Solaris Resources Inc.

Solaris Resources Inc. is a junior copper development company headquartered in Baar, Switzerland, operating primarily in South America. The company's portfolio consists of 1 development project, in addition to several early-stage exploration prospects. Key assets include Warintza. The enterprise operates as an exploration and development company advancing a large-scale porphyry system. Its business model is centered on a commitment to participatory and responsible resource development, empowering communities and stakeholders. The operational approach utilizes advanced geophysical survey techniques, including airborne ZTEM and magnetic surveys, with full 3D inversion modeling to refine exploration targets and enhance geological understanding. This technological focus allows for more precise identification of networked sulfide mineralization and vertical zonation of porphyry systems. Processing and metallurgical strategies are based on conventional flotation, as indicated by preliminary test work. The company's competitive position is influenced by its ability to manage complex international operations and navigate multifaceted social and political landscapes. Risk management is a core component of its activities, addressing a wide range of factors from supply chain logistics and inflation to geopolitical dynamics and permitting complexities. The organization competes with other exploration entities for access to capital, specialized personnel, and strategic partnerships.

Strategic focus centers on advancing the company's material asset through a Pre-Feasibility Study, supported by a significant drilling program of approximately 60,000 meters. This program is designed to increase resource confidence, upgrade mineral resource classifications, and test open lateral extensions of known mineralization. A key objective is to convert uncategorized blocks within the conceptual pit shell to support future economic studies. The capital allocation approach involves securing multi-faceted financing packages, including senior secured debt facilities tied to project milestones and equity offerings, to fund development activities. A base shelf prospectus has also been established to provide future financial flexibility. Market positioning was enhanced through a 2024 listing on a major US stock exchange to broaden investor access. A corporate "Emigration" was completed to streamline the organizational structure, which involved closing certain international offices and restructuring the executive team to better align with its operational focus and global strategy.

Executive leadership was significantly restructured in late 2024 and early 2025, including the appointment of a new President and Chief Executive Officer with prior experience at Glencore Plc, a new Chief Financial Officer from Trident Royalties PLC, and a new Chief Operating Officer from Hudbay Minerals Inc. The board's Audit Committee is composed of 3 independent and financially literate members who meet at least quarterly to oversee financial reporting, internal controls, and external auditor performance. The governance framework is further supported by a Compensation Committee and a Nominating and Corporate Governance Committee. A key feature of the ownership structure is the significant alignment with shareholders, as directors and executive officers as a group beneficially own, control, or direct approximately 40.77% of the total issued and outstanding common shares. This high level of insider ownership underscores a management philosophy deeply invested in the company's long-term success.

The organization's sustainability approach is distinguished by a pioneering Impact and Benefits Agreement, first established in 2020 and subsequently updated in 2022 and 2024. This agreement, the first of its kind in its primary operating jurisdiction, formalizes commitments to Indigenous partners regarding employment, contracting opportunities, skills training, and financial benefits, ensuring community support for responsible project advancement. Community engagement is further demonstrated by the 2025 formation of an Inter-Institutional working group involving host communities and other Indigenous organizations to facilitate ongoing dialogue. On the environmental front, the company submitted a comprehensive Environmental Impact Assessment in 2024 to advance permitting for the construction phase. A memorandum of understanding was also established with a state-owned utility for the future supply of low-cost, emission-free hydroelectric power, highlighting a commitment to reducing the project's carbon footprint.

The corporate structure includes a 60% interest in a joint-venture project with a subsidiary of Teck Resources. In late 2023, the company entered into a significant financing and offtake arrangement with entities managed by Orion Mine Finance Management LP. This agreement includes senior secured debt and provides Orion with offtake rights for 20% of future metals production for a 20-year period, subject to certain conditions. A key operating subsidiary is held within a guarantee trust structure as a condition of a credit agreement. In 2024, a proposed C$130 million private placement with an affiliate of Zijin Mining Group Co., Ltd. was announced but subsequently terminated. The company completed a corporate "Emigration" by early 2025, which involved closing its Canadian offices and ensuring no individuals are employed in connection with the company in that country, representing a significant shift in its corporate footprint and operational oversight.