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Solaris Signs Updated Impact and Benefits Agreement for Warintza Project

VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) ("Solaris" or the "Company") and the Shuar communities of Warints and Yawi are pleased to announce the signing of an updated Impact and Benefits Agreement ("IBA") for the Warintza Project ("Warintza" or "the Project") in southeastern Ecuador to reflect the continued growth and advancement of the Project. The updated IBA reaffirms certainty of community support for the responsible development of the Project.

Figure 1 - Photos

First photo (from left): Mr. Vicente Tsakimp, Lead Coordinator of the Warintza Project Strategic Alliance, Mr. Agustín Kayuk, Leader of the Shuar Warints Center, Mr. Federico Velásquez, President Latin America of Solaris, Mr. Froilan Juank, Leader of the Shuar Yawi Center, Mr. Ricardo Obando, Country Manager of Solaris. Second photo: Director with the communities of the Shuar Warints and Yawi Centers during the signing of the IBA.

Ms. Sonsoles García, Minister of Production, Foreign Trade, Investment and Fisheries, commented, "We value this initiative of Solaris because it strengthens positive community relations and provides for the integration of the local population in productive and sustainable activities. This allows the inclusion of a traditionally displaced population, which is a priority for us. It is also aligned with the priority we have as a National Government of territorial development and good use and management of resources."

Mr. Daniel Earle, President & CEO, commented, "The signing of this updated IBA builds on the foundation of good faith dialogue and trust that led to the formation of a Strategic Alliance partnership with our host communities and original IBA in 2020. This marks a significant milestone in the social advancement of the Warintza Project through our pioneering Participatory Mining model for sustainable resource development."

Mr. Agustin Kayuk, leader of the Shuar Warints Center and member of the Board of Directors of the Strategic Alliance, commented, "The signing of this updated IBA strengthens the working relationship with Solaris and brings greater opportunities for the development of our communities. The decision is supported by a permanent relationship with the Company based on mutual respect and transparent dialogue, as well as a history of positive impacts generated for our people. We look forward to continuing our relationship and playing an integral role in the advancement of the Project."

Mr. Vicente Froilan Juank, leader of the Shuar Yawi Center and also a member of the Board of Directors of the Strategic Alliance, commented, "The updated IBA brings further support and new opportunities for our people. When Warintza advances, our communities advance with it. Since the signing of the inaugural IBA in 2020, and with the help of the Ecuadorian state, the local impacts in job creation, community infrastructure, and development of programs in health, education, skills training, entrepreneurship, and innovation have been evident in our daily lives."

On behalf of the Board of Solaris Resources Inc.

"Daniel Earle"
President & CEO, Director

For Further Information

Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com

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 grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary of 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 the updated IBA reaffirms certainty of community support for the responsible development of the Project. 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. The Company has based these forward-looking statements and information on the Company's current expectations and assumptions about future events including assumptions regarding the future nature of the Company's relationship with the local communities and the parties' compliance with the IBA. 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, 2023 available at www.sedarplus.ca. 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0e41ed9-d874-4bf2-adf1-3edda397c0f1