Solaris Resources Inc. (“Solaris” or the “Company”) reported the successful conclusion of an extensive drilling campaign at its premier Warintza Project located in southeastern Ecuador. This achievement is accompanied by important advancements that further strategically mitigate risks and increase the value of this globally important copper asset.
With more than 82,000 m of infill drilling completed between January 2024 and February 2025, Solaris is now in a position to upgrade a significant percentage of Inferred Resources to the Measured and Indicated categories.
This information will be incorporated into an updated Mineral Resource Estimate (MRE), which is scheduled for Q3 2025. This will advance the Warintza Project toward development by providing accuracy and assurance before economic studies.
The more than 15,000 m of geotechnical, hydrogeological, and metallurgical holes drilled during the drilling campaign will support the project’s technical studies. Solaris has drilled over 200,000 m through the Warintza Central and East porphyry systems so far. This large dataset supports a highly adaptable, staged mine plan supported by near-surface mineralization, and it is anticipated that this will significantly lower the initial capital needs.
Enhanced geological understanding has simultaneously made it possible to comprehend the extremely competitive overburden-to-ore profiling throughout the mine life.
Solaris is unlocking value across its larger 100%-owned land package of over 260 km², which includes several high-priority regional targets, as Warintza develops into a near-term, tier-one, multigenerational copper project. Activities for step-out field exploration are still going on.
In terms of infrastructure, Solaris has now finished building 20 km of internal road access, allowing vehicles to reach all project areas throughout the year. This greatly shortens the construction phase timelines and lowers costs, which is advantageous as the company moves toward development readiness.
Political stability brought about by President Daniel Noboa’s recent reelection strengthens the favorable legislative climate that has allowed Solaris to continue making progress on stakeholder engagement and permits.
With approval anticipated in mid-2025, the company is working with Ecuador’s Environment and Mines Ministries to advance the technical review of the Environmental Impact Assessment (EIA).
Under the direction of Ausenco and Knight Piésold, Solaris is also moving forward with its Pre-Feasibility Study (PFS), which is expected to be finished in Q3 2025. A fully optimized and financially feasible development plan will then be further supported by the Bankable Feasibility Study.
To create long-term value for all stakeholders, Solaris is steadfast in its commitment to its participatory mining model, which cultivates solid local partnerships and social license.
The company is on track to deliver a Final Investment Decision (FID) by year-end 2026, a significant milestone given the strong outlook for the global copper market. Thanks to consistent progress made on the technical, environmental, and social fronts, this is a significant milestone.
Ecuador’s future is filled with promise, and we look forward to working hand-in-hand with the new government to unlock the full potential of the Warintza Copper Project, a unique, global-scale, tier 1, multigenerational asset, for Ecuador, by Ecuador. Warintza stands as a symbol of what sustainable and responsible development can achieve. Our commitment to operating with integrity, empowering local communities, and creating lasting value for all stakeholders remains at the core of everything we do.
Matthew Rowlinson, President and Chief Executive Officer, Solaris Resources Inc.
Rowlinson said, “We are excited for what lies ahead and proud to support Ecuador’s journey toward a bright and prosperous future.”