Ms. Jacqueline Wagenaar reports

SOLARIS REPORTS 11,570 G/T SILVER AND 12.3 G/T GOLD IN FIRST ASSAYS FROM SAMPLING EPITHERMAL MINERALIZATION DISCOVERED AS PART OF WARINTZA REGIONAL EXPLORATION PROGRAM

Solaris Resources Inc. has released the first significant precious metals assays from continuing regional exploration that has expanded the footprint of epithermal-style mineral alteration from the Caya area into the adjacent Mateo target and now several kilometres farther south. Reconnaissance rock-chip sampling in this new southern area returned values of up to 11,570 grams per tonne silver (g/t Ag) and 12.3 grams per tonne gold (g/t Au) across 30 centimetres of breccia outcrop discovered as part of this program. Follow-up field work is under way to refine targets for exploration drilling in late Q3 2024 or early Q4 2024.

Highlights

• Continuing regional exploration east of the Warintza cluster has expanded the area of interest for epithermal mineralization from the Caya-Mateo area several kilometres to the south.
• Epithermal deposits can be genetically related to porphyry systems and host rich concentrations of gold and silver, with this association well documented in southeastern Ecuado.
• The newly sampled southern area is affected by minor fault splays off a major regional fault thought to be of Jurassic age, with kilometre-scale displacement across it.
• This fault separates intrusive-dominated geology to the west hosting the Warintza porphyry cluster from primarily volcanic-sedimentary geology to the east hosting epithermal mineralization.
• The footwall (western side) of this fault forms the margin of an adjacent north-south pull-apart basin filled with volcanic-sedimentary sequences.
• Initial reconnaissance rock-chip sampling in this area has returned values of up to 11,570 g/t Ag and 12.3 g/t Au across 30 cm of breccia outcrop with exceptionally high concentrations of epithermal pathfinder elements.
• In addition to that noted herein, sporadic high gold values of between four g/t and nine g/t, with silver values up to 150 g/t, in rock chip sampling have also been returned, with anomalous pathfinder values consistently occurring over an area one kilometre by two kilometres.
• The working exploration concept is that these samples represent high-level expressions of an intermediate sulphidation epithermal system at depth.
• Detailed mapping and sampling of this area has commenced, with vectors from geochemical data and mineral alteration to be used to refine targets.
• Separately, recent sampling and spectral mapping in the Caya-Mateo target area have outlined pathfinder element and alteration anomalies at the margins of overlying sandstones.
• Mateo requires follow-up programs to extend coverage southeast over this large target area and establish metal and alteration zonation to define its core.
• A series of geotechnical holes previously planned in Caya-Mateo to support prefeasibility technical studies near the epithermal target area, are expected to commence in July and are expected to provide valuable exploration data.
• Initial exploration drilling at Caya, Mateo and the new southern area will be planned on the basis of the continuing exploration work and scheduled for late Q3 2024 -- early Q4 2024.

Technical information and quality control and quality assurance

Sample assay, soil and rock sample assay results have been independently monitored through a quality control/quality assurance (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 on site. Sample pulps are sent to ALS Labs in Lima, Peru, and Vancouver, Canada, for analysis. Total copper and silver 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 lab in Lima, Peru. Both ALS Labs and Bureau Veritas 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. The technical data has 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 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). On behalf of the board of Solaris Resources.

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