Mr. Daniel Earle reports

SOLARIS REPORTS SIGNIFICANT NEW PORPHYRY DISCOVERY IN FIRST HOLE AT PATRIMONIO, SECOND AND THIRD HOLES UNDERWAY AND ADDITIONAL RIGS BEING MOBILIZED

Solaris Resources Inc. has discovered a significant new porphyry deposit in the first reconnaissance drill hole at the Patrimonio target, southwest of Warintza Central. Patrimonio represents the sixth porphyry deposit discovered on the Warintza project in southeastern Ecuador. Highlights are listed as follows.

Highlights

The Patrimonio target was identified as part of a program of reconnaissance mapping and sampling in an area southwest of Warintza Central (see press release dated April 11, 2023). The first reconnaissance drill hole into this target has now been completed with visual results from SLSP-01 confirming the discovery of a significant new porphyry deposit, mineralized with high concentrations of chalcopyrite, molybdenite and pyrite from surface to the end of the hole:

• Patrimonio represents the sixth major discovery within the Warintza porphyry cluster, after the original Warintza Central deposit discovered by the late David Lowell in 2000 and Solaris's discoveries at Warintza West (February, 2021), Warintza East (July, 2021), Warintza South (January, 2022), most recently Warintza Southeast (May, 2023) and now Patrimonio.
• Patrimonio is defined by an elongated north-south molybdenum anomaly measuring 1.5 kilometres by 0.5 kilometre enveloped by a copper anomaly extending west, with outcropping porphyry displaying pervasive potassic alteration and stockwork veining, located on the western side of an interpreted major north-south fault adjacent to Warintza Central.
• SLSP-01 is the first reconnaissance hole to test the Patrimonio target and was drilled northwest to the maximum depth capacity of the KD-200 rig. The hole intersected stockwork veining and disseminated sulphide mineralization in intrusive and volcanic rocks from surface to the end of hole at 310 metres, where the zone remains open.
• Sulphide minerals at Patrimonio include pyrite, chalcopyrite and molybdenite with total sulphide abundances up to 10 per cent, as much as two times higher than previously logged at Warintza Central.
• First assays from SLSP-01 are expected within four to six weeks. Follow-up drill holes SLSP-02, drilled southwest from the same platform, and SLSP-03, a northeast stepout testing the potential contact area between Patrimonio and Warintza Central, are already under way.
• Preliminary interpretation places SLSP-01 in the high-temperature core of a sulphide-rich copper porphyry at Patrimonio, with follow-up drilling under way expected to aid in defining the architecture of the system and its relationship to Warintza Central.
• The reader should be cautioned that only assay results from a laboratory can confirm whether concentrations of metals are present and, as such, visual core characterization presented herein should be viewed as speculative in nature.

Jorge Fierro, vice-president, exploration, commented: "Patrimonio is an exciting, new discovery, unique in terms of the intensity of mineralization and alteration within the Warintza porphyry cluster. Together with the recent discovery of a second and higher-grade porphyry centre to the south of Warintza East we now distinguish as Warintza Southeast, the Patrimonio discovery provides strong validation of our exploration approach of systematic soil sampling led by senior geologist, Keller Guerra, that has also identified areas of significantly stronger soil anomalism in the Warintza West and Warintza South areas for future exploration."

Technical information and quality assurance/quality control

Sample assay results have been independently monitored through a 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's lab in Lima, Peru. Both ALS Labs and Bureau Veritas's 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. Details on the surface sampling conducted at the project are set out in the technical report titled "NI 43-101 Technical Report for the Warintza Project, Ecuador," with an effective date of April 1, 2022, prepared by Mario E. Rossi and available on the company's SEDAR profile and website. 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, exploration, of Solaris, who is a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Fierro is a registered professional geologist through the Society for Mining, Metallurgy and Exploration (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, which includes 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 its 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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