Mr. Matt Boyes reports

UPDATE ON LIND OPTION FUNDING AGREEMENT

Solis Minerals Ltd. has provided an update to its news release of June 8, 2023, where Solis advised that it had entered into a non-binding term sheet with Lind Partners for a financing of $2.0-million (Australian), which was to be repaid from funds received on exercise of the company's 30-Australian-cent unquoted options currently on issue (relevant options) and was to provide financing in addition to the funds to be raised under the company's $8-million placement.

Given the large number of relevant options that have already been exercised and the strong support for the placement, the company no longer requires the capital from the proposed option financing agreement and Lind Partners has mutually agreed not to enter into a formal agreement.

The company closed tranche 1 of the placement on June 19, 2023, and is in the process of seeking shareholder approval for the issue of tranche 2 of its placement.

About Solis Minerals Ltd.

Solis Minerals is a Latin American battery-mineral-focused mining exploration company. The company owns a 100-per-cent interest in the Borborema lithium project in northeast Brazil, covering 24,800 hectares. It has recently executed an option to acquire 100 per cent of the Jaguar lithium project in Bahia state, Brazil. In addition, Solis also holds a 100-per-cent interest in 32,000 hectares of combined licences and applications of highly prospective IOCG (iron oxide, copper and gold) and porphyry copper projects in southwestern Peru within the country's prolific coastal copper belt, a source of nearly half of Peru's copper production.

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