Local News

Lowell Mineral Participates in the First Meeting to Share Progress on Artisanal Mining Regulations

September 20, 2021 Quito, Ecuador Lowell Mineral Exploration Ecuador S.A. (“Lowell” or the “Company”), subsidiary of Solaris Resources Inc. (“Solaris”), together with the directors of the ArcoIris Association of Artisanal Mining, comprised of 23 people from the Shuar communities of Warints and Yawi, participated yesterday in the first meeting to share progress on draft regulations that reform processes to carry out artisanal mining and livelihood activities within mining concessions, attended by the Vice Minister of Mines, Xavier Vera, the Undersecretary of Artisanal Mining and Small Mining, Gino Marín, and the Director of Artisanal Mining, Angela Arias.

Xavier Vera, Vice Minister of Mines, highlighted, “What we are doing will mark a before and after in the development of artisanal mining. Today is a milestone and will be remembered by all for the complex issues we are discussing with the communities of Warints and Yawi within a framework of respect. In the Government of Guillermo Lasso and Minister Bermeo, we consider that small scale mining is a generator of wealth in the communities, which is why we focus our work in the field."

Organized by the Vice Ministry of Mining and Solaris, the meeting was attended by Pact International (“Pact”), an international development organization operating in 40 countries with experience in indigenous communities in the Amazon. Pact will provide advisory and implementation services in support of the responsible artisanal mining strategy, promoted by Solaris.

Federico Velásquez, Vice President of Operations, said “Solaris is once again leading dialogue with the National Government to work together to reform regulations for artisanal mining and small mining law that coexists with the development of the initial exploration of a mining industry project. This work is part of our Warintza Model and Solaris’ sustainability approach to promote responsible and sustainable socio-economic development of indigenous communities."

Franklin Kuja, member of the Board of Directors of the Strategic Alliance and the ArcoIris Association of Artisanal Mining of Warints and Yawi, expressed the commitment of the communities to work together with the Ecuadorian State and Solaris to develop formal artisanal mining in their territories stating, "As Ecuadorians, we deserve to take control of natural resources to improve the living conditions of our families and we must engage in legal and formal mining, which is why we are sitting down today to talk with the authorities and make our vision known."

Ricardo Obando, Lowell's Country Manager, expressed the Company's will to support the associative work of members of the Shuar Centers of Warints and Yawi to carry out technical artisanal mining stating, “This ensures a regulated legal structure that formalizes artisanal mining in compliance with the laws and regulations of the Ecuadorian state.”

For more information:

María Fernanda Poveda
Telephone: +593 99 655 6655
Email: maria.poveda@lowellmineral.com

About Lowell Mineral Exploration Ecuador S.A.

Lowell Mineral Exploration Ecuador S.A., an indirect subsidiary of property fully owned by Solaris, promotes the development of strategic alliances with key stakeholders in Ecuador to pave the way for best sustainable practices in responsible exploration.

About Solaris Resources Inc.

Solaris is leading 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-gold project in Ecuador; discovery potential at the Tamarugo base project in Chile and the Capricho and Paco Orco projects in Peru; exposure to expenses of US $ 130 million/5 years through an assignment agreement with Freeport-McMoRan in the Ricardo Project in Chile; and significant leverage to increase copper prices through a 60% interest in the La Verde joint venture project under development with Teck Resources in Mexico. For more information, visit www.solarisresources.com.

Cautionary Notes and Forward-Looking Statements

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.