Mr. Matthew Boyes reports

SOLIS ANNOUNCES CLOSING OF TRANCHE 2 OF THE PLACEMENT

Solis Minerals Ltd. has closed the second tranche of the placement, issuing a total of 9,521,818 shares at 55 Australian cents per share to raise gross proceeds of $5,236,999.90 (Australian). The company's total issued equity capital after the tranche 2 allotment is 87,799,883 shares.

Assisting brokers received, in aggregate, fees of 6 per cent of the proceeds raised under the placement, being a total of $89,999.93, in connection with the closing of tranche 2.

Tranche 2 of the placement was approved by shareholders at a special shareholder meeting of the company held on Aug. 11, 2023, in Perth, Western Australia.

Additionally, the company has granted seven million performance rights to its directors, with the terms and conditions disclosed under Schedule 4 of the notice of special meeting released to the Australian Securities Exchange on July 12, 2023.

CDIs trading on the ASX issued on account of the shares cannot be converted into common shares of the company for the purposes of trading such shares in Canada until four months and one day have elapsed from the issuance date.

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 25,600 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/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.