Solaris Resources (TSX:SLS) (NYSEAmerican:SLSR) announced today the completion of a significant drilling campaign at its flagship Warintza copper project in southeastern Ecuador. The company also reported advancements on key de-risking milestones for the globally significant copper asset.

Matthew Rowlinson, President and CEO of Solaris, commented on the project’s progress and context: “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.”

He added, “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. We are excited for what lies ahead and proud to support Ecuador’s journey toward a bright and prosperous future.”

Between January 2024 and February 2025, Solaris completed over 82,000 metres of drilling, primarily focused on infill work. This drilling aims to upgrade a substantial portion of the project’s Inferred Resources to the higher-confidence Measured and Indicated categories. Data from this campaign, which also included over 15,000 metres for geotechnical, hydrogeological, and metallurgical purposes, will feed into an updated Mineral Resource Estimate (MRE). Solaris is targeting the release of this updated MRE in the third quarter of 2025 to add precision ahead of economic studies.

To date, Solaris has drilled over 200,000 metres across the Warintza Central and East porphyry systems. The company states this extensive dataset supports a highly flexible, staged mine plan focusing on near-surface mineralization, which is anticipated to significantly reduce initial capital requirements. Furthermore, improved geological insights have provided a better understanding of the overburden-to-ore profile expected over the mine’s life. As Warintza advances, Solaris is also continuing step-out field exploration activities across its broader 100%-owned land package, which spans over 260 square kilometres and contains several high-priority regional targets.

On the infrastructure front, Solaris has finished 20 kilometres of internal road access. This development now provides year-round vehicular reach to all project areas, a key advantage expected to accelerate timelines and reduce costs during any potential construction phase as the project moves toward development readiness.

The company also highlighted that the recent re-election of President Daniel Noboa provides political stability, reinforcing a supportive policy environment for project development. Solaris is currently advancing the technical review of the Environmental Impact Assessment (EIA) in collaboration with Ecuador’s Ministries of Environment and Mines. Approval of the EIA is targeted for mid-2025.

In parallel with permitting, Solaris is advancing its Pre-Feasibility Study (PFS), managed by Ausenco and Knight Piésold, with completion targeted for the third quarter of 2025. Following the PFS, work will transition into a Bankable Feasibility Study to underpin a fully optimized and financeable development plan. Solaris remains focused on reaching a Final Investment Decision (FID) by the end of 2026. The company reiterated its commitment to its participatory mining model, emphasizing strong local partnerships and social license.