; and significant leverage to increasing copper prices through its 60-per-cent interest in the La Verde joint venture project with a subsidiary of Teck Resources in Mexico.

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