Lowell Announces Services Contract With Wildlife Conservation Society to Develop a Biodiversity Management Strategy at the Warintza Project
April 7, 2022 – Quito, Ecuador – Lowell Mineral Exploration Ecuador S.A. (“Lowell” or the “Company”), a subsidiary of Solaris Resources Inc. (“Solaris”), is pleased to report that the Company has signed a specialized technical services contract with the Wildlife Conservation Society (“WCS”) to design a Biodiversity Management Strategy for the Warintza Project, located in the province of Morona Santiago in southeastern Ecuador. The service contract is part of the Company's sustainability program "Warintza Sustainable 2022" and will provide a key environmental management tool to reduce impacts on biodiversity during initial exploration activities.
Federico Velásquez, Vice President of Operations for Solaris, commented: “Solaris recognizes the vulnerability of biodiversity and the fragility of natural ecosystems. The contract with WCS is an important sign of our commitment to the responsible management of Ecuador's biodiversity in our area of influence. It is also a great opportunity for the mining industry to demonstrate that it can invest in strategies that contribute to generating a positive impact on ecosystems.”
Bianca Dager, Vice Minister of Environment, stated: “For the Ministry, it is very important to pay attention to the good cases, those projects that are going above and beyond current environmental regulations. Currently, we are in the process of reinventing and modifying environmental impact studies and environmental administrative processes that go beyond environmental management and emphasize biodiversity, ecosystem value, soil conservation. Companies that are leading the way and can be considered as a pilot for compliance with this new regulation really draw our attention. We need committed projects, like Warintza, that show that a responsible mining model with a comprehensive perspective is indeed possible.”
The design of the Biodiversity Management Strategy by WCS will include international standards for biodiversity management in the extractive sector, with a special focus on standards developed for the mining sector. WCS work will be carried out over a 10 month period.
Sebastián Valdivieso, Director of WCS Ecuador, expressed, “This is a unique opportunity in Ecuador to start implementing biodiversity management tools that are already a standard practice in other countries, such as Colombia, by applying the mitigation hierarchy and compensation for loss of biodiversity. With this pilot project, we hope that other companies nationwide also commit to the goal of no net loss of biodiversity.”
With the design of the Biodiversity Management Strategy, Lowell demonstrates the Company's commitment to environmental principles 7 and 8 of the United Nations Global Compact ("UN") and Sustainable Development Goal 15 "Life on Land" of the UN 2030 Agenda, by undertaking initiatives to promote environmental responsibility.
For more information:
María Fernanda Poveda
Telephone: +593 99 655 6655
About Lowell Mineral Exploration Ecuador S.A.
Lowell Mineral Exploration Ecuador S.A., an indirect wholly owned subsidiary of Solaris, promotes the development of strategic alliances with key stakeholders in Ecuador to pave the way for sustainable best practices in responsible exploration.
About WCS Ecuador
Wildlife Conservation Society (WCS) is a private international non-profit organization, operating in Ecuador since 2000. WCS saves wildlife and wild places worldwide through science, conservation action, education, and inspiring people to value nature. WCS's conservation strategy is based on identifying critical conservation problems and developing science-based, community-driven solutions that benefit natural landscapes, wildlife, and human populations. WCS Ecuador permanently collaborates with local communities to develop new conservation strategies and actions to improve their livelihoods without threatening the integrity of the natural ecosystem in which they live.
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 at the Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130 million spending /5 years through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and significant leverage to increase copper prices through its 60% interest in the La Verde joint venture project with Teck Resources in Mexico. For more information, visit www.solarisresources.com.
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This document contains certain forward-looking statements. All statements except statements of historical fact are forward-looking statements. The use of the words "may", "expect", "will" and similar expressions are intended to identify forward-looking statements. These statements include statements about our intention, our current beliefs, or expectations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements as the Company cannot guarantee that such expectations will prove to be correct. These statements 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. In addition, the forward-looking statements contained in this document are made as of the date of this document and the Company does not undertake any obligation to publicly update or revise any of these forward-looking statements.