Mr. Matt Boyes reports

TRANCHE 2 PLACEMENT UPDATE

Tranche 2 of Solis Minerals Ltd.'s placement announced by news release and to the Australian Securities Exchange on June 8, 2023, is expected to be completed on or around Aug. 22, 2023, subject to receipt of shareholder approval at the company's special meeting to be held on Aug. 11, 2023 (in respect of tranche 2). Such timing for closing is needed for the company to comply with its applicable regulatory requirements. The closing of the placement is also subject to the company's satisfaction of the requirements of the TSX Venture Exchange.

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 approximately 25,000 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 32,400 hectares of combined licences and applications of highly prospective IOCG (iron oxide copper/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.