Solaris Resources (TSX:SLS)(NYSEAmerican:SLSR) has announced the formation of an Inter-Institutional working group. This group includes the Pueblo Shuar Arutam organization (PSHA), the host communities of Warints and Yawi, and the Ecuadorian State. The PSHA and its Governing Council have approved and signed a Letter of Intent (LOI) with Solaris.

Matthew Rowlinson, President and CEO commented in a press release: “At Solaris Resources, we believe that sustainable mining is not just an economic endeavour; it is a journey that must include the insights and values of every stakeholder involved, especially our indigenous populations. Their lived experiences and deep connection to the land are vital to shaping responsible mining practices that respect both our natural environment and cultural heritage. As we move forward, its vital we embrace an open dialogue and partnership rooted in trust, understanding, and mutual respect. Together, we continue to create a model for mining that not only drives economic growth but also uplifts our communities and preserves the rich tapestry of the Ecuadorian culture. Thanks to the Pueblo Shuar Arutam organization, and all other stakeholders, for their trust and support as we look to sustainably deliver this Tier 1 asset. This project is for Ecuador, by Ecuador and for the benefit of all stakeholders today, and the generations to come.”

The signing of the LOI occurred on February 5, 2025, at the Yawi Shuar Center. This ratification followed a resolution by the PSHA on January 18, 2025, to form the working group. The PSHA, an indigenous organization in Morona Santiago, operates outside of Solaris’ direct area of influence.

This development builds upon existing agreements between Solaris and the Shuar communities of Warints and Yawi. These communities have an Impacts and Benefits Agreement (IBA) with Solaris. The IBA was initially signed in September 2020, updated in March 2022, and again in April 2024. Solaris also has a trilateral cooperation agreement with the Interprovincial Federation of Shuar Centers (FICSH) and the Alliance for Entrepreneurship and Innovation of Ecuador (AEI).

The Inter-Institutional working group and the LOI aim to facilitate transparent dialogue and workshops. These discussions intend to lead to a future Cooperation Agreement, with the consent of the communities involved.

The PSHA, located in southeast Morona Santiago, comprises nearly ten thousand people organized into 47 Shuar centers.

The existing IBA with Warints and Yawi covers the Warintza Project. It aims to provide community support for the project’s progression from exploration and development to production. The IBA includes commitments to support the communities’ social and cultural practices, mitigate adverse impacts, and provide employment, contracting, and business opportunities. It also includes education, skills training, community infrastructure development, and financial benefits.

The trilateral cooperation agreement with FICSH and AEI, announced in March 2024, aims to promote economic and social development for Shuar communities. This includes health, education, skills training, entrepreneurship, innovation, and sustainable mineral resource development programs. FICSH includes 50 associations, 500 Shuar communities, and approximately 143,000 Shuar indigenous people.

In addition to the LOI, Solaris has concluded its infill drilling program at Warintza. The program included over 75,000 meters of drilling in 2024 and an additional 5,000 meters in early 2025, totaling over 80,000 meters. The primary goal of the drilling was to convert Inferred mineral resources to Measured and Indicated, and to expand uncategorized areas within the pit shell.

The data from this drilling program will form the basis for an updated Mineral Resource Estimate (MRE), expected to be published in mid-2025. This MRE will then be incorporated into the Pre-Feasibility Study (PFS), scheduled for release in Q3 2025.