Sept 17 Luncheon Topic: Copper

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Seating is limited to 40, so you must register for this luncheon if you wish to attend.

Solaris Resources (SLSR) is hosting the luncheon, which will be held at The Ballroom at Tanglewood, 5430 Westheimer Road, Houston

Notes below are from Brisco Capital, which brought us Hemisphere Energy (HMENF) and InPlay Oil (IPOOF)

Solaris Resources Inc. (TSX: SLS)(NYSE: SLSR) is a very undervalued global scale copper project in Ecuador. Earlier this year, SLSR came under pressure due to the overhang of Canadian regulatory review of a proposed US$100 million financing with the Chinese mining company, Zijin, which SLSR later cancelled and replaced due to the lengthy and uncertain approval process. This uncertainty contributed to SLSR not participating in the prior copper price run up but is now participating in the recent downside of the commodity price.

Executive Chairman, Richard Warke, is the largest shareholder (~40%) & part of the Fenway Sports Group, which owns a portion of the Pittsburgh Penguins, Liverpool Soccer Club & the Boston Red Sox. This team excels in finding large-scale, world-class deposits and monetizing them with US$4.5 Billion in exit transactions in the last dozen years.

Solaris Resources’ most recently upgraded resource, see attached, is in close proximity to the Fruta del Norte gold mine owned by the Ludin family. The Lundin family are shareholders in SLSR at ~5%.

We are coming into a very opportune time to look at this asset which is at a very low equity price.
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Speaker: Arun Lamba, VP Corporate Development

-Recently joined Solaris from TD Cowen, where he was a Senior Mining Analyst covering the Company with a C$14 target price < SLS.TO is currently trading at $2.95Cdn.
-15 years’ experience in financial services and capital markets covering the mining sector, covering projects from early-stage exploration through feasibility and construction to production in both base and precious metals

Solaris Resources (TSX: SLS, NYSE: SLSR), US$350 M market cap
-Portfolio of copper growth projects in the Americas

Flagship Asset is the Warintza Project, Ecuador
-Differentiated by global scale, low capital intensity and near-term completion of permitting
-Open-pit mine that is in a low-cost mining district, adjacent to infrastructure, with strong community & government support
-Global scale resource of 2.3 Bt @ 0.43% CuEq (includes high grade of 0.6 Bt @ 0.68% CuEq) and growing
-Solaris is Funded for 2024 and 2025 programs

Ecuador and Project De-Risking over the last 18 months
-10 years continuous pro-mining policy
-Primary infrastructure, low elevation saves billions in capex
-Investment Contract with Gov’t provides regulatory & fiscal stability to 2041 (renewable to 2066)
-Impact & Benefits Agreement with communities signed April 2024, endorsed by government

Catalysts for share price appreciation:
-Resource Drilling & District Exploration Targeting New Discoveries - Ongoing
-EIA Submission for Exploitation - H2/24
-PFS & Exploitation Agreement Completion – H2/25
-Permitting Completion - 2026

Unique Value Opportunity
-Warintza is one of the best copper development projects available globally given its scale, grade, low strip, low elevation, and access to infrastructure
-Analyst consensus NAV of US$4 B (8% DR and $3.75/lb copper) < Copper price today is over $4.00/lb
-0.2x P/NAV @ US$350 M market cap vs. Peers up to US$2.5 B market cap