Solaris Resources - June 2024 - FINAL-Public.pdf

Copper Growth and Discovery in the Americas
Corporate Presentation
June 2024
World’s Greatest Explorer
Our Discoveries Honor His Legacy
TSX: SLS; NYSE: SLSR

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Forward-Looking and Cautionary Statements
This presentation does not constitute an offering of securities and the information contained herein is subject to the information contained in the Company's continuous disclosure documents. All amounts expressed in
Canadian $ unless otherwise stipulated.
Forward-looking Statements
This presentation includes certain statements that constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking
statements"). All statements, other than statements of historical fact, are forward-looking statements. These statements appear in a number of places in this presentation and include statements made with respect to
anticipated exploration and development activities. When used in this presentation words such as "intends", "expects", "will be", "underway", "targeted", "planned", "objective", "expected", "potential", "continue",
"estimated", "would", "subject to" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements in this presentation include, but are not limited to: the impacts and
benefits of the Warintza Project; future updates to the mineral resource estimates of the Warintza Project; the completion of resource drilling, a pre-feasibility study and permitting at the Warintza Project; the
submission of an Environmental Impact Assessment; the Company’s entrance into an exploitation agreement and expected permitting completion; the expected spin-out of Solaris Exploration; sales of electronic
vehicles; battery prices; and the supply and demand of copper.
Although Solaris Resources Inc. (the "Company") believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since
the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking statements, including risks related to the business of the Company; global outbreaks and contagious diseases (including COVID-19); business and economic
conditions in the mining industry generally; the supply and demand for labour and other project inputs; adverse claims made by local communities; changes in commodity prices; unanticipated exploration and
development challenges (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); adverse weather conditions; political risk and
social unrest; changes in interest and currency exchange rates; and the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators.
These forward-looking statements were derived using numerous assumptions, including assumptions regarding general business and economic conditions the Company’s ability to develop and maintain relationships
with local communities (including the local Shuar Centres of Warints and Yawi); commodity prices; anticipated costs and expenditures; the Company’s ability to advance exploration efforts at Warintza and its other
projects; and the results of such exploration efforts. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking
statements speak only as of the date those statements are made. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking
statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any forward-looking
statements, no inference should be drawn that we will make additional updates with respect to other forward-looking statements. All forward-looking statements contained in this presentation are expressly qualified in
their entirety by this cautionary statement.
Technical Information
The technical information contained in this document related to the mineral resource estimate at Warintza was approved by, or based upon disclosure prepared by, Mario E. Rossi, FAusIMM,RM-SME, Principal
Geostatistician of Geosystems International Inc., a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“43-101”). See the corresponding technical report entitled
"NI 43-101 Technical Report for the Warintza Project, Ecuador (Amended)" with an effective date of April 1, 2022 and available on SEDAR+ under the Company's profile at www.sedarplus.ca. The remaining technical
information contained in this document has been reviewed and approved by Jorge Fierro, M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” as defined in NI 43-101. Jorge Fierro is a
Registered Professional Geologist through the SME (registered member #4279075).
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources
The mineral resource estimates described in this presentation have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. The terms
"mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in accordance with Canadian National Instrument 43 101— Standards of Disclosure for
Mineral Projects (“NI 43 101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as
amended. These definitions differ from the definitions in requirements under United States securities laws adopted by the United States Securities and Exchange Commission. Under Canadian rules, estimates of
inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is
economically or legally mineable. An “inferred mineral resource” is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.
Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and
must not be converted to a mineral reserve. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Investors are
cautioned not to assume that all or any part of mineral resources determined in accordance with NI 43-101 and CIM standards will qualify as, or be identical to, mineral resources estimated under the standards of the
SEC applicable to U.S. companies. Accordingly, information contained in this presentation may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure
requirements under the United States federal securities laws and the rules and regulations thereunder.

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Tamarugo
Ricardo
La Verde
Warintza
Peru JVs
Increasing leverage to
copper through resource
growth and discovery drilling
Global Scale Resource at
Flagship Warintza, Ecuador
579 Mt at 0.59% CuEq (Ind)¹
887 Mt at 0.47% CuEq (Inf)¹
> Resource update in July
World Class Mining
Destination
Excellent primary infrastructure
>highways, ports, power grid,
freely available fresh water, labor
Warintza Project| Investment Summary
Tax & Regulatory Stability
Investment Protection Agreement²
> Tax and regulatory freeze,
international guarantees
Social License
Impact & Benefits Agreement
> Community consent,
government endorsement
Differentiated
Expected project timeline
de-risked into structural
bull market in early 2026
Solaris is advancing a portfolio of copper assets in the Americas:
Funded Growth, De-Risking
Funded to 2026 in place
> EIA in H2/24 and PFS in H2/25
> Regional exploration
1. Indicated resources of 579 Mt of 0.59% CuEq (0.47% Cu, 0.03% Mo, 0.05g/t Au) and Inferred resources of 887 Mt of 0.47% CuEq (0.39% Cu, 0.01% Mo, 0.04g/t Au) - refer to NI 43-101
Technical Report entitled, “NI 43-101 Technical Report for the Warintza Project, Ecuador (Amended)” dated effective Apr 1, 2022 on the Company’s website and SEDAR+
2. See Company press release dated Dec 22, 2022

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Sector specialist management group, focused on base and precious metals
Niche world class exploration and development stage projects
Track record of creating value, with over $4.5B in exit transactions
Augusta Group | Track Record of Value Creation
Sold for $1.6B in 2011 Sold for $667M in 2014 Co-Founded in 2017;
$3.0B Market Cap
Sold for $2.1B in 2018
Past Returns
(12,960% return) (3,300% return) (6,100% return) (>1,900% return)
Note: The results for Ventana Gold Corp., Augusta Resource Corp., Equinox Gold. and Arizona Mining Inc. are independent of the results of Solaris Resources and are no guarantee of the future performance.
Undue reliance should not be placed thereon when considering an investment in Solaris.

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1. Capital structure and share distribution as at May 9, 2024 and includes additional shares from the US$80 million financing package and bought deal offering - See Company press releases dated
Dec 11, 2023, May 21, 2024 and June 10, 2024
2. Balance as at Mar 31, 2024 and includes additional proceeds from the US$80 million financing package and bought deal offering - See Company press releases dated Dec 11, 2023, May 21, 2024
and June 10, 2024
3. Dated as at June 13, 2024
Capital Structure
Summary
>$200M Invested by Management Targets at Multiple of Current Price
Cumulative Investment ($M)
Insider buying into 2024
Alignment with
shareholders
Culture of ownership with
entire management team
FY'20 FY'21 FY'22 FY'23
SLS¹
TSX
162M
Common S/O
4M
Options, ITM
166M
Diluted S/O, ITM
US$70M
Cash²
US$30M
Drawn Offtake Debt²
US$540M
Market Cap³
Exec. Chair
39%
BlackRock
9%
Lundins
5%
Lowell
2% Mgmt
6%
Float
39%
Share Distribution¹

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Richard Warke, Executive Chairman
Arizona Mining, Augusta Resource, Ventana Gold
Daniel Earle, President & CEO
TD Securities
Sunny Lowe, CFO
Kinross Gold, Inmet Mining
Javier Toro, COO
Hudbay, WSP, Newmont
Purni Parikh, SVP Corporate Affairs
Arizona Mining, Augusta Resource, Ventana Gold
Federico Velasquez, President Latin America
Equinox Gold, Anglo American
Jorge Fiero, VP Exploration
Equinox Gold, Lowell Copper, BHP
Jacqueline Wagenaar, VP Investor Relations
Guyana Goldfields
Tom Ladner, VP Legal
BLG LLP
Poonam Puri, Director
Davies Ward Phillips & Vineberg LLP
Donald Taylor, Director
Arizona Mining, BHP, Bear Creek
Kevin Thomson, Director
Barrick, Davies Ward Phillips & Vineberg LLP
Ron Walsh, Director
Walsh King LLP, Canadian Tax Foundation
Board & Management
Strategic Partners
Richard Warke
Richard Warke has led multiple successful mining
companies, including Ventana Gold (sold for $1.6B);
Augusta Resource (sold for $670M); Co-Founded to
form Equinox Gold ($3.0B Market Cap); and Arizona
Mining (sold for $2.5B).
Augusta Group
Mining sector-focused management group based in
Canada and the U.S. with an unrivaled track record
of value creation totaling over $4.5B in exit
transactions since 2011 and has strategic
partnerships with leading entrepreneurs in the
mining sector.
Leadership | Javier Toro to Lead Project Execution
Lundin Group
Lundin Group has led companies to numerous
discoveries and major transactions, including
Lundin Mining’s $3.3B merger with EuroZinc,
the $2.0B sale of Tanganyika Oil, and the $7.1B
sale of Red Back Mining.

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David Lowell made more discoveries of greater
consequence than anyone in history, with over a
dozen major discoveries, including the largest copper
mine in the world, La Escondida, which produced
~$10B of copper last year.
Assembled our pipeline of grassroots exploration
projects targeting future discoveries; programs led by
his protégé, Jorge Fierro, VP, Exploration.
Co-defined porphyry copper deposit model in 1970.
Direct application led to first discoveries (exposed
deposits); evolved technique for second wave
discoveries (obscured deposits); final evolution
targets blind discoveries.
El Teniente
Mirador, 2001
Pierina, 1996
Toromocho, 2005
Los Calatos, 1992
Maria Rosa, 1985
Leonor, 1989
San Cristobal, 1985
Zaldivar, 1981
Escondida, 1981
Bajo Alumbrera, 1968
Andina
Los Bronces
Los Pelambres
Radomiro Tomic
Spence
Chuquicamata
Collahuasi
Toquepala
Cerro Verde
Antamina
Warintza, 2000
Lowell Discoveries
Major Mines
Obscured Deposits (80-90s)
Partly covered by capping, cover,
e.g., La Escondida
Blind Deposits (2000-Future)
Completely covered or deep,
e.g., Tamarugo, Ricardo
Exposed Deposits (60-80s)
Alteration systems visible from air,
e.g., Bajo Alumbrera, San Cristobal
David Lowell | World’s Greatest Explorer (1928-2020)

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Ecuador | World Class Mining Destination
“We are going to promote
legal and responsible mining
to compensate for the gap in
the fiscal”
Daniel Noboa, President
FDN, Mirador enter production in 2019
Tier 1 Deposits
10 Years Continuous
Pro Mining Policy
Left, Right, Centrist governments supported mining
No history of tax hikes, mining bans
Security: Warintza far removed from
issues on coast and Colombian border;
no interruptions to mines in SE Ecuador
>crime rates down 80-90% since Jan
Impact & Benefits Agreement²
>Consent from communities, endorsed by government
Strong Community,
Govt Support
Rapid Permitting
Major projects generally permitted in 1 yr
>New govt KPI = US$ value of permits issued
Tax and regulatory freeze to 2066¹
International security guarantees
Investment
Protection
Agreement
Primary
Infrastructure
Highways, ports, power grid with renewable
energy, freely available fresh water, labor
US dollar, raw material export economy
FTAs with China, US and Canada in progress
USD Economy;
Free Trade
‘I have been able to verify
that [the Company] complies
with legal standards and
provides many benefits to
the population, [which] is
demonstrated through
the social documents
that certify its legality’
Vinicio Cóndor,
Governor of Morona Santiago
Fruta del Norte (Lundin Gold)
Mirador (ECSA)
1. See Company press release dated Dec 22, 2022
2. See Company press release dated Apr 17, 2024

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Responsible Mining | New Model for Ecuador
Warintza Success Story
World class discovery
by David Lowell in
2000, sat largely
dormant since 2001
due to a breakdown in
social acceptance from
local communities
Extensive dialogue led to
understanding root
causes of conflict,
resolution of underlying
issues mid-2019;
instituted an informed,
innovative CSR program
Government-Sponsored
Prior Consultation process
and signed Memorandum
of Understanding in 2019,
Impacts and Benefits
Agreement in 2020
(Updated April 2024)
Warintza Model
Inclusive development model
based on transparency, dialogue,
and trust relationship between
government, communities and
company with the objective of
sustainable socio-economic
development of community and
people together with project
“The people of Limón Indanza
benefit the most with jobs and as
suppliers of the Warintza Project.
We will work on a plan so that the
people of Limón continue to benefit
from the responsible use of our
natural resources.”
Antonio Castillo Orellana,
Mayor of Limón
‘The IBA brings greater opportunities for
the development of our communities,
supported by a permanent relationship
based on mutual respect, transparent
dialogue, and a history of positive impacts.
We look forward to continuing our
relationship and playing an integral role in
the advancement of the Project.’
Mr. Agustin Kayuk,
Leader of Shuar Warints Center and
Board member of the Strategic Alliance
Strategic Alliance governed by Board
of Directors from host Shuar Centres;
community development alongside
project, with investments in health,
education, training, infrastructure,
environment, entrepreneurship,
gender equality, labor, cultural and
human rights and security
“We reject the false statements made by
foreign NGOs and the PSHA which ignore our
voice and speak against our interests.
We are the legitimate registered owners of the
Ancestral Lands on which Warintza resides and
we have chosen, through our General
Assembly, to participate through our Strategic
Alliance and Impact and Benefits Agreement.”
Froilan Juank,
President of Yawi Center and member
of the Strategic Alliance

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Warintza Community
Population
Number
Community
600
Warints
200
Yawi
800
Total
Direct Community
Employment
Number
Community
195
Warints, Yawi
245
Amazonia sector
60
Resto del país
500
Total
Responsible Mining | Community Partnership
Community involvement
at each step, enhanced
with capacity-building
program
Maximizing community involvement
Innovative approach:
commitment to
transparency,
education & inclusion
Government & community
understanding of impacts
and benefits of project
Over 525 indirect
service providers
Vicente Tsakimp, Coordinator
Warintza Project Strategic Alliance
“We are excited to be part of the successful
advancement of Warintza and show the industry
that it is possible to develop a mining project in a
responsible and inclusive way.
The people of Warints and Yawi welcome the
development of remote communities as this has
had a direct impact on our families’ economy,
living conditions and opportunities.”

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Warintza| Comprehensive CSR Programs
In
Ecuador
to have:
Completed
three Community
Consultations
Signed Inaugural
Impact and Benefits
Agreement
in 2020
(Updated 2024)
Committed to
national
Zero Carbon
Program
since 2021
Developed
framework with the
Government of
Ecuador for
Formalization of
Artisanal Mining
Environmental
Responsibility and
Stewardship Programs
• First Company to
participate in Ecuador’s
Zero Carbon Program
• Environmental
management plan and
community engagement
• Capacity building/
training/workshops for
environmental
stewardships
Education Initiatives
 Financial education
workshops
 Capacity skills training
 Post secondary
scholarships &
internship program
• Community educational
centres
• Dental hygiene campaign
• Vaccination program
Local Entrepreneurship
and Innovation Programs
 Full employment
achieved with Shuar
Centres of Warints &
Yawi and surrounding
communities
 Training and workshops
on leadership, corporate
entrepreneurship,
mining easement and
governance
Gender Equity and Female
Empowerment Initiatives
• Women’s Empowerment
Principles – Signed
principles and
committed to
implementation
• Scholarship Program ‘Soy
Minera’ – Developed in
coordination with
Women in Mining
Ecuador.
• Entrepreneurship
programs
Investment in Community
Health and Wellbeing
Initiatives
• Sports program
• Recreational
infrastructure
Warintza
Green
Warintza
Education
Warintza
Entrepreneur
Warintza
Gender Equality
Warintza
Sports

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Ecuador Panama Peru Chile USA
Mining District | Primary Infrastructure
Access to grid power,
adjacent Santiago
development
Natural, Primary Infrastructure
1. See Company press release dated March 21, 2022
2. Source: Scotiabank GBM estimates. Ecuador capital intensity results are independent of the results of Solaris Resources. Readers should not infer that Solaris Resources will obtain similar
results at its own property. The Company has not completed an economic assessment at the Warintza Project.
268km2 property,
100%-owned;
40km north of
Mirador mine
Access road to highway
connecting Pacific ports,
transmission lines, airport,
skilled labor, fresh water
MOU signed for
100% supply of
hydroelectric power¹
Capital Intensity²
$/tpa CuEq
$/tpa
>$11,000
>$60
>$20,000
>$80
>$25,000
>$120
>$34,000
>$170
>$35,000
>$140
Low-Cost Factors:
100% Interest,
Low Tax Country
Existing
Infrastructure
Low Elevation
Fresh Water
Low-Cost Labor
Low-Cost Power
Low-Cost Diesel
High-Cost Factors:
Govt carried %,
high taxes / NSRs
No Infrastructure,
High Elevation
High-Cost Labor,
Power and Water
Complex Met,
Arsenic Issues
High Strip/Low
Grades at Surface
Block Caving

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Capital Intensity| Key Metric that Will Shape the Cycle
1. Source: Scotiabank GBM estimates, Analysis excludes acquisition costs and pre-sanctioning expenditures. Commodity Markets Are Tighter Than You Think, January 2023, Company reports.
2. Source: Wood Mackenzie. Includes greenfield projects only. Excludes projects using the solvent extraction and electrowinning method of production. Bubble size refers to life of mine average
copper equivalent production. Weighted by life of mine average copper equivalent production.
3. Mirador capital intensity results in Ecuador are independent of the results of Solaris Resources. Readers should not infer that Solaris Resources will obtain similar results at its own property.
The Company has not completed an economic assessment at the Warintza Project.
4. Ecuador capital intensity results are independent of the results of Solaris Resources. Readers should not infer that Solaris Resources will obtain similar results at its own property. The
Company has not completed an economic assessment at the Warintza Project.
2025
Ecuador, >15% IRR at $3.00 Cu³
Increasing Capital Intensity of Greenfield Open Pit Copper Projects and Long-Term Incentive Pricing Implications¹ ²
2001 to 2010 ~US$7k/t
$2.50 Cu for 15% IRR
Recent Projects >US$25k/t
2011 to 2020 ~US$18k/t
2030
US$/t CuEq
50,000
40,000
30,000
20,000
10,000
2020
2015
2010
2005
2000
,
Projects not viable >US$20k/t at $4.00 Cu
Peru, $4.75 Cu for 15% IRR
Chile, $6.00 Cu for 15% IRR
US$60B Capital
Allocated to
Supply Growth
US$30B Capital
Allocation, and
Declining in Future

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2022 Resource Estimate | Update Coming in July
Warintza Mineral Resource
Contained Metal
Grade
Tonnes
Category
Au
(Moz)
Mo
(Mt)
Cu
(Mt)
CuEq
(Mt)
Au
(g/t)
Mo
(%)
Cu
(%)
CuEq
(%)
(Mt)
0.93
0.15
2.70
3.45
0.05
0.03
0.47
0.59
579
Indicated
1.08
0.13
3.48
4.17
0.04
0.01
0.39
0.47
887
Inferred
2.01
0.28
6.18
7.61
0.04
0.02
0.42
0.52
1,466
Notes:
1. Mineral Resources have an effective date of April 1, 2022.
2. The mineral resource estimates are reported in accordance with the CIM Definition Standards for Mineral Resources & Mineral Reserves.
3. Reasonable prospects for eventual economic extraction assume open-pit mining with conventional flotation processing and were tested
using NPV Scheduler pit optimization software with the following assumptions: metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and
US$1,500/oz Au; operating costs of US$1.50/t + US$0.02/t per bench for mining, US$4.50/t milling, US$0.90/t G&A; recoveries of 90% Cu,
85% Mo, and 70% Au.
4. Cut-off grade of 0.3% CuEq. Resource includes grade capping and internal dilution. Grade was interpolated by ordinary kriging populating
a block model with block dimensions of 25m x 25m x 15m.
5. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
6. Copper equivalent assumes recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical test work, and metal prices
of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au. CuEq formula: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t).
7. Qualified Person is Mario E. Rossi, FAusIMM,RM-SME, Principal Geostatistician of Geosystems International Inc.
8. All figures are rounded to reflect the relative accuracy of the estimate.
Coarse grind, rapid flotation,
low reagent consumption
High recoveries for copper, molybdenum
High copper and moly concentrates,
free of arsenic and penalty elements
No oxide/transitional materials,
No high sulphidation overprint
Simple Metallurgy
Global Scale Resource
579 Mt at 0.59% CuEq (Indicated)¹
887 Mt at 0.47% CuEq (Inferred)¹
1. Indicated resources of 579 Mt of 0.59% CuEq (0.47% Cu, 0.03% Mo, 0.05g/t Au) and Inferred resources of 887 Mt of 0.47% CuEq (0.39% Cu, 0.01% Mo, 0.04g/t Au) - refer to NI 43-101 Technical
Report entitled, “NI 43-101 Technical Report for the Warintza Project, Ecuador (Amended)” dated effective Apr 1, 2022 on the Company’s website and SEDAR+

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District Potential | Warintza Cluster and District
Note: San-Carlos-Panantza are independent of Solaris and are no guarantee of the future performance of Solaris projects and no inference can be made of mineral resources or reserves from adjacent deposits
1. 686m of 0.46% CuEq (0.37% Cu, 0.02% Mo, 0.03 g/t Au) - refer to Company press release dated Oct 13, 2022
2. 606m of 0.41% CuEq (0.32% Cu, 0.02% Mo, 0.02g/t Au) – refer to Company press release dated Jan 18, 2022
3. 148m of 0.52% CuEq (0.38% Cu, 0.02% Mo, 0.09g/t Au) – refer to Company press release dated Sep 12, 2023
Resources
Existing Resource
2022 MRE
July
2024 MRE
East
Southeast
West
WARINTZA
CLUSTER
Central
Mateo
Caya
Maiki
Santiago Hydroelectric
WARINTZA CLUSTER
CLEMENTE
Solaris Discoveries
686m of 0.46% CuEq¹
West
606m of 0.41% CuEq²
South
148m of 0.52% CuEq³
Patrimonio
Targets
Caya, Mateo
Medio Camino
Clemente
2022 MRE
2024 MRE
Anticipated
Patrimonio
South
Potential Future
Growth
Medio
Camino West
South
Patrimonio
Central East
Southeast

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District | Government Awards Key Concessions to Consolidate District
Government awarded option agreement over ~40,000ha to consolidate district opportunity
Targets developed from multi-layered data analysis
Porphyry copper potential with geophysical signature supported by geochemistry
Epithermal gold potential within pull-apart basins that host Lundin Gold’s FDN in the same belt to the south
Fieldwork commenced in May
1. See Company press release dated Apr 30, 2024

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Caya | Epithermal System Related to Porphyries
Alteration minerals
Potential mineralized zone
Quartz-alunite
Dickite
Kaolinite – high crystallinity
Kaolinite – lower crystallinity
Adularia
Illite
Illite-smectite
Chlorite
A
A
1. See Company press releases dated Apr 30, 2024 and June 11, 2024.

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Project Timeline| Near Term Growth & Derisking
 MOU with communities
for re-start of exploration
Inherited MRE (Inf)
(6.6km, 33 holes)
124 Mt of 0.70% CuEq¹
Updated MRE (Ind & Inf)
(65km, 99 holes)
579 Mt at 0.59% CuEq (Ind)²
887 Mt at 0.47% CuEq (Inf)²
Updated MRE
(>100km Drilling)
Due July
 IBA with communities
 EIA for Exploration
 Environmental Consultation
 Exploration License
 IPA with government
 Proven COO Appointed
 NYSE Listing
 IBA Updated
 Drilling ramping up
 Regional Exploration
 MRE Update (July)
 IPA Update
 EIA for Exploitation
Expected (H2/24)
Formation
of
Solaris
Resources
Inc.
in
2019
and
start
of
trading
mid-2020
Expected PFS Completion
H2/25
2019 2022 2024 2025³
Project Execution
Funded to 2026
Expected Exploitation Agreement
H2/25
Expected Permitting Completion
Early 2026
Expected Timeline for Rare
Global Scale Project De-Risked
Into Structural Bull Market
1. Inferred resources of 124 Mt of 0.70% CuEq (0.56% Cu, 0.03% Mo, 0.1 g/t Au) - refer to NI 43-101 Technical Report dated Dec 13, 2019 on SEDAR+
2. Indicated resources of 579 Mt of 0.59% CuEq (0.47% Cu, 0.03% Mo, 0.05g/t Au) and Inferred resources of 887 Mt of 0.47% CuEq (0.39% Cu, 0.01% Mo, 0.04g/t Au) - refer to NI 43-101
Technical Report entitled, “NI 43-101 Technical Report for the Warintza Project, Ecuador (Amended)” dated effective Apr 1, 2022 on the Company’s website and SEDAR+
3. 2025/2026 PFS completion, exploitation agreement, and permitting completion timelines are Company guidance purposes only and are no guarantee of future performance or delivery of a
development opportunity

19
0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6
Capstone - 30% Santo Domingo (KORES)
South32 - 45% Sierra Gorda (Sumitomo)
Capstone - Mantos Copper
Evolution Mining - Ernest Henry (Glencore)
Lundin Mining - Josemaria
Metals Acquisition - CSA Copper Mine (Glencore)
Glencore - 18.75% MARA (Newmont)
Agnico Eagle - San Nicolás JV (Teck)
Rio Tinto - Turquoise Hill
Solgold - Cornerstone
Harmony Gold - Eva (Copper Mountain)
BHP - OZ Minerals
Lundin Mining - 51% Caserones (JX Nippon)
Hudbay - Copper Mountain
Glencore - 56.25% MARA (Pan American)
MMG - Khoemacau (GNRI)
UAE - Mopani (ZCCM)
Evolution - 80% Northparkes (CMOC)
JCHX - 80% Lubambe (LCML)
Zijin - La Arena (Pan American)
BHP - Anglo American
Copper | M&A Transaction Precedents
Developer
Producer
1.0x
Producers
0.8x
Developers
$0.5B
$1.1B
$1.9B
$0.5B
$0.6B
$1.0B
$6.9B
$0.2B
$0.1B
$4.4B
$0.2B
$0.1B
$1.1B
$0.5B
$0.7B
$1.3B
$2.0B
$0.1B
$0.9B
$0.3B
$49B
Note: Results are independent of Solaris Resources. Readers should not infer that Solaris Resources will obtain similar results at its own property.
Source: BMO Capital Markets, Bloomberg, company filings, FactSet, street research,. Transactions greater than US$50 mm since January 2021 shown.
1. UAE’s International Resources Holdings (IRH) selected as new strategic equity partner and expected to reset Glencore’s US$1.5B position – Reuters, Dec 1, 2023

20
Catalysts| Growth and De-Risking
EIA Completion – H2/24
Solaris Exploration Spin-Out on Potential Transaction
Drilling and Regional Exploration Ongoing
Expected PFS and Exploitation Agreement – H2/25
Investment Protection Agreement Update
Mineral Resource Estimate Update – July
Expected Permitting Completion – Early 2026

22
Dearth of Discoveries Leaves Pipeline Empty
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
0
20
40
60
80
100
120
140
160
Copper
Exploration
Budget
(US$M)
Copper
in
Major
Discoveries
(Mt)
Copper in reserves, resources & past production* Copper in recent initial resources Copper exploration budget
2010: Muji,
2011: Cobre Panama, Timok, Cerro Negro, etc.
2012: Copa Sur
2013: Cascabel, Onto, Calingiri, West Musgrave
2014: Kamoa-Kakula, La Huifa, Jebel Ohier
2015: Cachorro
2016: Marimaca, Encierro
2017: Tatogga, Winu, Kainantu
2018: -
2019: Llaguen
2020: Porvenir, Julimar
2021: Chapada
2022: -
Source: 2023 S&P Global Market Intelligence
4.1 Mt Cu discovered
in past 5 years —
huge fall from
70.6 Mt in 2013–17

23
Citi: Cautious for 2H’23, Extremely Bullish Once Growth Fears Subside
Amount of capital it takes for speculative capital to offset a physical surplus
equal to 1% of consumption is only ~$2bn in copper,
compared to $27bn in oil
Source: Citi Research, Commodities Strategy, Copper Book 2023 Update –The Energy Transition Bull Trade, July 24, 2023
Copper spec volatility relative to market size is 10-15x oil!
Copper positioning – cyclical plus decarbonisation-related could see
copper rise to ~4 Mt in 2025, double their prior highs
Potential scale of increase in positioning would dwarf the physical market
balances and could easily see prices reach $12-15k/t during 2025

24
Copper Outlook: Supply Growth Constrained
Source:
1. Glencore Investor Update, December 6, 2022
2. Scotiabank GBM estimates, Commodity Markets Are Tighter Than You Think, January 2023
7
10
13 13 14
25
32 32
27
18
10 10
15
18 19 18 19 18 16
12
Copper Industry Expansionary Capex (US$B)¹
Copper Price ($/lb)
Long-term incentive
price has moved up $5.00
$4.75
$4.50
$4.25
$4.00
$3.75
$3.50
24%
22%
21%
19%
17%
16%
14%
$16,000
Capex
Intensity
($/tonne)
22%
20%
19%
17%
16%
14%
12%
$18,000
20%
18%
17%
16%
14%
13%
11%
$20,000
18%
17%
16%
14%
13%
11%
10%
$22,000
17%
16%
14%
13%
12%
10%
9%
$24,000
16%
14%
13%
12%
11%
10%
8%
$26,000
Copper Project IRRs By Capital Intensity²
Note: Analysis assumed an average operating cash cost of $1.35/lb and an effective tax rate of 40%. Based on ~20-year mine life.

25
EV Sales Slowing Narrative Misleading
Source:
1. BloombergNEF
2. Goldman Sachs
EV sales to increase 21% in 2024 to 16.7 million¹
EV sales up strongly in 2023 in all regions¹:
China +40%
Europe +26%
North America +78%
Global +33%
Sales growth/rate of change expected to slow with cyclical slowdown caused by high
rates, lower real disposable income, lower consumer confidence, etc.
Outlook promising
Battery prices to fall 40% by 2025²
Cost-parity to ICE vehicles in China already, globally by 2025 without subsidies²
Technological solutions to remaining major impediments to consumer adoption
(recharge, range, longevity)
For example, CATL Qilin battery enters mass production 2023 with ~1,000km range, first
semi-solid state and sodium ion batteries in mass production 2024
EV Sales by Year and Region¹
China
Europe
North America
Rest of World
4e
TL0

TL0 Can we add dates on references globally?
Tom Ladner, 2024-06-13T19:00:01.063

26
Record Size Structural Deficits Fast Approaching
Source:
1. Goldman Sachs, How Low Can We Go, July 2022
2. S&P Global, The Future of Copper, July 2022
Projected deficit:
2030: 7.6 Mt¹
2035: 9.9 Mt²
New discoveries now would not reach
production until mid-2030s; lead times
for projects lengthening due to social
and regulatory risks
Peak copper supply in 2024 as top 10 global mega
mines (25% supply) begin terminal decline due to
grades, depletion, water, and other constraints
S&P estimates copper demand will
double to over 50 Mt by 2050
Discovery
Exploration & Definition Feasibility, Permitting, Financing Construction Operation
Pre-Discovery Exploration
Rapid growth from copper-intensive energy transition applications
(power grid, renewables, EVs, charging network, batteries) on top
of steady 2.4% p.a. growth from traditional end uses

Solaris Resources - June 2024 - FINAL-Public.pdf

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