Mr. Matthew Rowlinson reports

SOLARIS SIGNS LETTER OF INTENT WITH INFLUENTIAL INDIGENOUS ORGANIZATION IN MORONA SANTIAGO, ECUADOR

Solaris Resources Inc. has formed an interinstitutional working group together with the Pueblo Shuar Arutam organization (PSHA), the company's host communities of Warints and Yawi, and the Ecuadorean State. As part of this, the PSHA and its governing council approved the signing of a LOI (letter of intent). As an influential indigenous organization operating in Morona Santiago outside of the company's direct area of influence, this important step forward highlights the fundamental progress the company has made through embracing an open dialogue and partnership rooted in trust, understanding and mutual respect, encompassed within the Warintza participatory mining model.

On Jan. 18, 2025, at the Yawi Shuar centre, the PSHA resolved to form the working group and on Feb. 5, 2025, ratified this process by the signing of the LOI with Solaris. This further builds on the support the company enjoys from its host Shuar centres of Warints and Yawi with which the company shares an impacts and benefits agreement (IBA), first signed in September, 2020, updated in March, 2022, and then again in April, 2024, as well as a trilateral co-operation agreement with the Interprovincial Federation of Shuar Centres (FICSH), the highest authority and largest Shuar indigenous organization in Ecuador and with the Alliance for Entrepreneurship and Innovation of Ecuador (AEI) of Ecuador.

Further, the company is pleased to announce the conclusion of its infill drilling program, encompassing over 75,000 metres in 2024 and a further 5,000 metres in early 2025, which will form the basis for the updated MRE (mineral resource estimate), expected mid-2025. The primary focus of the program was to convert inferred mineral resources to measured and indicated and to expand the remaining uncategorized areas within the pit shell that will support the PFS (prefeasibility study) expected in Q3 2025.

Matthew Rowlinson, president and chief executive officer, commented: "At Solaris Resources, we believe that sustainable mining is not just an economic endeavour; it is a journey that must include the insights and values of every stakeholder involved, especially our indigenous populations. Their lived experiences and deep connection to the land are vital to shaping responsible mining practices that respect both our natural environment and cultural heritage. As we move forward, its vital we embrace an open dialogue and partnership rooted in trust, understanding and mutual respect. Together, we continue to create a model for mining that not only drives economic growth but also uplifts our communities and preserves the rich tapestry of the Ecuadorean culture.

"Thanks to the Pueblo Shuar Arutam organization and all other stakeholders for their trust and support as we look to sustainably deliver this Tier 1 asset. This project is for Ecuador, by Ecuador, and for the benefit of all stakeholders today and the generations to come."

About the Pueblo Shuar Arutam organization, the interinstitutional working group and wider community support

The Pueblo Shuar Arutam organization, located in the southeast of the province of Morona Santiago, is made up of nearly 10,000 people organized into 47 Shuar centres. The objective of the interinstitutional working group and its subsequent ratification through the signing of the LOI is to develop transparent dialogue processes and workshops in order to promote the signing of a future co-operation agreement, under the consent of the communities.

As discussed above, the Warintza project enjoys the support of its local Shuar centres of Warints and Yawi with which the company shares an IBA, first signed in September, 2020, renewed in March, 2022, and again renewed in April, 2024. The IBA provides certainty of community support for the responsible advancement of the Warintza project from exploration and development through to production and is a major milestone in the company's innovative corporate social responsibility (CSR) program. This was the first IBA established in Ecuador and set the precedent for industry best practice for inclusive and mutually beneficial resource development in partnership with indigenous peoples. The IBA formalizes commitments toward supporting partner communities in their social and cultural practices. It also provides for eliminating or mitigating adverse impacts, employment, contracting and business opportunities supported by a robust program of education, skills and training, together with community infrastructure development and financial benefits, to maximize community participation and positive outcomes for indigenous peoples. In March, 2024, Solaris announced a trilateral co-operation agreement with FICSH, the highest authority and largest Shuar indigenous organization legally established by statute of the Ministry of Social Welfare of Ecuador in 1964 and includes 50 associations comprising 500 Shuar communities and approximately 143,000 Shuar indigenous people, and with the AEI of Ecuador. The agreement aims to promote the economic and social development of Shuar communities represented by FICSH, including PSHA and the communities of Warints and Yawi, with programs in health, education, skills training, entrepreneurship, innovation and sustainable mineral resource development.

About Solaris Resources Inc.

Solaris is a copper-gold exploration and development company, committed to a sustainable future by empowering communities and stakeholders through its dedication to participatory and responsible mining. The Warintza project, a large copper-gold porphyry deposit, with a disclosed resource endowment of over 2.3 billion tonnes is a unique, global scale and multigenerational asset with low capital intensity located in southeastern Ecuador. The company also owns a series of grassroots exploration projects with discovery potential in Peru and Chile and a 60-per-cent interest in the La Verde joint venture project with a subsidiary of Teck Resources in Mexico.

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