Mr. Daniel Earle reports

SOLARIS PROVIDES 2024 PREVIEW INCLUDING PLANNED NYSE AMERICAN LISTING AND UPDATED WARINTZA MINERAL RESOURCE ESTIMATE IN Q2/24

Solaris Resources Inc. has provided a preview of its 2024 plans for the company and its Warintza project in southeastern Ecuador.

Key milestones

NYSE American listing

The company intends to list on the NYSE American stock exchange to satisfy the appetite of many U.S. retail and institutional investors seeking to add exposure to Solaris. In advance of listing on the NYSE American, Solaris will file a Form 40-F registration statement with the U.S. Securities and Exchange Commission. Subject to the review and approval of the listing application and satisfaction of all applicable listing and regulatory requirements, the company expects its common shares to commence trading on the NYSE American in the first half of 24.

Mineral resource update in Q2 2024

The company is nearing the completion of its second phase of mineral resource drilling at Warintza, which is expected to nearly double the metreage available for inclusion in the updated mineral resource estimate and deliver major growth through expansion of the deposit in extensional drilling at Warintza Central and Warintza East and through the inclusion of the recent discovery of Warintza Southeast within a common pit shell.

Extension and infill drilling

The third phase of drilling at Warintza is set to commence imminently and includes extensional drilling in areas in which the Warintza East and Warintza Southeast deposits are still open, and approximately 30 kilometres of infill drilling to further delineate and define mineral resources within the pit shell in advance of studies, with some of these holes doubling to provide technical data for mine design and mine planning purposes.

Warintza exploration

Plans include following up on the recent Patrimonio discovery, where the first reconnaissance holes intercepted 144 metres of 0.50 per cent copper equivalent and 148 metres of 0.52 per cent copper equivalent, respectively (refer to press release dated Sept. 12, 2023). Notably, these intercepts included skarn mineralization (in addition to porphyry) for which the source has not yet been located. Vectors for this mineralization trend northwest and are untested for over one kilometre toward Warintza West while the strongest soil geochemical anomalism is untested in the southern part of Patrimonio.

In addition, the company plans to revisit the El Trinche area, which forms the southern, low-grade margin of Warintza Central, where a near-surface intercept of high-grade mineralization within a broader low-grade interval has been interpreted as a dike with veinlet orientations and alteration, suggesting it may form a high-level expression of a potentially deeper, higher-grade system that has not yet been located.

Regional exploration

Field investigation is planned to define drill targets at prospective areas identified in the regional exploration program to date, including:

• Medio Camino -- a 3.5-kilometre-by-1.5-kilometre porphyry target defined in soil geochemical data roughly equidistant between the Warintza porphyry cluster to the east and the neighbouring San Carlos/Panantza porphyry cluster to the west;
• Clemente -- a series of porphyry targets on trend to the north of the San Carlos/Panantza porphyry cluster;
• Mateo -- a three-kilometre-by-1.4-kilometre area of copper-molybdenum enrichment in soil samples approximately five kilometres east of Warintza East that is expressed around the perimeter of an overlapping sandstone unit that may cover a porphyry;
• Caya -- a five-kilometre-by-three-kilometre gold anomaly in stream sediments six kilometres northeast of Warintza East, where follow-up sampling has identified an area of 0.7 kilometre by 1.3 kilometres of anomalous gold, copper and epithermal pathfinder element values, and a concentration of dickite clay and vuggy silica alteration minerals characteristic of high-sulphidation epithermal systems.

Studies

The company anticipates finalizing and submitting the environmental impact assessment for the Warintza project for regulatory review and approval in the second half of 2024, after more than three years of baseline environmental monitoring, data collection and studies from prior permitting efforts. Follow-up programs for metallurgy, geotechnical and hydrogeological drilling, together with detailed access, internal/external infrastructure, and water and power studies, will proceed under the direction of Javier Toro, who was recently appointed as chief operating officer (refer to press release dated Nov. 6, 2023), and run through the end of the year.

Technical information and quality control and quality assurance

Sample assay results have been independently monitored through a quality assurance/quality control 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 Bureau Veritas 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. 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 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 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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