Solaris Extends Warintza Central to South, Southeast and Still Open; Maiden Drilling Results from Warintza South Expected in January

Rhea-AI Summary

Solaris Resources Inc. announced positive assay results from its ongoing drilling at the Warintza Project in Ecuador. The latest findings from five additional holes have expanded the Warintza Central area, continuing to show strong mineralization. Key results include:

• SLS-37: 868m of 0.58% CuEq from 28m depth
• SLS-39: 915m of 0.56% CuEq, including 368m of 0.73% CuEq
• SLS-40: 1,048m of 0.46% CuEq from surface
• SLS-41: 592m of 0.52% CuEq from surface

The project remains open for expansion, with further drilling planned for January.

Positive

• Significant assay results with multiple holes showing high copper equivalent grades.
• Expansion of mineralization confirmed at Warintza Central, indicating further discovery potential.
• Strong support from ongoing drilling programs, with 55 holes completed to date.

Negative

• None.

VANCOUVER, BC, Dec. 14, 2021 /PRNewswire/ - Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) ("Solaris" or the "Company") is pleased to report assay results from a series of additional holes from ongoing mineral resource growth and discovery drilling programs at its Warintza Project ("Warintza" or "the Project") in southeastern Ecuador.

Highlights are listed below, with corresponding images in Figures 1-3 and detailed results in Tables 1-2. A dynamic 3D model is available on the Company's website.

Highlights

• Five additional holes reported in this press release have expanded the dimensions of Warintza Central to the south and southeast where it remains open, with the highest-grade intervals within each hole starting at or near surface (refer to Figures 1 & 2)
  
  
• SLS-37 was collared in the middle of the Warintza Central grid and drilled vertically into a partially open volume near surface, returning 868m of 0.58% CuEq¹ from 28m depth; further drilling from this platform will target northern and southern extensions of the zone
  
  
• SLS-38 was collared at the northeastern limit of the grid and drilled east into an open volume, returning 244m of 0.70% CuEq¹ from 58m depth, within a broader interval of 822m of 0.35% CuEq¹ that included dilution from a weakly-mineralized mafic intrusive
  
  
• SLS-39 was collared on the eastern side of the grid and drilled into a partially open volume to the southeast, returning 915m of 0.56% CuEq¹, including 368m of 0.73% CuEq¹ from 90m depth, with the last 10m of the hole grading 0.61% CuEq¹ suggesting further potential to the southeast
  
  
• SLS-40 was collared at the southeastern limit of the grid and drilled into a partially open volume to the southeast, returning 1,048m of 0.46% CuEq¹ from surface, including 382m of 0.64% CuEq¹ from 50m depth, extending mineralization to the southeast where it remains open
  
  
• SLS-41 was collared in the middle of the Warintza Central grid and drilled into an open volume to the southeast, returning 592m of 0.52% CuEq¹ from surface, including 496m of 0.58% CuEq¹, extending mineralization to the south where it remains open
  
  
• To date, 55 holes have been completed at Warintza Central with assays reported for 41 of these
  
  
• Maiden drilling results are expected in January from Warintza South, a target defined by a high conductivity anomaly measuring 2.5km x 2.0km x 0.7km and overlapping copper and molybdenum anomalies where exposed at surface

Mr. Jorge Fierro, Vice President, Exploration, commented: "These latest results continue to expand the dimensions of Warintza Central to the south and southeast where it remains open. Our next series of holes will target extensions to the north and northeast. In January, we are looking forward to the results of the first-ever drilling at Warintza South, where we are targeting the fourth major discovery within the 7km x 5km cluster of copper porphyries on this property."

Table 1 – Assay Results

Hole ID	Date Reported	From (m)	To (m)	Interval (m)	Cu (%)	Mo (%)	Au (g/t)	CuEq¹ (%)
SLS-41	Dec 14, 2021	0	592	592	0.42	0.02	0.06	0.52
Including		8	504	496	0.48	0.02	0.06	0.58
SLS-40		8	1056	1048	0.39	0.01	0.03	0.46
Including		50	432	382	0.56	0.02	0.04	0.64
SLS-39		28	943	915	0.49	0.01	0.04	0.56
Including		90	458	368	0.65	0.02	0.04	0.73
SLS-38		58	880	822	0.28	0.01	0.05	0.35
Including		58	302	244	0.58	0.02	0.06	0.70
SLS-37		28	896	868	0.39	0.05	0.05	0.58
SLS-36	Nov 15, 2021	2	1082	1080	0.33	0.01	0.04	0.41
SLS-35		48	968	920	0.53	0.02	0.04	0.62
SLS-34	Oct 25, 2021	52	712	660	0.36	0.02	0.06	0.47
SLS-33		40	762	722	0.55	0.03	0.05	0.69
SLSE-02		0	1160	1160	0.20	0.01	0.04	0.25
SLS-32	Oct 12, 2021	0	618	618	0.38	0.02	0.05	0.48
SLS-31		8	1008	1000	0.68	0.02	0.07	0.81
SLS-30		2	374	372	0.57	0.06	0.06	0.82
SLSE-01	Sep 27, 2021	0	1213	1213	0.21	0.01	0.03	0.28
SLS-29	Sep 7, 2021	6	1190	1184	0.58	0.02	0.05	0.68
SLS-28		6	638	632	0.51	0.04	0.06	0.68
SLS-27		22	484	462	0.70	0.04	0.08	0.91
SLS-26	July 7, 2021	2	1002	1000	0.51	0.02	0.04	0.60
SLS-25		62	444	382	0.62	0.03	0.08	0.77
SLS-24		10	962	952	0.53	0.02	0.04	0.62
SLS-19		6	420	414	0.21	0.01	0.06	0.31
SLS-23	May 26, 2021	10	558	548	0.31	0.02	0.06	0.42
SLS-22		86	324	238	0.52	0.03	0.06	0.68
SLS-21		2	1031	1029	0.63	0.02	0.04	0.73
SLS-20	April 19, 2021	18	706	688	0.35	0.04	0.05	0.51
SLS-18		78	875	797	0.62	0.05	0.06	0.83
SLS-17		12	506	494	0.39	0.02	0.06	0.50
SLS-16	Mar 22, 2021	20	978	958	0.63	0.03	0.06	0.77
SLS-15		2	1231	1229	0.48	0.01	0.04	0.56
SLS-14		0	922	922	0.79	0.03	0.08	0.94
SLS-13	Feb 22, 2021	6	468	462	0.80	0.04	0.09	1.00
SLS-12		22	758	736	0.59	0.03	0.07	0.74
SLS-11		6	694	688	0.39	0.04	0.05	0.57
SLS-10		2	602	600	0.83	0.02	0.12	1.00
SLS-09		122	220	98	0.60	0.02	0.04	0.71
SLSW-01	Feb 16, 2021	32	830	798	0.25	0.02	0.02	0.31
SLS-08	Jan 14, 2021	134	588	454	0.51	0.03	0.03	0.62
SLS-07		0	1067	1067	0.49	0.02	0.04	0.60
SLS-06	Nov 23, 2020	8	892	884	0.50	0.03	0.04	0.62
SLS-05		18	936	918	0.43	0.01	0.04	0.50
SLS-04		0	1004	1004	0.59	0.03	0.05	0.71
SLS-03	Sep 28, 2020	4	1014	1010	0.59	0.02	0.10	0.71
SLS-02		0	660	660	0.79	0.03	0.10	0.97
SLS-01	Aug 10, 2020	1	568	567	0.80	0.04	0.10	1.00
Notes to table: True widths cannot be determined at this time.

(1) No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries is not yet available. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as:  CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz.

Table 2 - Collar Location

Hole ID	Easting	Northing	Elevation (m)	Depth (m)	Azimuth (degrees)	Dip (degrees)
SLS-41	799765	9648033	1571	792	115	-70
SLS-40	800124	9648044	1568	1056	105	-75
SLS-39	800253	9648105	1576	943	145	-80
SLS-38	800383	9648303	1412	923	90	-56
SLS-37	799968	9648102	1510	929	0	-90
Notes to table: The coordinates are in WGS84 17S Datum.

(1) No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries is not yet available. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as:  CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz.

Technical Information and Quality Control & 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 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 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. ZTEM data quality was validated by a qualified external professional using data validation procedures under high industry standards, and the Company therefore did not deem it necessary to have such ZTEM data verified by a Qualified Person. Analytical data for the surface samples collected are from recent interpretations derived from ZTEM data and from previous operators as detailed in the technical report entitled, "Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit" prepared by Equity Exploration Consultants Inc. with an effective date of December 13, 2019, and available on the Company's SEDAR profile and website. The drillhole data has been verified by Jorge Fierro, M.Sc., 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, M.Sc., 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.  Jorge Fierro is a Registered Professional Geologist through the SME (registered member #4279075).

On behalf of the Board of Solaris Resources Inc.

"Daniel Earle"
President & CEO, Director

About Solaris Resources Inc.

Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes: a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130M spending / 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and significant leverage to increasing copper prices through its 60%-interest in the La Verde joint-venture project with Teck Resources in Mexico.

Cautionary Notes and Forward-looking Statements

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will" and "expected" and similar expressions are intended to identify forward-looking statements. These statements include statements that follow-up from the SLS-37 platform will target northern and southern extension drilling of the zone, the last 10m of SLS-39 grading 0.61% CuEq¹ suggests further potential to the southeast, that maiden drilling results are expected in January from Warintza South, a target defined by a high conductivity anomaly measuring 2.5km x 2.0km x 0.7km and overlapping copper and molybdenum anomalies where exposed at surface, that the next series of holes will target extensions to the north and northeast, and that in January 2022, results of the first-ever drilling at Warintza South are expected to be released, targeting the fourth major discovery within the 7km x 5km cluster of copper porphyries on this property.  Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. These statements are based on a variety of assumptions including assumptions made about the Company's ability to advance exploration efforts at the Warintza Project; the results of such exploration efforts; and the Company's ability to achieve its growth objectives. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Solaris Management's Discussion and Analysis for the year ended December 31, 2020 available at www.sedar.com. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.

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SOURCE Solaris Resources Inc.

FAQ

What are the latest assay results for Solaris Resources Inc. (SLSSF) from the Warintza Project?

The latest assay results show significant grades including 868m of 0.58% CuEq in SLS-37 and 915m of 0.56% CuEq in SLS-39.

How many holes have been drilled at the Warintza Project by Solaris Resources (SLSSF)?

A total of 55 holes have been drilled at the Warintza Project, with assays reported for 41 of these.

When can we expect maiden drilling results from Warintza South by Solaris Resources Inc. (SLSSF)?

Maiden drilling results from Warintza South are expected in January.

What is the significance of the drilling results reported by Solaris Resources Inc. on December 14, 2021?

The results indicate the potential for significant resource growth at Warintza, with mineralization remaining open in several directions.