Reserves & Resources

Projects

Warintza Mineral Resource Estimate Sensitivity

Cut-off Category Tonnage Grade
CuEq (%)   (Mt) CuEq (%) Cu (%) Mo (%) Au (g/t)
0.15% Measured 246 0.61 0.45 0.02 0.05
Indicated 836 0.44 0.30 0.02 0.04
M&I 1,082 0.48 0.34 0.02 0.04
Inferred 3,135 0.27 0.20 0.01 0.04
0.25%
(Base Case)		 Measured 232 0.64 0.47 0.02 0.05
Indicated 677 0.49 0.34 0.02 0.04
M&I 909 0.53 0.37 0.02 0.05
Inferred 1,426 0.37 0.27 0.01 0.04
0.35% Measured 207 0.68 0.50 0.03 0.06
Indicated 497 0.56 0.40 0.02 0.05
M&I 704 0.60 0.43 0.02 0.05
Inferred 640 0.47 0.34 0.02 0.05
0.50%
(Higher Grade)		 Measured 157 0.76 0.56 0.03 0.06
Indicated 269 0.69 0.50 0.03 0.05
M&I 427 0.71 0.52 0.03 0.06
Inferred 177 0.62 0.45 0.02 0.07

Notes to Table 1:

  1. The Mineral Resource Estimate was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves, adopted by the CIM Council on May 10, 2014.
  2. Reasonable prospects for eventual economic extraction assume open-pit mining with conventional flotation processing and were tested using Whittle and Minesight pit optimization software with the following assumptions: metal prices of US$4.00/lb Cu, US$20.00/lb Mo, and US$1,850/oz Au; operating costs of US$1.50/t+US$0.02/t per bench mining, US$5.0/t milling, US$1.0/t G&A, and recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical testwork.
  3. Metal price assumptions for copper, molybdenum and gold are based on a discount to the lesser of the 3-year trailing average (in accordance with US Securities and Exchange Commission guidance) and current spot prices for each metal.
  4. Mineral Resources include grade capping and dilution. Grade was interpolated by ordinary kriging populating a block model with block dimensions of 25m x 25m x 15m.
  5. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  6. Copper-equivalent grade calculation for reporting assumes metal prices of US$4.00/lb Cu, US$20.00/lb Mo, and US$1,850/oz Au, and recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical testwork and includes provisions for downstream selling costs. CuEq formula: CuEq (%) = Cu (%) + 5.604 × Mo (%) + 0.623 × Au (g/t).
  7. The Mineral Resources estimate was prepared by Mario E. Rossi, FAusIMM, RM-SME, Principal Geostatistician of Geosystems International Inc., who is an Independent Qualified Person under NI 43-101. The Mineral Resources estimate is at a base case of 0.25% CuEq¹ cut-off grade and other estimates at varying cut-off grades are included only to demonstrate the sensitivity of the Mineral Resources estimate and are not the QP’s estimate of the Mineral Resources for the property.
  8. In Mr. Rossi’s opinion, there are currently no relevant factors or legal, political, environmental, or other risks that could materially affect the potential development of Mineral Resources.
  9. All figures are rounded to reflect the relative accuracy of the estimate and therefore may not appear to add precisely.
  10. The effective date of the mineral resource estimate is July 1, 2024.

The corresponding Technical Report disclosing the MRE in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) will be prepared by Mr. Rossi and available on the Company’s website at www.solarisresrouces.com and on SEDAR+ under the Company’s profile at www.sedarplus.ca within 45 days of the corresponding press release dated July 22, 2024.