Mr. Daniel Earle reports

SOLARIS REPORTS 57M OF 1.11% CUEQ, 69M OF 0.82% CUEQ AND 69M OF 0.77% CUEQ IN NEAR SURFACE RESULTS; EXTENDS MINERALIZATION NORTH, NORTHWEST AND SOUTHEAST

Solaris Resources Inc. has released the drill results from its continuing 60,000-metre and eight-rig drilling program at its Warintza project in southeastern Ecuador. Highlights are listed in this news release, with detailed results in the attached tables.

Highlights

Additional drilling has extended near-surface, high-grade mineralization to the north, northwest and southeast of the mineral resource estimate (MRE) (1). Drilling is continuing to focus on open lateral extensions of mineralization, with infill drilling aimed at upgrading mineral resources and converting waste. The primary open vectors are to the northwest, to the southwest and to the southeast.

A series of holes from a stepout platform extended mineralization to the northwest, with high grades from near surface. Mineralization in this direction comes into contact with a tabular granodiorite unit that separates and underlies the central deposit from Warintza West and a large, undrilled molybdenum soil anomaly to the northwest.

• SLS-86 (drilled southwest): 57 metres of 1.11 per cent copper equivalent (CuEq) (2) within 105 m of 0.88 per cent (CuEq) (2) from near surface;
• SLS-84 (drilled west): 69 metres of 0.82 per cent (CuEq) (2) within 102 metres of 0.64 per cent (CuEq) (2) from near surface;
• SLS-82 (drilled east): 69 metres of 0.77 per cent (CuEq) (2) within 249 metres of 0.38 per cent CuEq (2) from surface.

The company has constructed a series of stepout platforms to the northwest to test the potential of this anomaly and the connection to west and central. Drilling is under way from the first platform, approximately 1.3 kilometres northwest of SLS-86. The same approach is being taken with stepout platforms to the southwest. These represent opportunities for a major expansion of the MRE in a significantly enlarged pit.

Extensional drilling collared on the northern limit of the MRE has extended mineralization to the north, while infill drilling in hole SLS-83 has converted waste within the pit:

• SLS-87 (drilled northwest): 33 metres of 0.81 per cent CuEq (2) within 114 metres of 0.38 per cent CuEq (2) from surface;
• SLS-81 (drilled northeast): 165 metres of 0.54 per cent CuEq (2) within 327 metres of 0.33 per cent CuEq (2) from surface;
• SLS-80 (drilled east): 191 metres of 0.43 per cent CuEq (2) from near surface.

Extensional drilling in the southeastern sector has extended mineralization to the south where it remains opens for approximately 600 metres within a large 0.8-kilometre-by-0.8-kilometre undrilled molybdenum soil anomaly that defines the growth target in this area, with SLSE-42 returning 300 metres of 0.57 per cent CuEq (2) within 359 metres of 0.53 per cent CuEq (2) from surface.

Additional drilling at Warintza East to the northeast encountered low-grade mineralization in holes SLSE-37 to SLSE-43, which serve to convert undefined waste within the MRE pit shell, with further drilling planned in this direction and to the east.

Complementary district exploration efforts are under way, with geotechnical drilling in the Caya-Mateo target area encountering epithermal clay alteration in the sandstone and high-temperature alteration in the underlying volcanics. This drilling is expected to provide information to aid in more focused targeting efforts. Fieldwork in the emerging Celestina epithermal gold/silver area continues with the next batch of results expected soon.

(1) Refer to the news release dated July 22, 2024. The National Instrument 43-101 technical report will be released within 45 days of the July 22, 2024, news release and available on the company's website and SEDAR+.

(2) CuEq grade calculation for reporting assumes metal prices of $4 (U.S.) per pound (lb) copper (Cu), $20 (U.S.) per lb molybdenum (Mo) and $1,850 (U.S.) per ounce (oz) gold (Au), and recoveries of 90 per cent Cu, 85 per cent Mo and 70 per cent Au based on preliminary metallurgical test work. CuEq formula: CuEq (per cent) equals Cu (per cent) plus 5.604 times Mo (per cent) plus 0.623 times Au (grams per tone (g/t)).

Technical information and quality control and quality assurance

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 secure company facility located on site. 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 (atomic absorption spectroscopy) finish. Gold is determined by fire assay of a 30-gram charge. In addition, selected pulp check samples are sent to a Bureau Veritas lab in Lima, Peru. Both ALS Labs 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. Heliborne magnetic, lidar (light detecting and ranging) and other layers of data quality for Warintza district exploration were validated by a qualified external professional using data validation procedures under high industry standards. The 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 news 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).

About Solaris Resources Inc.

Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes a world-class copper resource with expansion and discovery potential at its Warintza project in Ecuador; a series of grassroots exploration projects with discovery potential in Peru and Chile; 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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