Mr. Matt Boyes reports

EXPLORATION UPDATE - BORBOREMA AND JAGUAR PROJECTS

Solis Minerals Ltd. has provided exploration updates for the Estrella prospect, located within the Borborema project area, and the Jaguar project. Both projects are located in Brazil, which is rapidly developing into an exciting and globally significant high-grade lithium region.

Executive director Matthew Boyes commented: "We are pleased to advise that exploration at the Borborema project is delivering on expectations, yielding positive results from the preliminary reconnaissance mapping program.

"The identification of three new lithium-bearing outcropping pegmatites and rock chip samples returning up to 7.60 per cent Li2O is highly encouraging. The team is looking forward to completing the full geochemical soil program in the area and then drilling the three outcropping pegmatite dikes.

"We are currently renegotiating an extension for our due diligence period on the Jaguar project, which will allow the necessary time to evaluate the asset more adequately and systematically. With a large track-mounted drill rig currently on its way to site, we will begin to see some tangible progress at Jaguar over the coming months.

"We are located in the right region at the right time as Brazil continues to grow into a leading, Tier 1, high-grade-lithium region. I look forward to keeping shareholders informed of progress on both of our compelling lithium projects over the coming months."

Brazilian lithium projects

Borborema lithium project area -- Estrella prospect

The company's Borborema project has seen notable progress, with an additional exploration team mobilized to site to commence reconnaissance work on the targeted areas of the project area. This work will be focused on ground checking, as well as commencement of a full geochemical soil program to assist with additional target development.

Within the Estrella prospect, Solis has already identified three large outcropping pegmatites with confirmed spodumene present. Float and rock chip samples have confirmed these pegmatite bodies are lithium bearing, with assay results up to 7.6 per cent Li2O reported.

Jaguar lithium project

Solis is currently renegotiating an extension to its due diligence period at the Jaguar project. To date, initial drilling rates and progress have not been sufficient for the company to test all available target areas over the 300-hectare lease area.

To adequately test all available targets, the company is negotiating an additional six months before committing to the binding option agreement currently in place.

At this time, Solis's management is considering the quantum of the payments pending under the option agreement and believes the extension period of due diligence is required to act in the best interest of its shareholders and to allow the company to complete all the required and planned drilling to fully assess the potential of the project.

Samples from three drill cores have been submitted to SGS Laboratories in Minas Gerais, with results scheduled to be reported later this month.

About Solis Minerals Ltd.

Solis Minerals is an emerging lithium explorer focusing on Latin American battery minerals.

The company owns a 100-per-cent interest in the Borborema lithium project in northeast Brazil, covering 25,600 hectares. The company has extended the due diligence period for the option agreement to acquire 100 per cent of the Jaguar lithium project in Bahia state, Brazil.

Brazil is rapidly growing in global importance as an exporter of lithium to supply increasing demand of battery manufacturers. Both of the company's projects cover highly prospective, hardrock lithium ground, which early-stage reconnaissance mapping and sampling have verified. Drilling programs are either under way or due to commence shortly.

In addition, Solis also holds a 100-per-cent interest in 35,700 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.

Qualified person statement

The technical information in this news release was reviewed by Derrick Strickland, PGeo, a qualified person as defined by National Instrument 43-101.

Competent person statement

The information in this news release concerning geological information and exploration results is based on and fairly represents information compiled by Matthew Boyes, a competent person who is a fellow of the Australasian Institute of Mining and Metallurgy. Mr. Boyes is an employee of Solis and has sufficient experience which is relevant to the style of mineralization and types of deposit under consideration and to the exploration activities undertaken to qualify as a competent person as defined in the 2012 edition of the Australian Code for Reporting of Mineral Resources and Ore Reserves. Mr. Boyes consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr. Boyes has provided his prior written consent regarding the form and context in which the geological information, exploration results and supporting information are presented in this announcement.

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