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Lowell Receives Carbon Footprint Quantification Badge for Warintza Project

August 28, 2023 – Quito, Ecuador. - Lowell Mineral Exploration Ecuador S.A. (“Lowell” or the “Company”), a subsidiary of Solaris Resources Inc. ("Solaris"), is pleased to announce the receipt of a “Carbon Footprint Quantification Badge” (Level 1) from the Ministry of Environment, Water, and Ecological Transition of Ecuador (“MAATE”) as part of its Zero Carbon Ecuador Program (“PECC”).

The Minister of Environment, Water, and Ecological Transition, José Dávalos, stated: “Lowell was the first mining company to join the PECC in late 2021. Quantifying the carbon footprint in the mining sector is a challenging task, which is why it is truly commendable that a mining company achieves this certification. Responsible mining is possible in Ecuador by complying with legal standards. We encourage the adoption of international standards and recognize companies that go beyond the requirements of Ecuadorian legislation. Lowell is an example of this and we hope it serves as an inspiration not only to other companies in the mining sector but to all industries in Ecuador.”

The PECC promotes the implementation of measures and actions for quantifying, reducing, and neutralizing Greenhouse Gas (GHG) emissions produced in various processes and activities of the productive and service sectors of the country through a verifiable and transparent system. As such, the “Carbon Footprint Quantification Badge” is an environmental incentive granted by the MAATE to companies that quantify and report their carbon footprint, which must be verified according to the requirements and guidelines of the NTE INEN-ISO 14064-1:2018-GHG PROTOCOL and Zero Carbon Ecuador Program PECC MAATE-2021-047 standards and ISO standards.

Federico Velásquez, President of Solaris for Latin America, commented, “This milestone is the first step in the implementation of our carbon reduction strategy by quantifying our carbon footprint through an independent, verified entity in order to reduce our emissions and contribute to mitigating climate change. These concrete actions allow us to catalyze change and lead our industry towards a greener future and guarantee the rights of the communities involved in the Warintza Project. We are now actively working towards achieving the targets set for Level 2 of PECC carbon reduction where we not only implement actions to mitigate environmental impacts but also further safeguard natural resources for future generations.”

Solaris Resources operates the Warintza Project located in southeastern Ecuador in the province of Morona Santiago. Through the "Warintza Verde" program, the Company contributes to United Nations Sustainable Development Goal #13 and commits to integrating climate change measures into its policies, strategies, and implementing proactive measures to reduce its carbon footprint.

For more information
María Fernanda Poveda
Tel: +593 99 655 6655
Email: maria.poveda@lowellmineral.com

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 Solaris Resources Inc.

Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes: its primary focus, a world class large-scale resource with expansion and discovery potential at the Warintza Project in Ecuador; discovery potential at its Ricardo Project and Tamarugo Project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; 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. 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.