File: Attachment 240917_DroneMagRes Guaneros - FINAL.pdf

NEWS RELEASE

17 September 2024

Guaneros Drone Magnetometry and Geochemistry Identifies High Priority Targets

HIGHLIGHTS

dot Drone magnetic anomalies have been outlined in favourable geological and structural settings at Guaneros Project, Peru

dot Rock grab samples, in a zone of alteration associated with one of the magnetic anomalies, returned anomalous copper and gold values

dot The combination of magnetometry, geochemistry and mapping has established Guaneros as a high priority exploration area

dot Identified anomalies are anticipated to be followed up, where practical, with ground based Induced Polarisation (IP) surveys to assist with the final target and drill design programmes

dot Geochemical sampling and mapping will continue to gain a better understanding of alteration and mineralisation styles present and assist with targeting of the first drill programmes

dot Guaneros is the fourth of five Solis project areas being progressed to drill status for copper porphyry targeting in Southern Peru and is situated on the prospective Coastal Belt between the Ilo Este and Chancho Al Palo drill targets

dot Drilling of the portfolio of targets is being planned to commence in Q4 and continue through 2025

Latin American focused copper-gold explorer, Solis Minerals Limited (ASX: SLM) ("Solis" or the "Company") is pleased to announce an update on exploration activities at the Guaneros Project situated in the prospective Coastal Belt of southern Peru (Figure 1).

Solis has completed a drone magnetometry survey over its application areas known as the Guaneros Project (Figure 2). The survey shows magnetic anomalies in areas close to the intrusive batholith contact with similar magnetic responses to those seen at Ilo Este (Figure 3). Additionally, two rock samples from outcrops north of the Guaneros southern magnetic anomaly returned copper assays of 0.37% Cu and 0.14% Cu, and gold results of 0.17g/t Au and 0.11g/t Au respectively.

Executive Director Mike Parker commented:

"The results of the drone magnetometry have made a highly significant contribution to our understanding of settings for potential mineralisation in the prospective Coastal Belt.

"At Guaneros, similar magnetic signatures to those associated with known mineralisation at nearby Ilo Este are evident. Rock samples in the area have returned highly anomalous copper

ASX: SLM Address: 3, 32 Harrogate Street, West Email: info@solisminerals.com.au TSX.V: SLMN Leederville WA 6007 OTC: WMRSF Media Contact: FRA: 08W Phone: 08 6117 4795 for Australia office Andrew Rowell (604) 209-1658 for Canada office andrew@whitenoisecomms.com

www.solisminerals.com Phone: +61 400 466 226 and gold values associated with alteration akin to porphyry style mineralisation. We will continue to complement our knowledge, with ground investigations and further geophysics where appropriate, as we develop a clear roadmap to permitting and drilling. "The Guaneros Project, along with the neighbouring Ilo Este and Chancho al Palo Projects, have developed into a major focus for our copper exploration in South Peru. We look forward to progressing our permitting and drilling".

Figure 1: Solis projects in Coastal Belt of southern Peru

Survey Details

Peruvian geophysical contractors Real Eagle Explorations completed 360km of drone lines from 6 to 20 August 2024. A GEM GSMP-25u mobile magnetometer was deployed supported by a Matrice 300RTK drone (Figure 2). The base station was a GEM GSM-19Wv7.0 Overhauser. 200m space lines, with appropriately spaced tie-lines, were flown at a maximum velocity of 28km/h with an altitude range of 30-80m above ground.

www.solisminerals.com 2 Figure 2: Flight lines for Drone Magnetometry at Guaneros totalling 360km. Right: drone taking off at Guaneros August 2024

Interpretation and Observations

For purposes of interpretation, Solis has combined magnetic data from three separate magnetic surveys in the area (Ilo Este, Solis Ilo Este and Guaneros). The datasets should not be considered as totally compatible due to differences in the acquisition method and field conditions at the time. Identification of areas of high and low magnetic response are however considered to provide a valuable guide to the underlying geology of the area, particularly when combined with extensive ground-truthing at Ilo Este. The combined results are shown in Figure 3, which reflects the unprocessed data of Total Field strength in the three areas surveyed.

Figure 3 shows an area of low magnetic response (labelled as Low Mag Trend and indicated with a white line) along the margins of the Cretaceous batholith (in red). This appears to be due to alteration and is largely coincident with hornfels, an altered rock, mapped at Ilo Este and in the south-east corner of Guaneros.

At Ilo Este, the principal drill target, as identified by magnetic and IP anomalies, is outlined in yellow and shows an overprint of the low magnetic response margin by a later event with a magnetic anomaly. Field mapping has shown that this later event consists of quartz microdiorite porphyry intrusions, some with associated surface copper oxides observed.1

A review of the magnetic response at Guaneros shows a similar overprint (outlined in yellow), identified as the Southern Anomaly, as well as other discrete anomalies on the batholith margins, outlined in light blue. Black lines represent structures and those that intersect at high angles, as in the area of magnetic anomalies described above, appear to be more favourable as potential mineralisation sites.2

The Guaneros magnetic data set will be further processed in due course using Magnetic Vector Inversion techniques to aid interpretation and follow-up programs, likely to include an IP survey.

1 SLM ASX Announcement dated 10 August 2023 - Magnetic Survey Completed - Field season is underway in Peru 2 A Model for the Lithospheric Architecture of the Central Andes and the Localization of Giant Porphyry Copper Deposit Clusters", A Farrar et al, Econ Geol, V118, 2023.

www.solisminerals.com 3 Figure 3: Compilation of Total Field magnetic surveys for Ilo Este and Guaneros oblique view from south at minus 45 deg. Ilo Este data acquired by ground magnetometry (2014) and Guaneros and Solis Ilo Este by drone magnetometry (2023-4). The combination of data is solely for interpretation purposes and does not reflect the relative magnetic responses between survey areas. High magnetic responses

are in magenta-red, whereas low responses are in blue

Figure 4: Guaneros Southern Anomaly area as shown by unprocessed Total Field results. Position of samples in Figures 5 and 6 shown. Low magnetic response area is potential alteration zone www.solisminerals.com 4 Correlation with Rock Geochemistry

Rock samples collected approximately 1km north-west of the Guaneros Southern Anomaly (Figure 4) with visible copper oxide mineralisation and alteration were reported.3

The sample areas are located in an area of low magnetic response indicating potential alteration. Subsequent assaying returned values of anomalous copper and gold (refer Figures 5 and 6, and Table 1).

Figure 5: Hornfels with fine quartz veinlets, weak Figure 6: Hornfels, some with secondary biotite, disseminated biotite, Fe oxides (goethite) in with green and black copper oxides in fractures associated with quartz. Multiple generations of fractures, green Cu oxides (malachite) and black Cu oxides in fractures and disseminated fine quartz veining indicate more than two (262120E, 8060419N) hydrothermal events (262100E, 8060641N)

Other rock samples collected on structures approximately 2km north-northeast of the Southern Anomaly returned background values of Cu and Au (see Figure 4 and Table 1). This demonstrates the potential influence of the proximity of the Southern Anomaly to mineralisation and the pathfinder value of rock geochemistry in the area.

Table 1: Rock grab sample assays

Sample E N Elev. Au (ppm) Cu (ppm) Notes 17379 263436 8061496 1114 0.028 13 17380 263437 8061523 1116 0.026 9 Figure 6 Area 17381 262100 8060641 1107 0.112 Figure 5 Area 17382 262120 8060419 1132 0.166 1435 3700

Note: The mineralisation identified, and its associated alteration, is considered a "pathfinder" exploration indicator for the potential presence of associated porphyry copper mineralisation in the tenements. Such mineralisation and alteration do not guarantee the presence of associated porphyry mineralisation and thus the significance of the assays and images are strictly in the context of exploration potential. The nature of grab samples implies that they are not necessarily representative of broader mineralisation, nor is the presence of such broader mineralisation implied.

3 ASX Announcement 10 May 2024 - Solis bolsters copper landholding in Peru (Amended)

www.solisminerals.com 5 Exploration and Drilling Pipeline

Solis is advancing its portfolio of targets in Southern Peru to targeted drilling programs as shown in Table 2 below:

Table 2: Southern Peru Target Portfolio Exploration Schedule

Project Target Mapping Magnetometry Induced Drill Drill Expected Polarisation Targeting Permitting Drilling Date* Chancho al Palo Porphyry 100% 100% 100% 100% Underway Ilo Este Cu - Au 100% 100% 100% Q4/24 100% Underway and N/A 30% Q1/25 IOCG 20% Q3-4/25 75% Q4/25 Porphyry Q1/26 Cu - Au

Cinto Porphyry 30% 70% Cu - Mo

Guaneros Porphyry 15% 100% Cu - Au

Regional Norte Porphyry 25% 100% Phase 1 Cu-Au

* Dependent upon securing permits from authorities

Drone Magnetometry surveys are over 70% completed at Cinto. Follow-up with mapping and IP surveys are planned to enable drill permitting to initiate in early 2025 for drilling to commence later in the year.

Interpretation of the magnetic survey results at Guaneros is underway, and evaluations will be conducted of which areas are suitable for IP surveys. Drill permitting is planned to start in Q1/25 to enable drilling at the end of the year.

Guaneros is partially covered with recent sediments that effectively block IP surveys due to conductive beds. This is also the case at Regional Norte. Some drill targeting may depend solely on magnetic data, structural, and mapping interpretations.

Regional Norte Phase 1 consists partly of a series of permits acquired by Solis4 in 2023, as shown in Figure 7. These permits have aerial magnetic data, which has been reprocessed using modern software to identify areas of high magnetic response that may be linked with alteration and porphyry copper mineralisation. Mapping and structural interpretation in these specific areas has identified four drill targets S1-4 (Figure 7). The area is not considered suitable for IP surveys due to conductive cover. Drill permitting will start in due course to enable drill programs to take place in Q1/26.

Additionally, the Company continues to review targeted lithium and copper opportunities throughout South America.

4 ASX Announcement 10 August 2023 Magnetic Survey Completed Field season is underway in Peru

www.solisminerals.com 6 Figure 7: Regional Norte project with magnetic anomalies S1-4 being developed as drill targets.MV plane 297m a.m.s.l approx. 400m below actual ground surface

Permit Review

The Company is continuously assessing its ground-holding portfolio with a view to minimise costs arising, in Peru, from annual concession fee payments. In this regard 4 permits were released on 1 July 2024.

The released permits were:

Kelly 00 a review of the magnetic data showed that the substantive part of the anomaly is outside of the permit and is covered by new Solis permits Solis Kelly I and II.

Uchusuma A and B applications - field visits revealed unfavourable geology due to cover. Little structural potential. The permits were located in the buffer zone with the Chilean border making the application process considerably longer.

Pallagua 1 application - field visits revealed unfavourable geology. The permit was in the buffer zone with the Chilean border making the application process considerably longer.

ENDS

www.solisminerals.com 7 This announcement is authorised by Michael Parker, Executive Director of Solis Minerals Ltd.

Contact Media & Broker Enquiries: Michael Parker Andrew Rowell & Jason Mack Executive Director Investor Relations Solis Minerals Limited White Noise Communications +61 8 6117 4795 andrew@whitenoisecomms.com jason@whitenoisecomms.com +61 400 466 226

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

About Solis Minerals Limited

Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American critical minerals portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and currently holds 50 exploration concessions for a total of 41,400Ha (40 concessions granted with 10 applications in process). The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of new opportunities across varied commodities and jurisdictions. South America is a key player in the global export market for critical minerals and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.

Forward-Looking Statements

This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward- looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward- looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Qualified Person Statement

The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101).

Competent Person Statement

The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is an employee of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation 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 Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.

www.solisminerals.com APPENDIX 1

Mining Concessions table

Westminster Peru SAC - Concessions and Applications in Peru as of 26 August 2024

Solis Permit Status August 2024

Date Concession Project Status Ha Interest Chancho Al Palo Granted 1000 Held 1. 13/10/2009 LATIN ILO NORTE 8 Chancho Al Palo Granted 1000 Chancho Al Palo Granted 1000 100% 2. 1/03/2011 MADDISON 1 Chancho Al Palo Granted 1000 100% Chancho Al Palo Granted 1000 100% 3. 1/03/2011 BRIDGETTE 1 Chancho Al Palo Granted 500 100% 5,500 100% 4. 1/03/2011 ESSENDON 26 Cinto Granted 100% Cinto Granted 1000 5. 16/11/2022 SOLIS NORTE 1 Cinto Granted 400 100% Cinto Granted 500 100% 6. 16/11/2022 SOLIS NORTE 2 Cinto Granted 500 100% Cinto Granted 100 100% Chancho Al Palo Total Granted Cinto Application 200 100% Cinto Application 300 100% 1. 4/01/2022 SOLIS06 200 2. 4/01/2022 SOLIS04 Guaneros Application 0% 3. 4/01/2022 SOLIS03 Guaneros Application 2,700 0% 4. 4/01/2022 SOLIS05 Guaneros Application 500 5. 4/01/2022 SOLIS02A Guaneros Application 0% 6. 4/01/2022 SOLIS02 Guaneros Application 1000 0% 7. 4/01/2022 SOLIS07 Guaneros Application 1000 0% 8. 4/01/2022 SOLIS07A Guaneros Application 1000 0% 1000 0% Cinto Total Granted Ilo Este Granted 1000 0% Ilo Este Granted 1000 0% Cinto Total Application Ilo Este Granted 1000 Ilo Este Granted 1. 2/05/2024 SOLIS NORTE 18 Ilo Este Granted 2. 2/05/2024 SOLIS NORTE 19 Ilo Este Application 3. 2/05/2024 SOLIS NORTE 20 4. 2/05/2024 SOLIS NORTE 21 Ilo Norte Granted 5. 2/05/2024 SOLIS NORTE 22 Ilo Norte Granted 6. 2/05/2024 SOLIS NORTE 17 Ilo Norte Granted 7. 2/05/2024 SOLIS NORTE 23 Ilo Norte Granted

Guaneros Total Application 7,000

1. 22/08/2008 LATIN ILO ESTE III 600 100% 2. 22/08/2008 LATIN ILO ESTE I 800 100% 3. 22/08/2008 LATIN ILO ESTE II 900 100% 4. 5/03/2014 LATIN ILO ESTE IX 900 100% 5. 2/10/2023 SOLIS ILO ESTE I 400 100% 6. 14/12/2023 SOLIS ILO ESTE II 1000 0% Ilo Este Total Granted 3,600

Ilo Este Total Application 1,000 1000 1. 11/03/2009 LATIN ILO NORTE 4 1000 100% 2. 11/03/2009 LATIN ILO NORTE 3 1000 100% 3. 13/10/2009 LATIN ILO NORTE 7 100% 4. 13/10/2009 LATIN ILO NORTE 6 700 100%

Ilo Norte Total Granted 3,700

www.solisminerals.com 9 1. 16/11/2022 SOLIS NORTE 4 Regional North Granted 900 100% 2. 16/11/2022 SOLIS NORTE 6 Regional North Granted 1000 100% 3. 16/11/2022 SOLIS NORTE 3 Regional North Granted 1000 100% 4. 16/11/2022 SOLIS NORTE 5 Regional North Granted 1000 100% 5. 16/11/2022 SOLIS NORTE 7 Regional North Granted 1000 100% 6. 21/02/2023 SOLIS NORTE 10 Regional North Granted 1000 100% 7. 21/02/2023 SOLIS NORTE 11 Regional North Granted 100% 8. 21/02/2023 SOLIS NORTE 8 Regional North Granted 400 100% 9. 21/02/2023 SOLIS NORTE 9 Regional North Granted 1000 100% 10. 21/02/2023 SOLIS NORTE 12 Regional North Granted 1000 100% 11. 22/06/2023 SOLIS NORTE 14 Regional North Granted 1000 100% 12. 22/06/2023 SOLIS NORTE 15 Regional North Granted 100% 13. 22/06/2023 SOLIS NORTE 16 Regional North Granted 900 100% 14. 22/06/2023 SOLIS NORTE 13 Regional North Granted 800 100% 1000 Regional North Total Granted 1000 100% 100% 1. 28/01/2021 CARUCA Regional South Granted 13,000 100% 2. 16/11/2022 SOLIS SUR 2 Regional South Granted 100% 3. 16/11/2022 SOLIS SUR 3 Regional South Granted 600 100% 4. 21/02/2023 SOLIS KELLY 01 Regional South Granted 900 100% 5. 21/02/2023 SOLIS KELLY 02 Regional South Granted 900 1000 Regional South Total Granted 1000 4,400

Concession Overview

Granted 40 Granted Ha 32,900 In Application 105 In Application Ha 8,500

Concessions released 01 July 2024

Date Concession Project Status Ha 1/03/2011 KELLY 00 Released Granted 700 28/01/2021 UCHUSUMA B Released Application 400 28/01/2021 PALLAGUA1 Released Application 600 28/01/2021 UCHUSUMA A Released Application 1000

5 Mining concession applications permit non-invasive exploration work (ie, mapping, geochemistry, geophysics)

www.solisminerals.com 10 APPENDIX 2

JORC Code, 2012 Edition Table 1

Criteria JORC Code explanation Commentary dot Rock chip and grab samples were taken Sampling dot Nature and quality of sampling (e.g. cut techniques from outcrop which exhibited visible channels, random chips, or specific copper oxide mineralisation, the samples are considered to be as representative as specialised industry standard possible of the outcropping although they are grab samples and not representative measurement tools appropriate to the of the body of mineralisation as a whole. dot Rock chip and grab samples were taken minerals under investigation, such as from outcrop of geological interest to test for pathfinder elements and/or non-visible down hole gamma sondes, or handheld mineralisation to guide exploration vectoring. XRF instruments, etc). These examples dot No historical or new drilling has been should not be taken as limiting the broad reported in this announcement.

meaning of sampling. dot No drilling reported herein.

dot Include reference to measures taken to dot No drilling reported in this announcement. ensure sample representativity and the dot Rock chip samples are logged and rock appropriate calibration of any measurement tools or systems used. type lithologies, oxidation and quantities of and types of mineralisation noted. dot Aspects of the determination of mineralisation that are Material to the Public Report.

In cases where `industry standard' work has been done this would be relatively simple (e.g. `reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

Drilling dot Drill type (e.g. core, reverse circulation, techniques open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).

Drill sample dot Method of recording and assessing core and chip sample recoveries and results recovery assessed.

dot Measures taken to maximise sample recovery and ensure representative nature of the samples.

dot Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Logging dot Whether core and chip samples have

been geologically and geotechnically

logged to a level of detail to support

appropriate Mineral Resource

estimation, mining studies and

metallurgical studies.

dot Whether logging is qualitative or

quantitative in nature. Core (or costean,

channel, etc) photography.

www.solisminerals.com 11 Criteria JORC Code explanation Commentary

dot The total length and percentage of the relevant intersections logged.

Sub-sampling dot If core, whether cut or sawn and whether dot No drill core or systematic rock channel techniques and sample quarter, half or all core taken. sampling is reported in this preparation dot If non-core, whether riffled, tube announcement. Quality of assay data and sampled, rotary split, etc and whether dot Rock chip samples taken are to be laboratory tests sampled wet or dry. considered of appropriate size and Verification of Sampling and dot For all sample types, the nature, quality representativity to ascertain if copper and assaying and appropriateness of the sample or precious metal mineralisation is present preparation technique. at the discovered outcrops, follow up Location of data systematic sampling will occur once a points dot Quality control procedures adopted for granted EIA and permit is obtained to all sub-sampling stages to maximise undertake ground disturbing activities. Data spacing representativity of samples. and distribution dot Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

dot Whether sample sizes are appropriate to

the grain size of the material being

sampled.

dot The nature, quality and appropriateness Rock chips were assayed by ALS in Lima. of the assaying and laboratory Methods used were

procedures used and whether the

technique is considered partial or total. dot Preparation PREP31

dot For geophysical tools, spectrometers, dot Analysis Au-AA23 and ME-ICP61 handheld XRF instruments, etc, the parameters used in determining the dot OREAS standards were inserted at analysis including instrument make and appropriate intervals and blanks.

model, reading times, calibrations

factors applied and their derivation, etc.

dot Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

dot The verification of significant dot All Solis data is verified by the Competent

intersections by either independent or Person. All data is stored in an electronic

alternative company personnel. Access Database.

dot The use of twinned holes.

dot Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

dot Discuss any adjustment to assay data.

dot Accuracy and quality of surveys used to dot All sample locations were captured using

locate drill holes (collar and down-hole a handheld GPS and/or DGPS.

surveys), trenches, mine workings and

other locations used in Mineral Resource

estimation.

dot Specification of the grid system used. dot Quality and adequacy of topographic

control.

dot Data spacing for reporting of Exploration dot No set sample spacing or pattern has been

Results. applied due to the preliminary nature of the

dot Whether the data spacing and sampling programme.

www.solisminerals.com 12 Criteria JORC Code explanation Commentary

distribution is sufficient to establish the dot No drilling data is reported in this degree of geological and grade announcement. continuity appropriate for the Mineral Resource and Ore Reserve estimation dot No bias has been introduced in current procedure(s) and classifications applied. drilling and sampling.

dot Whether sample compositing has been dot Samples are bagged onsite under applied. supervision of Solis staff, bags are then sealed and couriered to the relevant Orientation of data dot Whether the orientation of sampling laboratories with all relevant submission in relation to achieves unbiased sampling of possible documentation. Samples once received geological structures and the extent to which this is are logged into the lab and notice of each structure known, considering the deposit type. sample received is sent and cross checked with sample dispatch. dot If the relationship between the drilling orientation and the orientation of key dot There have been no detailed external mineralised structures is considered to audits or reviews undertaken. have introduced a sampling bias, this should be assessed and reported if dot Solis has conducted an internal technical material. review of the available geological and other publicly available data. Sample security dot The measures taken to ensure sample security.

Audits or dot The results of any audits or reviews of reviews sampling techniques and data.

www.solisminerals.com 13 Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)

Criteria JORC Code explanation Commentary

Mineral dot Type, reference name/number, location dot Mineral tenure in Peru held by Solis is and ownership including agreements or currently in good standing. A table of tenement and material issues with third parties such as tenements currently under application or joint ventures, partnerships, overriding which have been granted is included in land tenure royalties, native title interests, historical this release as APPENDIX 1 "Mining sites, wilderness or national park and concessions table". status environmental settings.

dot The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

Exploration done dot Acknowledgment and appraisal of dot The Chancho al Palo, Cinto and Guaneros

by other parties exploration by other parties. Projects have had no systematic

exploration carried out by previous

owners.

Geology dot Deposit type, geological setting and style dot Prospective potential mineralisation is

of mineralisation. interpreted to be hosted along the eastern

margin of the coastal Cretaceous batholith,

porphyry style mineralisation has the

potential to form along this major regional

trend.

Drill hole dot A summary of all information material to dot No drillhole data is reported in this release.

Information the understanding of the exploration

results including a tabulation of the

following information for all Material drill

holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o hole length

dot If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

www.solisminerals.com 14 Criteria JORC Code explanation Commentary

Data dot In reporting Exploration Results, weighting dot No data aggregation was used in reported aggregation averaging techniques, maximum and/or exploration results. methods minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

dot Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

dot The assumptions used for any reporting of metal equivalent values should be clearly stated.

Relationship dot These relationships are particularly dot No drillhole or intercept data is reported in

between important in the reporting of Exploration this announcement.

mineralisation Results.

widths and dot If the geometry of the mineralisation with

intercept lengths respect to the drill hole angle is known, its

nature should be reported.

dot If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. `down hole length, true width not known').

Diagrams dot Appropriate maps and sections (with dot The Company has included various maps

scales) and tabulations of intercepts and figures showing the location of sampled

should be included for any significant outcrop including GPOS coordinates on

discovery being reported These should local projection.

include, but not be limited to a plan view of

drill hole collar locations and appropriate

sectional views.

Balanced dot Where comprehensive reporting of all dot No drill assay results were reported in this reporting Exploration Results is not practicable, announcement.

representative reporting of both low and

high grades and/or widths should be

practiced avoiding misleading reporting of

Exploration Results.

Other dot Other exploration data, if meaningful and substantive exploration data material, should be reported including (but dot In southern Peru, the Company has access not limited to): geological observations; to historical geophysical data mainly geophysical survey results; geochemical aerial magnetics surveys -, or is carrying survey results; bulk samples size and out its own geophysical programs (drone method of treatment; metallurgical test magnetometry and Induced Polarisation results; bulk density, groundwater, (IP)). The Company relies on external geotechnical and rock characteristics; experts to process the historical or newly potential deleterious or contaminating acquired magnetic data using modern substances. techniques, ie, Magnetic Vector Inversion,

to vector on areas for IP surveys or drill

targeting. The Company uses its in-house

expertise to interpret magnetic data

combined with other data sets, ie, mapping

and geochemistry, to perform composite

exploration vectoring usually supported

by at least one ground-truthing dataset of

existing alteration and/or mineralisation.

www.solisminerals.com 15 Further work dot The nature and scale of planned further

work (e.g. tests for lateral extensions or dot The Priority for Solis is the EIA and drill depth extensions or large-scale step-out permitting which will progress on the drilling). Chancho al Palo and Ilo Este assets

dot Diagrams clearly highlighting the areas of throughout the year, Solis will commence

possible extensions, including the main drill permitting processes at Cinto and

geological interpretations and future advance where possible utilising non-

drilling areas, provided this information is invasive techniques on application areas

not commercially sensitive. and whilst awaiting drill permitting.

www.solisminerals.com 16