Solaris Appoints COO to Lead Warintza Project; US$80 Million Financing Package Well Advanced to Fund Studies and Permitting

VANCOUVER, British Columbia, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) is pleased to announce the appointment of Mr. Javier Toro as Chief Operating Officer (“COO”) to lead the advancement of the Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador starting January 1st. In addition, the Company reports that it is in advanced discussions on a US$80 million offtake financing package to fund the Project through studies and permitting.

Highlights

• Mr. Toro is a Mining Engineer with over 25 years of experience leading the design and execution of engineering and economic studies for global scale open pit copper projects in the Americas
• During an 11-year tenure with Hudbay Minerals, Mr. Toro held progressively more senior roles, most recently as Vice President, Mining Technical Services, with prior executive and director-level roles in mining, technical services, and mine optimization
• Mr. Toro provided management of National Instrument 43-101 Technical Reports, Preliminary Economic Assessments, Pre-Feasibility and Feasibility Studies for various copper projects, including the Constancia mine in Peru and Copper World mine in the United States
• Developed a strong industry reputation hosting site visits for investors, analysts, financial and strategic parties in connection with tours, financing and M&A due diligence reviews
• The Company reports that it is in advanced discussions on a US$80 million offtake financing package to fund the Warintza Project through studies and permitting
  

Mr. Daniel Earle, President & CEO, commented: “On behalf of the Board of Directors and executive team, I would like to welcome Javier to the Solaris family. Javier is a highly successful leader with a proven record of achievement that is directly relevant to our plans for Warintza. It’s a testament to the world class quality of the Project and passion of the team that we were able to successfully recruit an executive of his exceptional pedigree to lead the Project through its most critical phase.”

Mr. Toro is a Mining Engineer with over 25 years of experience leading the design and execution of engineering and economic studies for global scale open pit copper projects in the Americas. Prior to joining Solaris, Mr. Toro worked with Hudbay Minerals for over 11 years in progressively more senior capacities, most recently as Vice President, Mining Technical Services, with prior executive and director-level roles in mining, technical services, and mine optimization. Notably, Mr. Toro provided direct management of delivering technical reports and economic studies for various open pit copper projects, including the Constancia mine in Peru, Copper World mine in United States and Copper Mountain mine in Canada. Prior to Hudbay Minerals, Mr. Toro worked at Golder Associates Peru S.A. leading a team to produce the mining design, schedule and cost estimations for various projects. Prior to this, Mr. Toro held various management positions in mine operations in the areas of geotechnical, hydrogeological, mine operations, and mine planning. Mr. Toro holds a Bachelor of Mining Engineering with Honors from the National University of Engineering in Lima, Peru.