The presentation discusses Solaris Resources' portfolio of copper and gold assets in the Americas, with a focus on its flagship Warintza project in Ecuador. Warintza has an in-pit inferred resource of 124Mt at 0.7% CuEq and was discovered in 2000 by legendary explorer David Lowell, though it saw little work until recently. Solaris has re-established relationships with local communities and obtained permits to advance the project. Drilling is ongoing to expand the high-grade core and test other targets in the 5km mineralized trend, which remains open in all directions.
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Solaris resources november ir deck4
1. Copper, Gold Growth and Discovery in the Americas
Corporate Presentation
November 2020
World’s Greatest Explorer –
Assembled Portfolio, Designed Programs,
Our Discoveries Honor His Legacy
2. 2
This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company's continuous disclosure documents. All amounts expressed in
Canadian $ unless otherwise stipulated.
Forward-looking Statements
This presentation includes certain statements that constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking
statements"). These statements appear in a number of places in this presentation and include statements regarding our intent, or the beliefs or current expectations of our officers and directors. Such forward-looking
statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. When used in this presentation words such as "intends", "expects", "will be", "underway", "targeted", "planned", "objective", "expected", "potential",
"continue", "estimated", "would", "subject to" and similar expressions are intended to identify these forward-looking statements. Although Solaris Resources (the "Company") believes that the expectations reflected in
such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance 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,
including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators, and assumptions made with regard to the ability to advance exploration efforts at
Warintza, Ricardo, La Verde and the other projects; the results of such exploration efforts; and the Company’s ability to advance its projects and achieve its growth objectives.
These forward-looking statements are based largely on current expectations and projections about future events and financial trends affecting the financial condition of our business. These forward-looking statements
were derived using numerous assumptions regarding expected project parameters, results of operations, performance and business prospects and opportunities that could cause actual results to differ materially from
those in the forward-looking statements. While the company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Forward-looking statements are
based on information available at the time those statements are made and/or management's and/or its qualified persons' good faith belief as of that time with respect to future events, and are subject to information
currently available, they may prove to be incorrect. Forward-looking statements are based on information available at the time those statements are made and/or management's and/or its qualified persons' good faith
belief as of that time with respect to future events, and are subject to known and unknown risks and uncertainties outlined in the Company's corporate disclosure and other documents filed on www.sedar.com, that
could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date those statements are made.
Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or
developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All
forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
Technical Information
The technical information contained in this document has been reviewed and approved by Jorge Fierro, M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” under NI 43-101. All technical
information related to Warintza is based on the “Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit" prepared by Equity Exploration Consultants Inc. with an effective date of December 13, 2019. All
technical information related to La Verde is based on the "Technical Report, La Verde Copper Project" prepared by AMC Mining Consultants (Canada) Ltd. with an effective date of June 20, 2018.
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources
The mineral resource estimates described in this presentation have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms
"mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in NI 43-101 and recognized by Canadian securities laws but are not defined terms under the
U.S. Securities and Exchange Commission ("SEC") Guide 7 ("SEC Guide 7") or recognized under U.S. securities laws. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories
will ever be upgraded to mineral reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an "inferred mineral resource" will ever by upgraded to a higher category. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-
feasibility studies. U.S. investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Accordingly, these mineral resource estimates and related
information may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations
thereunder, including SEC Guide 7.
Forward-Looking and Cautionary Statements
3. 3
Tamarugo
Ricardo
La Verde
Warintza
Peru JVs
Leverage through drilling to
multiple-times resource growth
and discovery potential
Solaris is responsibly and sustainably advancing a
portfolio of copper and gold projects in the
Americas:
Focused on Flagship Warintza, Ecuador –
High grade open pit resource within 5 km trend of
outcropping copper porphyry; untested gold potential
Discovery Potential –
Drilling for discoveries at Tamarugo and Ricardo in Chile
and Capricho and Paco Orco in Peru
Exploration Programs Designed by David Lowell –
Assembled portfolio and designed programs led by
his protégé, Jorge Fierro, VP, Exploration
Managed by the Augusta Group –
Highly-specialized in exploration and development,
unrivaled track record of over $4.5B exits / 10 yrs
Project Portfolio | Multiple-Times Growth and Discovery Potential
4. 4
¹Solaris issues 0.25 Solaris common share for each full share of Equinox Gold Corp. upon exercise of Equinox Warrants, and receives 1/10th of the cash proceeds payable to Equinox Gold Corp. when such warrants are exercised.
See EQX Financial Statements for full warrant pricing details.
²As at June 30, 2020
Equinox Gold
29%
Richard Warke 24%
Lundin 6%
Mgmt 5%
Beaty 5%
Lowell 2%
Spin-Out
25%
Other
4%
Share Distribution
TSX Venture Exchange SLS
Common Shares Outstanding 88.4M
Stock Options 6.3M
EQX-linked Warrants¹ 4.5M / $26M
Solaris Warrants 34.0M
Restricted Share Units 0.6M
Fully Diluted Shares Outstanding² 133.8M
Cash² $25M
Capital Structure
5. 5
Richard Warke, Executive Chairman
Arizona Mining, Equinox Gold,
Augusta Resource, Ventana Gold
Daniel Earle, President & CEO
TD Securities
Linda Chang, CFO
Arizona Mining, Augusta Resource, Ventana Gold
Purni Parikh, SVP Corporate Affairs
Arizona Mining, Augusta Resource, Ventana Gold
Federico Velasquez, VP Operations
Equinox Gold, Anglo American, Alta Gas
Chad Wolahan, VP Projects
Ivanhoe Mines, Stantec, Newcrest
Jorge Fiero, VP Exploration
Equinox Gold, Lowell Copper, BHP
Jacqueline Wagenaar, VP Investor Relations
Guyana Goldfields
Donald Taylor, Director
Arizona Mining, BHP Minerals, Bear Creek
Greg Smith, Director
Equinox Gold, Esperanza Resources,
Minefinders
Ron Walsh, Director
Walsh King LLP, Canadian Tax Foundation,
Vancouver Stock Exchange
Board & Management
Strategic Partners
Equinox Gold Corp.
Equinox Gold is an emerging mid-tier Canadian gold producer,
dual-listed in Canada and the US. The company has a reserve
base of over 12 Moz, with six mines in production and two
more in development, providing an organic growth profile to
over 1Moz annual production by 2022.
Ross Beaty
Ross Beaty is a serially-successful resource entrepreneur and
founder of Pan American Silver ($3.5B), Alterra Power ($1.1B)
and Lumina Copper, a company that turned $170M in
financing into five separate companies generating $1.4B in
shareholder value over 10 years.
Lukas Lundin
Mr. Lundin has led companies to numerous
discoveries and major transactions, including Lundin
Mining’s $3.3B merger with EuroZinc, the $2.0B sale
of Tanganyika Oil, and the $7.1B sale of Red Back
Mining.
Richard Warke
Richard Warke has also led multiple successful
mining companies, including Ventana Gold (sold for
$1.6B); Augusta Resource (sold for $670M);
Co-Founded to form Equinox Gold ($4.0B Market
Cap); and Arizona Mining (sold for $2.1B).
Augusta Group
Mining sector-focused management group
based in Canada and the U.S. with an
unrivaled track record of value creation
totaling over $4.5B in exit transactions
since 2011, and has strategic partnerships
with the leading entrepreneurs in the
mining sector.
Leadership | Track Record of Success
6. 6
El Teniente
Mirador, 2001
Pierina, 1996
Toromocho, 2005
Los Calatos, 1992
Maria Rosa, 1985Leonor, 1989
San Cristobal, 1985
Zaldivar, 1981Escondida, 1981
Bajo Alumbrera, 1968
Andina
Los Bronces
Los Pelambres
Radomiro Tomic
Spence
Chuquicamata
Collahuasi
Toquepala
Cerro Verde
Antamina
Warintza, 2000
David Lowell made more discoveries of greater
consequence than anyone in history, with over a
dozen major discoveries, including the greatest of all
time, La Escondida, which produced ~$10B of copper
last year.
Assembled our portfolio of assets and designed
programs led by his protégé, Jorge Fierro, the
Company’s VP, Exploration.
Lowell-Guilbert first defined porphyry deposit model.
Its application led to David’s first discoveries
(exposed deposits). He evolved his technique for a
second wave of discoveries (obscured deposits); His
final technique evolved to blind discoveries.
Lowell Discoveries
Major Mines
Obscured Deposits (80-90s)
Partly covered by capping, cover,
e.g., La Escondida
Blind Deposits (2000-Future)
Completely covered or deep,
e.g., Tamarugo, Ricardo
Exposed Deposits (60-80s)
Alteration systems visible from air,
e.g., Bajo Alumbrera, San Cristobal
David Lowell | World’s Greatest Explorer (1928-2020)
6
7. 7
Canada-based management group, focused on mining sector
Highly-specialized in exploration and development stage projects
Unrivaled track record of creating value, with over $4.5B in exit transactions
Part of The Augusta Group | Unrivaled Track Record of Value Creation
Sold for $1.6B in 2011 Sold for $667M in 2014 Co-Founded in 2017;
$4.0B Market Cap
Sold for $2.1B in 2018
Past Returns
(12,960% return) (3,300% return) (6,100% return) (1,700% return)
8. 8
Part of The Augusta Group | Proven Results
Hudbay increases
offer to C$3.56/sh
9. 9
We focus on limiting our environmental impacts by:
• Responsible use of resources
• Minimal impact to environment
• Reducing waste
• Identify, analyze and manage our environmental risks
We act in a socially responsible manner and contribute
to the communities in which we operate.
• Committed to working transparently with our
employees and other stakeholders to create growth
and prosperity
• Established a committee to provide us with feedback
on our corporate social responsibility efforts
We act in an ethically responsible manner and
uphold our core values using our:
• Code of Business Conduct
• Active participation in leading management and
disclosure initiatives and industry best practices
EnvironmentSocialGovernance
Responsible Mining | Environmental, Social and Governance
10. 10
Responsible Mining | Our Story, Our Model
The Warintza Success Story
World class discovery by David Lowell in 2000, sat
largely dormant since 2001 due to a breakdown in
social acceptance from local communities
Extensive dialogue led to understanding root causes
of conflict, resolution of underlying issues mid-2019;
instituted an informed, innovative CSR program
Government-Sponsored Prior Consultation process
with community stakeholders and signed Impacts &
Benefits Agreement in 2020
The Warintza Model
Prior Consultation; formalized relationship based on
trust and transparency; full permitting, with no reliance
on Administrative Silence
Extensive employment from local and surrounding
communities, boosted by skills training and capacity
building programs to foster greater inclusion
Educational site visits to projects in Ecuador, Peru and
Canada to see industry best practices firsthand and
benchmark our practices
Franklin Kuja, Indigenous Leader of the Warints community: "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.“
11. 11
Warintza Community Population
Community Number
Warints 300
Yawi 200
Total 500
Direct & Indirect Service Providers
Community Number
Warints 25
Yawi 5
Macas 35
Quito 10
Total 75
Direct Community Employment
Community Number
Warints, Yawi 77
Amazonia sector 6
Resto del país 6
Total 89
Community involvement at each step,
enhanced with capacity-building program
Maximizing community involvement
key to strong and resilient alliance
Innovative approach: commitment to
transparency, education and inclusion
Government and community understanding
of impacts and benefits of project
Responsible Mining | Inclusive Approach
12. 12
26,777 hectare property, 40 km north of Mirador Cu-Au mine (US$1.4B / 20 Mtpa),
Adjacent to San Carlos & Panantza (1.1 Bt combined)
Excellent infrastructure: highway access with road into site (October), abundant
hydroelectric power, fresh water
Minimal drilling on discovery outcrop (2000-2001) within 5 km-long system
(6.6 km in 33 holes, less than 200m avg. drilled depth)
In-Pit Inferred Resource: 124 Mt @ 0.70% CuEq¹ (0.56% Cu, 0.03% Mo, 0.1 g/t Au),
less than 1 to 1 strip ratio, open laterally in every direction and to depth
Warintza Project | World Class Project, Southeast Ecuador
1. See Resource Estimates and Cautionary Notes
2. Constraining optimised pit shell with 3D view of the inferred blocks greater than 0.2% copper (looking southeast). Strip ratio for optimised pits is 0.71:1.
Warintza Wide Open for Growth and Discovery
13. 13
Warintza Project | Drilling Extends Warintza Central
Warintza 1st Drill Program Ongoing
40 km drill program underway with two rigs currently and
third arriving imminently
All three holes returned consistent, high grade intervals
starting from surface
Interpretation: ‘outer halo’ of porphyry system, higher-
grade core to be vectored toward with additional drilling
Drill program aims to extend Warintza Central to 1,000m
depth and grow footprint laterally
Additional rigs will test porphyry centres at Warintza
West, East and South zones
15. 15
Warintza Project| Extensive System of Outcropping Porphyries
• Cu in soils ~1080 ppm
• Mo in soils ~69 ppm
• No soil anomaly
• 0.3-1.1% Cu in chips
• Cu soils ~625 ppm
• Mo soils ~61 ppm
• 81m at 1.1% Cu in channel
• Cu soils ~790 ppm
• Mo soils ~64 ppm
Open laterally - Mo anomalies
define porphyry centres
Cu soils ~683 ppm
Mo soils ~62 ppm
Scale Reference:
San Carlos-Panantza
(1.1 Bt combined)
16. 16
Historical placer mining activity on gold
shedding off Caya into drainages
Undrilled Gold Potential
Three large-scale, undrilled gold anomalies
from surface sampling (Maiki & Caya)
Pitting at Caya has uncovered gold
stockwork zone
Warintza Project| Large-Scale, Undrilled Gold Anomalies
1. Corriente Resources - Panantza and San Carlos Copper Project, Preliminary Assessment Report, October 30, 2007
17. 17
Upcoming News | News Anticipated in 2020
Drilling results from Warintza Central for rapid resource growth;
discovery potential along 5 km outcropping porphyry trend
Discovery potential at Warintza gold targets
Advancing Tamarugo in Chile toward drilling;
Capricho and Paco Orco in Peru drill-ready next year
Discovery potential from drilling at Ricardo in Chile via
JV Partner, Freeport-McMoRan
19. 19
Tamarugo Project| Discovery Potential in Chilean Copper Belt
Solaris can earn up to a 75% interest in Tamarugo for gross expenditures of
US$5.5M / 5-yrs from Freeport
5,100 hectare property in a mineralized corridor that hosts numerous porphyry
deposits
5 km NE of Copiapo with excellent access to infrastructure including power and
nearby water
Same geologic and structural setting as El Salvador and Potrerillos Copper Mines,
located ~50 km to the NE:
• El Salvador: 3.8 Bt @ 0.45% Cu
• Potrerillos: 1.0 Bt @ 0.98% Cu
Discovery potential in the same geologic area that hosts Chile’s largest
copper porphyry deposits
20. 20
Solaris option to earn up to 75%
4,600 hectare property, 60 km SE of Las Bambas, Haquira
Outcropping porphyry exposed >300 m during recent landslip
Samples from this outcrop grade up to 3% Cu
Community consultation ongoing
Capricho and Paco Orco| Discovery Potential via JV in Peru
Capricho
Solaris option to earn up to 75%
4,400 hectares property, northern extension of Southern Peru Copper Belt
Polymetallic CRD gossan outcropping in limestone extending >2 km
Surface samples up to 0.5 % Pb, 0.26% Zn and 58 g/t Ag from leached material
Community consultation ongoing
Paco Orco
21. 21
Exposure to US$4.2M of exploration spending over two years as part of
US$130M / 5-yr farm-out of 80% to Freeport-McMoRan
16,000 hectares in the most prolific section of the West Fissure fault, which
controls Chile’s largest copper deposits
Earlier efforts at drilling stymied by fault, but encountered rock types and
alteration similar to those seen at Chuquicamata
Ricardo Project| Discovery Potential via JV in Chile
Discovery potential on the same structure as one of Chile’s
largest copper mines, Chuquicamata
22. 22
La Verde Project| Leverage via Development-Stage JV in Mexico
1. See Resource Estimates and Cautionary Notes
60% ownership with Teck Resources holding 40%
Positive PEA economics with >US$617M NPV at US$2.70 copper (100% basis)¹
Paved road access to site with water, highway and rail nearby
2012 resource estimate¹:
- M&I: 408M tonnes grading 0.41% Cu containing 3.7Blbs Cu
- Inferred: 338M tonnes grading 0.37% Cu containing 2.7Blbs Cu
Development stage project with excellent infrastructure,
provides leverage to higher copper prices
24. 24
Copper Deposit Discovery Rate Remains Dismal
Source: S&P Global Market Intelligence – As of June 1, 2020
0
2
4
6
8
10
12
14
16
18
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
NumberofDiscoveries
Discovery Year
Only 1 discovery
made since 2015
2010: Muji,
2011: Cobre Panama, Timok, Cerro Negro, etc.
2012: Copa Sur
2013: Cascabel, Onto, Calingiri, West Musgrave
2014: Kamoa-Kakula, La Huifa, Jebel Ohier
2015: -
2016: Marimaca
2017: -
2018: -
2019: -
25. 25
Less than 1 Mt Discovered since 2015
¹ S&P Global Market Intelligence forecast of how the total discovered copper will increase in the coming years
Source: S&P Global Market Intelligence – As of June 1, 2020
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
0
20
40
60
80
100
120
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Copperexplorationbudget(US$M)
Copperinmajordiscoveries(Mt)
Copper in reserves, resources & past production Projected new copper in major discoveries Copper exploraton budgets¹
2010: Muji,
2011: Cobre Panama, Timok, Cerro Negro, etc.
2012: Copa Sur
2013: Cascabel, Onto, Calingiri, West Musgrave
2014: Kamoa-Kakula, La Huifa, Jebel Ohier
2015: -
2016: Marimaca
2017: -
2018: -
2019: -
26. 26
14
16
18
20
22
24
26
0 0 0 0 0 0 0 0 0 0 0 0
Milliondrymetrictonnes
Available from base case mines
Probable Brownfield Contribution
Minelife Extension Contribution
Mined copper demand
2014
Copper Supply Cliff; Discoveries Needed Today
Source: Wood Mackenzie
Demand
Projected mine production
6.0 Mt of new
production
capability
needed from
greenfield
projects
=
>100
Major
New
Mines
Discovery
Definition &
Exploration
Feasibility,
Permitting,
Financing Construction Operation
Pre-Discovery
Exploration
2008 2010 2012 2016 2018 2020 2022 2024 2026 2028 2030
27. 27
Source: BHP Climate Change Briefing -Sept 10, 2020 , S&P Market Intelligence
Copper is a Strategic Focus for Majors
Future-Facing
Commodities
Copper
•
Nickel
•
Potash
Robust demand growth from “electrification mega-trend”
superimposed on growth from traditional end uses
Supply shortfalls from due to grade decline, resource
depletion, increased input costs, water constraints, and
scarcity of quality projects
Gaping supply-demand gap cannot be filled with brownfield
expansions; 6 Mtpa production required from greenfield
projects
‘We need to secure more options in copper… through exploration and early stage entry in early-stage
resources in Canada, Mexico and Ecuador’ - BHP Group CEO, Mike Henry
BHP Copper Outlook: Sustained Upside for Prices
‘Copper is our preference. A bit like BHP, we’d love a Tier 1, large-scale and low-cost asset. Ideally, shallow
and near the coast, with good infrastructure would be ideal’ - Rio Tinto GM Exploration, Lynn Olssen
28. 28
Warintza| Among Highest Grade Quartile Among OP Mines
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80
CopperReserves&Resources(Mt)
Grade (%)
Mirador
Cobre Panama
Constancia
Filo del Sol
Zafranal
Santa Domingo
Marimaca
¹ All major open pit copper discoveries from 2000 – present with a grade of <1.0% Cu
Source: S&P Global Market Intelligence – As of June 1, 2020
Warintza
33 holes, 124Mt @ 0.56% Cu
Escondida, (33.9Mt @ 0.46%Cu)
Growth
Potential?
Sentinel
29. 29
Jul-20 Nov-20 Mar-21 Jul-21 Nov-21 Mar-22 Jul-22 Nov-22
$0
$500
$1,000
$1,500
$2,000
$2,500
Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20
MarketCapitalization(C$M)
SOLG SLS
November 2020
Solaris – Warintza (100%)
C$0.49 Market Cap
Inf: 124 Mt @ 0.70% CuEq¹
7 km Drilling
January 2018
SolGold – Alpala (85%)
C$1.2B Market Cap
Maiden Resource
Ind: 0.43 Bt @ 0.80% CuEq
Inf: 0.65 Bt @ 0.60% CuEq²
64 km Drilling
SolGold
Completes PEA
SolGold Commences
Feasibility Study
October 2020
SolGold – Alpala (85%)
C$1.4B Market Cap
M&I: 2.66 Bt @ 0.53% CuEq;
Inf: 0.54 Bt @ 0.31% CuEq³
217 km Drilling
Warintza| Rapid Value Creation in Exploration Stage
1. See Resource Estimates and Cautionary Notes
2. Technical Report on the Maiden Mineral Resource Estimate For the Alpala Deposit, Ecuador – Dec 18, 2017
3. Cascabel Property NI 43-101 Technical Report Alpala Mineral Resource - Nov 11, 2019
Definition & Exploration Feasibility & Permitting Financing & Construction
Rapid Value Creation Phase
Yr 1 Yr 2 Yr 3 Yr 5Yr 4
LASSONDE CURVE
30. 30
Resource Estimates
Warintza In-pit Mineral Resources
Resource Tonnes CuEq
(%)
Cu
(%)
Copper
(M lbs)
Mo
(%)
Mo
(M lbs)
Au
(g/t)
Au
(oz)
Inferred 123,760,200 0.70 0.56 1,516 0.03 77.5 0.06 238,600
The Warintza Mineral Resource estimate was reported in the “Resource Estimate Of The Warintza Central Cu-Mo Porphyry Deposit"
prepared by Equity Exploration Consultants Ltd. with an effective date of December 13, 2019. The Warintza Central Mineral Resource
statement has been prepared by Trevor Rabb, PGeo who is a qualified person as defined by NI 43-101. The resource is reported using a
cut-off of 0.2% copper. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as:
CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
The La Verde Mineral Resource estimate was reported in the "Technical Report, La Verde Copper Project, Michoacán State,
Mexico" prepared by AMC Mining Consultants (Canada) Ltd. with an effective date of June 20, 2018. The resource is reported
using a base-case cut-off grade of 0.2% copper. The cut-off grade of 0.2% copper is based on experience for similar open-pit
projects and a mining conceptual study which used a metal price of US$2.50/lb copper and copper metal recovery of 92%.
This Resource estimate is not constrained by a pit shell. Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability.
La Verde Mineral Resources
Resource Tonnes Cu
(%)
Ag
(g/t)
Au
(g/t)
Copper
(M lbs)
Measured 57,527,000 0.45 2.94 0.05 571
Indicated 350,442,000 0.40 2.33 0.03 3,098
Total M&I 407,969,000 0.41 2.42 0.03 3,669
Inferred 337,838,000 0.37 1.94 0.02 2,748