The Warintza Project

Ecuador

Discovered by David Lowell in 2000, Warintza is a globally significant copper-gold porphyry deposit, with over 3.7 billion tonnes of Measured and Indicated Resources, 2.1 billion tonnes of Inferred Resources, 1.3 billion tonnes of Mineral Reserves, a low strip ratio, and early access to high-grade material, Warintza stands as one of the most compelling copper development assets anywhere in the world.

Located in Ecuador’s low-cost, pro-mining southeast corridor, it represents a rare opportunity to develop a multi-generational mine with global impact.

Located in Ecuador’s low-cost, pro-mining southeast corridor, it represents a rare opportunity to develop a multi-generational mine with global impact.

Pre-Feasibility Highlights:

Globally significant Mineral Resource with extensive mine life and first quartile cash costs driving significant FCF generation:

Average annual copper equivalent production of over 300,000 tonnes in the first five years and over 240,000 tonnes during the first 15 years

Average annual copper equivalent production of over 300,000 tonnes in the first five years and over 240,000 tonnes during the first 15 years

Average annual copper equivalent production of over 300,000 tonnes in the first five years and over 240,000 tonnes during the first 15 years

First quartile AISC of US$0.85/lb of payable Cu for the first five years and US$1.07/lb of payable Cu during the first 15 years

First quartile AISC of US$0.85/lb of payable Cu for the first five years and US$1.07/lb of payable Cu during the first 15 years

First quartile AISC of US$0.85/lb of payable Cu for the first five years and US$1.07/lb of payable Cu during the first 15 years

Post-tax NPV8% of US$4,617M (pre-tax NPV8% of US$7,492M) and a post-tax IRR of 26% (pre-tax IRR of 34%)

Post-tax NPV8% of US$4,617M (pre-tax NPV8% of US$7,492M) and a post-tax IRR of 26% (pre-tax IRR of 34%)

Post-tax NPV8% of US$4,617M (pre-tax NPV8% of US$7,492M) and a post-tax IRR of 26% (pre-tax IRR of 34%)

Average annual EBITDA of US$1.9bn for the first five years and US$1.4bn during the first 15 years

Average annual EBITDA of US$1.9bn for the first five years and US$1.4bn during the first 15 years

Average annual EBITDA of US$1.9bn for the first five years and US$1.4bn during the first 15 years

Average annual post-tax FCF of US$1.3bn for the first five years and US$1.0bn over the first 15 years

Average annual post-tax FCF of US$1.3bn for the first five years and US$1.0bn over the first 15 years

Average annual post-tax FCF of US$1.3bn for the first five years and US$1.0bn over the first 15 years

Initial capital costs (pre-production) of US$3.7bn (including 15.7% overall contingency)

Initial capital costs (pre-production) of US$3.7bn (including 15.7% overall contingency)

Initial capital costs (pre-production) of US$3.7bn (including 15.7% overall contingency)

Attractive capital intensity of ~US$15,440/avg tpa-CuEq over the first 15 years

Attractive capital intensity of ~US$15,440/avg tpa-CuEq over the first 15 years

Attractive capital intensity of ~US$15,440/avg tpa-CuEq over the first 15 years

2.6 year post-tax payback period (1.9 year pre-tax payback)

2.6 year post-tax payback period (1.9 year pre-tax payback)

2.6 year post-tax payback period (1.9 year pre-tax payback)

Maiden Mineral Reserve estimate of 1.3 billion tonnes (Proven and Probable) at 0.41% CuEq (0.31% Cu, 0.02% Mo, 0.04 g/t Au and 1.30 g/t Ag), providing a mine life of 22 years

2025 Mineral Resource Estimate (“MRE”) incorporates a 312% increase in Measured plus Indicated Mineral Resources, at a cut-off grade of 0.1% Cu and a net smelter return (“NSR”) cut-off value of US$6.30/t, compared with the published 2024 MRE

Possibility of extending the mine life by a timeframe in the order of 25 to 30 years beyond the Mineral Reserves

LOM average strip ratio of 0.53 to 1 (waste to ore) positions Warintza as one of the lowest strip ratio copper mines globally, underpinning a very favourable strip-adjusted grade

Operational simplicity driven by conventional open pit mining methods operating at low elevation and using standard processing equipment

Excellent access to infrastructure (water, power, roads, ports, etc.)

Production of both a high-quality copper concentrate and a clean molybdenum concentrate, both products have non-material levels of deleterious elements

Warintza: A Trusted Tier-1 Project

Warintza is underpinned by a strong and structured social foundation, built through formal agreements, inclusive dialogue, and shared value creation with Indigenous communities and local stakeholders.

Warintza is underpinned by a strong and structured social foundation, built through formal agreements, inclusive dialogue, and shared value creation with Indigenous communities and local stakeholders.

Extract from Solaris Corporate Presentation

August 2025

Warintza checks every box: global scale, size, and longevity, technical simplicity in a supportive mining jurisdiction, exceptional economics driven by a world-class strip adjusted grade, and above all, optimal timing to production in a tightening copper market.

Size, Scale, Longevity & Optionality

Size, Scale, Longevity & Optionality

Size, Scale, Longevity & Optionality

Technical Simplicity

Technical Simplicity

Technical Simplicity

Supportive Mining District

Supportive Mining District

Supportive Mining District

Robust Economics

Robust Economics

Robust Economics

District Exploration Hub

District Exploration Hub

District Exploration Hub

Resource & Reserve Tables

Resource
Classification		Tonnage
(Mt)		GradeContained Metal
CuEq
(%)		Cu
(%)		Mo
(%)		Au
(g/t)		Ag
(g/t)		Cu
(Mt)		Mo
(kt)		Au
(Moz)		Ag
(Moz)
Measured1,1960.450.350.020.041.314.12311.751
Indicated2,5500.250.200.010.031.135.02222.593
Measured plus Indicated3,7460.320.240.010.041.199.14534.2143
Inferred2,0920.200.160.010.021.113.31411.675
Reserves
Classification		Tonnage
(Mt)		GradeContained Metal
CuEq
(%)		Cu
(%)		Mo
(%)		Au
(g/t)		Ag
(g/t)		Cu
(Mt)		Mo
(kt)		Au
(Moz)		Ag
(Moz)
Proven7970.490.370.020.051.373.01711.235.0
Probable5030.280.220.010.031.191.1430.619.2
Total1,3000.410.310.020.041.304.12141.854.1

Watch Our Major Warintza Announcement

Solaris Resources is unlocking one of the world’s most compelling copper discoveries in southeastern Ecuador. With 1.3 billion tonnes of Mineral Reserves, a US $4.6 billion NPV, and first-quartile costs, the Warintza Project combines scale, simplicity, and sustainability in a rapidly tightening copper market.

View our Official Press Release in News Hub

Published Thursday, November 06 2025

Watch: Corporate Video Announcement

Watch: Corporate Video Announcement

Responsible Mining — Inclusive Approach

Involving Community

Community Involvement is Key to Warintza Success

Responsible Mining — Inclusive Approach

Involving Community

Community Involvement is Key to Warintza Success

Responsible Mining — Inclusive Approach

Involving Community

Community Involvement is Key to Warintza Success

Our Success Story

From discovery in 2000, Warintza has progressed through dialogue, trust, and resolution. The Impact & Benefits Agreement, first signed in 2020 and updated in 2024, underpins lasting community partnership.

From discovery in 2000, Warintza has progressed through dialogue, trust, and resolution. The Impact & Benefits Agreement, first signed in 2020 and updated in 2024, underpins lasting community partnership.

An Innovative Approach

Our model is rooted in transparency, education, and inclusion. Continuous engagement ensures that communities are informed, empowered, and part of the project’s evolution.

Our model is rooted in transparency, education, and inclusion. Continuous engagement ensures that communities are informed, empowered, and part of the project’s evolution.

Community at the Core

Local voices guide each step of Warintza. Capacity-building programs and open dialogue have built resilience, enabling communities to share in the project’s progress.

Local voices guide each step of Warintza. Capacity-building programs and open dialogue have built resilience, enabling communities to share in the project’s progress.

The Warintza Model

A participatory approach uniting State, Company, and Community. The model invests in health, education, entrepreneurship, gender equality, human rights, and environmental stewardship; delivering sustainable development alongside mining.

A participatory approach uniting State, Company, and Community. The model invests in health, education, entrepreneurship, gender equality, human rights, and environmental stewardship; delivering sustainable development alongside mining.

Customer Spotlight

"Ecuador is a megadiverse country, and we came to PDAC to show the industry that it is possible to develop mining projects in a responsible and inclusive way and that we are the main guarantee of the Warintza Project moving forward."

Franklin Kuja

Indigenous Leader of the Warints Community

Warintza Reports & Announcements

View and/or download our latest Technical Reports below.

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Solaris Investor Portal

Looking for Investor Materials?

Visit our Investor Portal for reports, filings, and updates.

Solaris Investor Portal

Looking for Investor Materials?

Visit our Investor Portal for reports, filings, and updates.

Solaris Investor Portal