Mr. Mitch Thomas reports

SOLIS MINERALS ANNOUNCES $4.5 MILLION PLACEMENT BOLSTERS FUNDING AHEAD OF DRILLING IN COPPER-RICH REGION OF PERU

Solis Minerals Ltd. has received firm commitments for a placement of CHESS depository interests over common shares at 8.5 Australian cents per new share along with a one-for-two accompanying unlisted option exercisable at 16 cents with a two-year term to raise a total of $4.5-million (before costs).

The placement received strong support from a range of new and existing sophisticated investors and institutions.

Proceeds from the placement will be used to finance continuing work across the company's extensive copper portfolio in the Southern Coastal belt of Peru. Coming programs include drilling at the primary Ilo Este and Chancho Al Palo copper targets; geochemical, geophysical and permitting work at the Cinto project to enable drilling in second half 2025; regional exploration to work up drill targets at the company's other projects, including the Chocolate and Canyon projects; and general working capital purposes.

Newly appointed chief executive officer Mitch Thomas commented: "Solis has successfully established a significant landholding across nearly 70,000 hectares in the prolific Coastal copper belt of Peru with systematic exploration work to date across the portfolio, identifying a pipeline of highly prospective priority copper targets.

"We are delighted to receive such strong support for the placement demonstrating the recognized quality of Solis Minerals' drill-ready targets in the copper-rich region of southern Peru.

"The company is now in a strong financial position ahead of drilling across our priority copper drill targets in Peru, commencing at Ilo Este and Chancho al Palo, where remaining approvals required to commence drilling are expected imminently.

"Two thousand twenty-five will be an exciting year for Solis Minerals with strong news flow to be delivered from our drilling program, covering multiple prospects over the course of the year."

Placement details

Under the placement, Solis will issue 52,941,177 CDIs (new shares) to raise $4.5-million (Australian), with 13,176,732 new shares to be issued pursuant to the company's 15-per-cent placement capacity under Australian Securities Exchange listing Rule 7.1 and 8,784,488 new shares to be issued pursuant to the company's 10-per-cent placement capacity under ASX listing Rule 7.1A (tranche 1) to raise $1.87-million.

The company will raise $2.63-million in a second tranche through the issue of 30,979,957 new shares, which will be subject to shareholder approval (tranche 2), along with the placement options at a general meeting of the company's shareholders scheduled to take place in late March, 2025.

Directors of the company have committed to invest $205,000 (Australian), which is subject to shareholder approval as part of the tranche 2 settlement.

Euroz Hartleys Ltd. and GBA Capital Pty. Ltd. acted as joint lead managers to the placement.

About Solis Minerals Ltd.

Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal belt of Peru and currently holds 81 exploration concessions for a total of 69,200 hectares (46 concessions granted with 35 applications in process).

The company is led by a highly credentialled and proven team with excellent experience across the mining life cycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper, and Solis, under its leadership team, is strategically positioned to capitalize on the growth in the opportunities within this mineral-rich region.

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, a qualified person as defined by National Instrument 43-101. Mr. Parker is executive director of the company.

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