Solis Announces Additional High-Grade Copper Confirmed at Cinto, Peru

Newsfile Corp.

Tue, Apr 22, 2025, 5:51 PM 26 min read

Results indicate porphyry copper mineralisation of various styles across a potential area 3km long and 0.75km wide.
Induced-Polarisation (IP) survey planning underway to support drill target definition.
Permitting initiated for drilling at Cinto in second half of 2025.
Solis Minerals considers copper mineralisation at Cinto consistent with nearby Toquepala (one of Peru's largest copper mines with 2.1Bt @ 0.47% Cu - 200ktpa Cu production)².

West Leederville, Western Australia--(Newsfile Corp. - April 22, 2025) - Latin American focused copper-gold explorer Solis Minerals Limited (ASX: SLM) ("Solis Minerals" or the "Company") is pleased to announce an update on copper mineralisation identified in channel samples at the Cinto Project in Peru.

Chief Executive Officer, Mitch Thomas, commented:

"These results confirm the significant potential at the Cinto Project, where we've substantially expanded Solis' porphyry copper mineralisation footprint. Notably, we're seeing mineralisation styles similar to those at the major Toquepala mine, just 15km away. Geophysical data from drone magnetometry supports scale potential and highlights new target areas. As a stand-alone project, Cinto is a compelling copper porphyry target.

Our on-ground team recently hosted site visits for our technical director Mike Parker and myself across our project portfolio. Visible mineralisation at surface at Ilo Este and Cinto was a highlight. The clear, visible prospectivity in our projects very much aligns with our objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world's leading copper producing regions.

With drilling set to begin at Chancho al Palo³ and Ilo Este this quarter, and Cinto advancing toward drilling in the second half of 2025, Solis Minerals' portfolio of 100% owned projects has incredible potential for discovery of multiple copper-gold resources capable of supporting mining operations."

Summary

Exploration results at Cinto from channel sampling (Table 1) show a continuation of the mineralised breccia zones previously announced on 11 February 2025. A new channel, Channel 11, situated between previously reported Channels 7 and 8, reported 26.5m @ 0.28% Cu, including 5.39m @ 1.0% Cu.

The copper mineralisation encountered at Cinto to date is predominantly in breccias, the major mineralisation host at Toquepala, 15km northwest of Cinto. Four mineralisation types have been identified in distinct zones. Cinto is situated on the major Incapuquio Fault System which favoured the emplacement of intrusions related to large-scale porphyry copper deposits of Toquepala, Quellaveco, and Cuajone (Figure 1). Toquepala is one of Peru's oldest and largest copper producers (200ktpa copper production).

Figure 1: Cinto tenements and neigbouring Toquepala operation and peer concession holders.

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Cinto Project

The Cinto Project consists of six granted tenements totalling 2,700Ha and five applications totalling 2,800Ha in the highly prospective Cenozoic Porphyry Belt of southern Peru, located some 15km to the southeast of the world class Toquepala Copper Mine (Figure 1). Cinto is geologically distinct from the rest of Solis' tenements which are situated in the older Jurassic-Cretaceous Coastal Belt of Peru (Figure 2).

Figure 2: Solis' tenements in the Coastal and Cenozoic (Paleocene-Eocene) Belts with existing deposits and regional geology shown. Note new permit applications made north of Cinto in January 2025.

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In addition to the rock geochemistry results reported on February 11, 2025, further results of rock and channel geochemistry sampling programs carried out at Cinto in the first quarter of 2025 continue to yield highly encouraging results that confirm porphyry mineralisation over a broad area. Rock samples were collected from outcrops of interest or on a sampling grid, whilst channel samples were continuous samples taken across zones of outcropping mineralisation, usually related to old workings or eroded gullies.

Channels 11 and 12 were sampled in an eroded gully zone between previously reported Channels 7, 8, and 9. Channel 11, situated between previously reported Channels 7 and 8, reported 26.5m @ 0.28% Cu, including 5.39m at 1.0% Cu and 7.19m @ 0.2% Cu (Table 1). Channel 12, a continuation of Channel 11 between previously reported Channels 8 and 9, reported no significant copper mineralisation due to partial cover with barren volcanics.

Field observations at the site of Channels 7-9, and 11-12 (this release), show that the intrusive hydrothermal breccia is massive in nature with undefined limits due to poor exposure. The channel sample results therefore do not represent a true width of mineralisation.

A strong correlation is identified between copper mineralisation defined in the geochemical program and previously reported magnetic low geophysical anomalies⁴ (Figure 4). In the northeast of the licence, all channel samples and the majority of copper-anomalous rock samples fall within a magnetic low of dimensions 3km x 0.75km with the low core having a surface area of 1.75km² creating scope for scale. This magnetic low anomaly is interpreted as being caused by magnetite destruction, a common occurrence in porphyry deposits where late-stage mineralising fluids react with magnetic minerals in a host rock, altering them to non-magnetic mineral species.

Figure 3: Solis Minerals' exploration team and CEO Mitch Thomas with Technical Director Mike Parker during a site visit in April 2025, which included a visit to Cinto, Ilo Este and Chancho al Palo.

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Figure 4: Intrusive hydrothermal breccia with angular, poorly sorted volcanic clasts and a quartz breccia matrix with Cu oxides. Channel 11. Sample 18621 - 335710E, 8079715N. Assays 0,011g/t Au, 1.4g/t Ag, 0.22% Cu.

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Previous Exploration

Prior to Solis Minerals acquiring the Cinto tenements, limited systematic exploration had been completed and there are no records of previous drill programs. Solis Minerals commenced exploration with a WorldView-3 remote sensing survey, followed up by geological mapping. In 2023 and 2024, reconnaissance rock sampling led to the identification of an area of in-situ copper oxide mineralisation in old workings in the northeast of the property. Solis Minerals completed a drone magnetometry survey that identified areas of low magnetic response coincident and extending beyond the reconnaissance mineralisation⁴. Rock and channel sampling was expanded in late 2024 with some 530 samples taken in total. Previous exploration results are summarised in Figures 5 and 6.

Figure 5: Previous exploration at Cinto: Total Field magnetic data (high magnetic response in red, low response in blue) overlaid by WorldView-3 alteration suites and geology/structure. "Cu" marks zone of high-grade copper oxide samples from old workings, the original reconnaissance site sampled 1H 2024.

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Figure 6: Cinto locality map of channel sampling areas underlain by total field drone magnetometry. Note that the channel sampling is located in zones of low magnetic response (blue-green colours) indicating hydrothermal alteration. The magnetometry is a valuable guide for exploration at Cinto.

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Cinto Structural Setting

Cinto sits astride or just south of the regional transcurrent Incapuquio Fault System (Figures 1 & 6). The fault's corridor of influence includes en echelon faults, and subparallel fault structures. In the Cinto area, the fault corridor has an approximate width of 2.5km across its predominant NW-SE strike direction. This fault system is believed to have influenced the emplacement of Late Cretaceous to Early Palaeogene (Cenozoic) granodioritic, dioritic, and monzonitic intrusions as well as related volcanic rocks of the Toquepala Group⁵. The large-scale copper porphyry deposits of Cuajone, Quellaveco, and Toquepala were formed during this intrusive phase (Figure 2) and are associated with, or emplaced within, volcanics of the Toquepala Group.

Cinto Geochemical Sampling 2025

During Q1 2025, 125 rock samples were collected (Tables 1-4). Of these, 102 were outcrop rock samples and 23 were channel samples from 2 separate channels. Channel sampling was carried out in an area of good to continuous outcrop, principally facilitated by gully erosion. The Q1 2025 program complements the 2023/2024² geochemistry and brings the total rock sampling inventory at Cinto to 655 samples.

The 23 channel sample results from the Q1 2025 program are summarised in Table 1 with details in Table 3, Appendix 1.

Table 1: Summary of channel sample geochemical assay results from Cinto Project. Zones highlighted in bold are >0.5% Cu. True length is calculated taking into account the linearity of the sampling line. Sampling was done in an area of poorly constrained massive breccia outcrop and does not reflect true width. For location coordinates of channel samples and all assays, refer Table 3, Appendix 1.

Channel Sample Number	From (m)	To (m)	Sampled length (m)	True length (m)	Au (ppm)	Ag (ppm)	Cu (%)	Mo (ppm)	Pb (ppm)	Zn (ppm)
Channel 11	0.00	29.50	29.50	26.50	0.012	2	0.28	1.0	93	295
Including	0.00	6.00	6.00	5.39	0.042	6	1.00	1.0	141	530
Including	10.00	18.00	8.00	7.19	0.007	1	0.20	1.0	149	317
Channel 12	0.00	16.00	16.00	13.70	0.003	0	0.01	1.0	49	146

Additionally, 102 rock outcrop samples were analysed. Of these, 62 samples were collected on an approximate 50 x 100m grid over an area of 0.4km2 in the north-east of the Cinto tenements. The remaining 40 samples were collected on an approximate 200 x 200m grid over two areas totalling 1.8km2 in the north-central area of the tenements. The results from these samples (Table 2, Table 4, Appendix 1) show a correlation of copper mineralisation with alteration (low magnetic response areas) around structures (Figure 7). Table 2 shows the highest Cu assays returned in rocks (does not include channel samples) and their geological context.

Table 2: Cinto rock samples geochemical assays reporting >0.25% Cu (5 out of 102 samples). Note predominance of breccia (Type A) mineralisation.

Sample Number	East Coord	North Coord	Elevation (m)	Au (ppm)	Ag (ppm)	Cu (%)	Mo (ppm)	Pb (ppm)	Zn (ppm)	Description	Type
18638	335602	8079445	2274	0.077	1.4	1.51	1	166	247	Intrusive Hydrothermal Breccia	A
18588	335723	8079373	2268	0.007	0.5	0.80	3	36	130	Microdiorite - chlorite+quartz	C
18639	335646	8079441	2274	0.036	5.0	0.60	1	134	306	Intrusive Hydrothermal Breccia	A
18596	335784	8079754	2253	0.003	3.0	0.48	1	909	767	Intrusive Hydrothermal Breccia	A
18599	335595	8079444	2272	0.005	0.5	0.29	1	151	155	Intrusive Hydrothermal Breccia	A

Cinto Mineralisation Style

Increased mapping and additional sampling in the north-east of the Cinto tenements has identified four porphyry mineralisation styles to date, namely:

- Brecciated andesitic tuffs associated with or invaded by intrusive hydrothermal breccias (Type A);

- Intrusive hydrothermal breccias (Type B);

- Dioritic and monzodioritic intrusions, often with propylitic or argillic alteration (Type C);

- Granodioritic batholith, commonly with chlorite (Type D)

The mineralisation styles are distributed from west to east across the area with Types A and B dominating in higher topographic zones, leading to Type C in fault valleys formed by the Incapuquio Fault, and Type D furthest east in exposed batholith (Figure 8). The position of the mineralisation in the system is high-level (A+B), mid-level (C), to basal (D).

The general geology of the area consists of Toquepala Group volcanic rocks that are coeval (contemporaneous) with porphyry formation and emplacement. Porphyry mineralisation can be assumed to be emplaced into the base of the volcanics at various levels facilitated by the Incapuquio Fault system or its splays. Cover rocks consist of barren Toquepala Group volcanics, often andestic tuffs. Erosion and structural displacement has created a configuration of shallow to deeper mineralisation styles from west to east (A to D) as shown in Figure 8.

Gullies that cut through barren tuffs have locally exposed some high-level mineralisation (igneous hydrothermal breccias and volcanics, Type B and A). Type C, mid-level, intrusive mineralisation appears to be outcropping or in deeply incised areas. Barren tuffs cover much of the area, as reflected in the rock geochemistry program. Isolated basal-type mineralisation in the batholith (Type D) is found in the east of the area in deeply eroded terrain, upthrown, north of a major Incapuquio fault valley. Irrespective of mineralisation type, magnetic lows largely encompass mineralised areas as previously described. Whilst no continuity is currently established, the size of the various mineralisation zones in discontinuous outcrop is commonly up to 500m in length and of unknown width.

Figure 7: Cu anomalies from all rock sample assays to date, centred around structures with hydrothermal alteration. "X" and "Y" represent prospective areas of low magnetic response yet to be evaluated.

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Figure 8: Mineralisation styles at Cinto overlaid on total magnetic field. Mineralisation is shallower (higher placed) from west to east (styles A-C). Style D is basal in granodiorites.

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In the area of Channel Samples 1-4 (Figure 6), the mineralisation is localised in intrusive hydrothermal breccias (Type B) that are associated with quartz veining forming as a matrix in grossly brecciated and phylically altered units (Type A). Copper oxides are visible in the quartz veining and replacing tuffs in patches. Millimetric size clasts and textures in the veins and wallrocks are characteristic of intrusive hydrothermal breccias.

In the areas of Channel Samples 6-12 (Figure 6), the mineralisation occurs in intrusive hydrothermal breccias (Type B) that have impacted andesitic tuffs of the Toquepala Group. Brecciation consists of quartz veining that separates and cross-cuts angular tuff clasts of roughly 2-10cm size. Alteration includes abundant phyllic alteration and silicification. Copper oxide minerals occur in the quartz veins and also in patches and segregations in the clasts.

The above occurrences both resemble various phases of mineralisation at the Toquepala Copper Mine, some 15km northwest of Cinto, where intrusive hydrothermal breccias are a significant mineralisation host. The geochemistry reveals low to sporadic gold values which also resemble Toquepala. Generally low molybdenum values can be attributed to oxidation.

Results of the technical surveys

Following up on 2024 geophysical programs, the latest (current release) channel sampling and rock sampling geochemical results have:

Confirmed the presence of porphyry style copper mineralisation in favourable structural locations with analogous characteristics to the nearby Toquepala porphyry.
Demonstrated the wide footprint of mineralisation and capacity for scale.
Enabled identification of four porphyry mineralisation styles that will greatly aid design of geophysical (IP) surveys and ultimately drill targets.
Demonstrated a strong spatial correlation of copper mineralisation with the magnetic low geophysical anomaly that indicates a zone of hydrothermal alteration. Several such areas, particularly to the west of the project, have yet to be evaluated, indicating a potential for further large-scale mineralised systems at Cinto (Figure 7).

Next Steps for Cinto

Based on the geochemistry results, Induced-Polarisation (IP) programs are being planned to define drill targets. A scope of work has been confirmed with a domestic supplier with mobilisation currently being coordinated. Results can be expected in Q2 2025. Drill permitting, including archaeological surveys, will commence with a target of drilling in the second half of 2025.

Solis Minerals will continue to investigate the potential of Cinto by testing the as yet unexplored low magnetic anomalies through a combination of mapping and rock geochemistry. Further areas for IP follow-up and drill target definition are expected to become apparent once all the tenement is explored.

Drilling Schedule

* Timeline dependent upon obtaining requisite permits

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ENDS

This announcement is authorised by of the Board of Solis Minerals Ltd.

Contact
Mitch Thomas
Chief Executive Officer
Solis Minerals Limited
+61 8 6117 4795

Media & Broker Enquiries:
Fiona Marshall & Jason Mack
White Noise Communications
fiona@whitenoisecomms.com
jason@whitenoisecomms.com
+61 400 643 799

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 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 69,200Ha (47 concessions granted with 34 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 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 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.sedarplus.ca. 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). Michael Parker is Technical Director of the Company.

Disclaimer

In relying on the referenced ASX announcements and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements.

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 Technical Director 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.

APPENDIX 1

Table 3 Cinto Channel Sample Geochemical Assay Results

Sample Number	East Coord	North Coord	Elev	Channel Number	Interval From (m)	Interval To (m)	Linear Dist. (m)	Corrected Dist. (m)	Au (ppm)	Ag (ppm)	Cu (%)	Mo (ppm)	Pb (ppm)	Zn (ppm)
18614	335698	8079712	2260	CH11	0.00	2.00	2.00	1.80	0.083	10.90	2.38	1	217	1055
18615	335701	8079712	2259	CH11	2.00	4.00	2.00	1.80	0.023	4.90	0.38	1	134	314
18616	335703	8079712	2259	CH11	4.00	6.00	2.00	1.80	0.020	1.00	0.23	1	72	221
18617	335705	8079712	2259	CH11	6.00	8.00	2.00	1.80	0.003	0.25	0.04	1	80	282
18618	335707	8079712	2258	CH11	8.00	10.00	2.00	1.80	0.003	0.25	0.01	1	22	114
18619	335709	8079712	2258	CH11	10.00	12.00	2.00	1.80	0.005	0.50	0.10	1	108	239
18621	335710	8079713	2256	CH11	12.00	14.00	2.00	1.80	0.011	1.40	0.22	1	193	364
18622	335712	8079713	2256	CH11	14.00	16.00	2.00	1.80	0.003	0.60	0.08	1	159	367
18623	335714	8079713	2255	CH11	16.00	18.00	2.00	1.80	0.011	1.90	0.38	1	137	298
18624	335716	8079713	2254	CH11	18.00	20.00	2.00	1.80	0.003	0.25	0.01	1	63	194
18625	335717	8079712	2253	CH11	20.00	22.00	2.00	1.80	0.003	0.25	0.14	1	33	155
18626	335720	8079712	2253	CH11	22.00	24.00	2.00	1.80	0.003	0.25	0.01	1	47	222
18627	335721	8079712	2252	CH11	24.00	26.00	2.00	1.80	0.003	0.25	0.01	1	51	237
18628	335723	8079710	2251	CH11	26.00	28.00	2.00	1.80	0.006	0.25	0.05	1	38	193
18629	335724	8079711	2251	CH11	28.00	29.50	1.50	1.35	0.003	0.25	0.01	1	30	137
18630	335730	8079709	2278	CH12	0.00	2.00	2.00	1.71	0.003	0.25	0.01	1	81	362
18631	335731	8079707	2277	CH12	2.00	4.00	2.00	1.71	0.003	0.25	0.01	1	156	146
18632	335732	8079705	2276	CH12	4.00	6.00	2.00	1.71	0.003	0.25	0.01	1	23	101
18633	335732	8079704	2275	CH12	6.00	8.00	2.00	1.71	0.003	0.25	0.02	1	15	75
18634	335734	8079702	2275	CH12	8.00	10.00	2.00	1.71	0.003	0.25	0.01	1	31	109
18635	335735	8079701	2274	CH12	10.00	12.00	2.00	1.71	0.003	1.20	0.01	1	59	192
18636	335737	8079700	2274	CH12	12.00	14.00	2.00	1.71	0.003	0.25	0.00	1	10	85
18637	335738	8079699	2273	CH12	14.00	16.00	2.00	1.71	0.003	0.50	0.01	1	17	95

APPENDIX 1

Table 4 Cinto Rock Sample Geochemical Assay Results

Sample Number	East Coord	North Coord	Elevation	Au ppm	Ag ppm	Cu %	Mo ppm	Pb ppm	Zn ppm
18511	334306	8077664	2251	0.0025	0.25	0.001	1	16	54
18512	334425	8077837	2290	0.0025	0.25	0.001	1	19	41
18513	334553	8077977	2281	0.0025	0.25	0.010	1	12	76
18514	334678	8078123	2340	0.0025	0.25	0.010	1	12	77
18515	334822	8078297	2397	0.0025	0.25	0.006	1	12	58
18516	334929	8078433	2387	0.0025	0.25	0.008	1	9	71
18517	335025	8078188	2390	0.0025	0.25	0.004	1	8	27
18518	335012	8077871	2302	0.014	0.25	0.010	1	10	86
18519	334860	8077665	2248	0.0025	0.25	0.001	1	22	39
18520	334717	8077536	2237	0.0025	0.25	0.000	1	19	25
18522	334696	8077827	2251	0.0025	0.25	0.008	1	10	82
18523	334845	8077969	2308	0.0025	0.25	0.003	1	5	28
18524	335008	8077516	2189	0.0025	0.25	0.001	1	15	35
18525	335004	8077255	2205	0.0025	0.25	0.000	29	17	11
18526	334876	8077061	2121	0.0025	0.25	0.000	18	32	7
18527	334709	8077241	2143	0.0025	0.25	0.001	1	22	41
18528	334832	8077374	2195	0.0025	0.25	0.001	1	11	28
18529	334584	8077691	2273	0.0025	0.25	0.007	1	9	86
18530	334431	8077531	2188	0.0025	0.25	0.000	5	12	17
18531	334315	8077386	2165	0.0025	0.25	0.000	1	19	43
18532	334581	8077362	2164	0.0025	0.25	0.000	2	16	35
18533	334489	8077258	2150	0.0025	0.25	0.001	1	20	28
18534	334331	8077103	2201	0.0025	0.25	0.001	1	28	130
18535	333290	8077362	2156	0.0025	0.25	0.000	1	9	11
18536	333118	8077504	2187	0.0025	0.25	0.008	1	5	79
18537	332966	8077659	2221	0.0025	0.25	0.001	2	6	14
18538	333242	8077646	2271	0.005	0.25	0.001	3	17	9
18539	333090	8077788	2306	0.005	0.25	0.001	1	11	35
18541	333014	8077981	2364	0.006	0.25	0.000	1	14	28
18542	333378	8078144	2331	0.0025	0.25	0.000	1	20	37
18543	332838	8078113	2351	0.0025	0.25	0.000	1	17	18
18544	332739	8077971	2403	0.0025	0.25	0.000	1	13	15
18545	332591	8077826	2372	0.0025	0.25	0.001	1	14	22
18546	332475	8077692	2349	0.0025	0.25	0.001	1	15	25
18547	332452	8077798	2407	0.0025	0.25	0.000	1	11	57
18548	332462	8078021	2416	0.0025	0.25	0.000	1	16	29
18549	332062	8077809	2358	0.0025	0.25	0.001	1	15	23
18550	331824	8077848	2366	0.0025	0.25	0.000	1	18	43
18551	331683	8077960	2364	0.0025	0.25	0.000	1	14	26
18552	331964	8077980	2405	0.0025	0.25	0.000	1	14	32
18553	332193	8077955	2408	0.0025	0.25	0.000	1	9	29
18554	332327	8077843	2412	0.0025	0.25	0.000	1	14	23
18555	335475	8079764	2379	0.0025	0.25	0.018	1	51	178
18556	335573	8079758	2340	0.0025	0.25	0.005	1	13	57
18557	335613	8079757	2323	0.0025	0.25	0.025	1	9	98
18558	335688	8079770	2294	0.0025	0.25	0.003	1	35	80
18559	335773	8079764	2261	0.0025	0.25	0.045	1	61	132
18560	335830	8079755	2230	0.0025	0.25	0.023	2	15	115
18562	335890	8079768	2226	0.0025	0.25	0.020	1	14	97
18563	335929	8079767	2237	0.0025	0.25	0.007	1	20	174
18564	335474	8079570	2329	0.0025	0.25	0.005	1	24	217
18565	335524	8079560	2326	0.0025	0.25	0.003	1	69	113
18566	335572	8079561	2326	0.005	0.25	0.004	1	30	119
18567	335469	8079855	2364	0.006	0.25	0.006	33	13	87
18568	335519	8079877	2331	0.0025	0.25	0.008	1	12	60
18569	335576	8079864	2315	0.0025	0.25	0.010	1	40	140
18570	335622	8079861	2203	0.0025	0.25	0.005	1	24	73
18571	335674	8079861	2284	0.0025	0.25	0.023	1	20	82
18572	335836	8079874	2247	0.0025	0.25	0.004	7	13	4
18573	335870	8079859	2235	0.0025	0.25	0.009	2	16	76
18574	335915	8079874	2243	0.0025	0.25	0.004	1	17	161
18575	335982	8079867	2265	0.0025	0.25	0.015	2	19	78
18576	335523	8079665	2347	0.0025	0.25	0.003	1	28	94
18577	335573	8079660	2334	0.0025	0.25	0.001	1	19	66
18578	335627	8079665	2313	0.0025	0.25	0.003	1	30	81
18579	335674	8079663	2286	0.0025	0.25	0.002	1	20	70
18581	335720	8079662	2276	0.0025	0.25	0.002	1	20	75
18582	335769	8079665	2251	0.0025	0.25	0.022	1	20	122
18583	335922	8079644	2211	0.0025	0.25	0.006	1	16	71
18584	335474	8079357	2283	0.0025	0.25	0.003	1	18	58
18585	335522	8079362	2265	0.0025	0.25	0.018	1	20	96
18586	335623	8079361	2242	0.0025	0.25	0.025	1	11	101
18587	335677	8079361	2257	0.0025	0.25	0.027	2	17	124
18588	335723	8079373	2268	0.007	0.5	0.802	3	36	130
18589	335765	8079368	2265	0.0025	0.5	0.019	2	47	86
18590	335632	8079552	2320	0.0025	0.25	0.003	1	81	220
18591	335671	8079563	2313	0.0025	0.25	0.003	1	48	128
18592	335728	8079562	2296	0.0025	0.25	0.034	1	15	98
18593	335777	8079569	2278	0.0025	0.25	0.009	1	20	92
18594	335829	8079553	2270	0.0025	0.5	0.022	2	13	94
18595	335973	8079580	2196	0.0025	0.25	0.020	2	13	119
18596	335784	8079754	2253	0.0025	3	0.478	1	909	767
18597	335350	8079613	2331	0.0025	0.25	0.002	1	5	13
18598	335408	8079573	2320	0.005	0.25	0.001	2	27	43
18599	335595	8079444	2272	0.005	0.5	0.292	1	151	155
18600	335816	8079369	2246	0.0025	0.7	0.001	1	52	25
18602	335871	8079365	2218	0.0025	0.25	0.046	1	13	92
18603	335917	8079369	2194	0.0025	0.25	0.023	2	12	130
18604	330260	8078856	2163	0.006	0.25	0.001	210	32	26
18605	335788	8079753	2251	0.0025	0.25	0.006	2	102	148
18606	335474	8079464	2270	0.0025	0.25	0.005	1	12	90
18607	335520	8079474	2277	0.0025	0.25	0.005	1	13	76
18608	335566	8079472	2279	0.0025	0.25	0.005	1	9	82
18609	335620	8079477	2291	0.0025	0.25	0.003	1	14	66
18610	335672	8079460	2286	0.0025	0.25	0.032	1	12	77
18611	335721	8079451	2291	0.0025	0.25	0.017	1	26	119
18612	335779	8079460	2276	0.0025	0.25	0.024	1	12	125
18613	335827	8079482	2260	0.0025	0.25	0.009	1	33	122
18638	335602	8079445	2274	0.077	1.4	1.505	1	166	247
18639	335646	8079441	2274	0.036	5	0.599	1	134	306
18640	335639	8079434	2270	0.0025	0.25	0.008	1	16	209
18642	335636	8079426	2267	0.0025	0.25	0.016	1	82	235

JORC Code, 2012 Edition - Table 1

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. 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.	125 rock chip and grab samples were collected in Q1 2025 from outcrops. Of these, 85 samples were collected on an approximate 50 x 100m grid over an area of 0.4km2 in the north-east of the Cinto tenements including two channel samples. Remaining 40 samples were collected on an approximate 200 x 200m grid over two areas totalling 1.8km2 in the north-central area of the tenements. Within these areas, where visible copper oxide mineralisation was observed, further samples were taken off-grid to outline zones of interest. Coordinate position and assay results of each sample are shown in Table 4. The samples are considered to be as representative as possible of the exposure albeit by their nature that chip and grab samples do not reflect the overall grade of any mineralisation encountered. Samples were representatively hand-cobbed to approximately 2.5kg mass for lab submission. These samples complement 530 samples taken previously (see ASX Release dated 10th Feb 2025 ). Within the rock sampling grid, 23 channel samples were taken from 2 separate channels of maximum and minimum field length 26.5m and 13.70m respectively. A total of 40.20m of channels were sampled (field length - see below for true length). Channel samples were taken on visible mineralisation exposures that were created by old (>50 years) small-scale workings or gully erosion. Channel 11 was principally an eroded gully and Channel 12 ended in old workings. Within constraints of practicality, channels were sampled to cross mineralisation strike at a high angle and were designed to represent true widths albeit in the area sampled the mineralisation appears to form a massive outcrop with lesser assumed linear nature. The channel samples were adjusted from sampled length to true length where exposure configuration caused curvature of the channel. Channels 11 and 12 were adjusted in this manner from GIS plans. Channel samples were taken in consistent fashion to maintain representative samples. In areas with old workings, usually more friable, the channels were dug approximately 10-20 cm wide by 10-20cm deep. In areas of natural exposure the channels were chipped to 20-30cm wide by 5-10cm deep. Bulk samples were collected on a tarp. Sample lengths were 2.0m, (one exception at 1.50m). Coordinate position and assay results of each channel sample are shown in Table 3. The coordinates are considered the centrepoint of the channel sample.
Drilling techniques	Drill type (e.g. core, reverse circulation, 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).	No historic or new drilling has been reported in this announcement
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. 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.	No drilling reported herein
Logging	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. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	No drilling reported in this announcement Rock chip and grab samples were logged and rock type lithologies, oxidation and quantities of and types of mineralisation noted. Channel samples are logged in a similar but continuous fashion to construct a strip log of the channel. All channels were logged, 2 in total, for a total of 40.20m of logging (field length) (100% logged).
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representativity of samples. 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. Whether sample sizes are appropriate to the grain size of the material being sampled.	Systematic rock channel sampling was taken and separated on a tarp - usually up to 30-50kgs per linear metre. Samples were usually friable rock or chips of <3cm and were coned and quartered to produce samples of 3kgs for lab submission. Tarps and shovels/picks were cleaned after each sampling. Across the whole program, field duplicates were taken and reported excellent correlation. The sample procedure and preparation is considered appropriate for the nature of the base metal mineralisation tested and it's distribution throughout the sample. Rock chip and grab samples taken were to be considered of appropriate size and representativity to ascertain if copper and or precious metal mineralisation is present at the outcrops.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. 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.	All rock chips were assayed by ALS in Lima. Methods used were total assay of sample: Preparation PREP31 Analysis Au-AA23 and ME-ICP61 Cu OG-62 for overlimit Cu >1% Pb OG-62 for overlimit Pb >1% Zn OG-62 for overlimit Zn >1% Ag OG-62 for overlimit Ag >100ppm OREAS standards, blanks, and field duplicates were inserted at appropriate intervals and reported within required ranges.
Verification of Sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	All Solis data is verified by the Competent Person. Channel sample intersections have been checked by alternative company director with prerequisite experience. All data is stored in an electronic database and sample rejects are stored in company warehouses. Competent Person and company CEO have visited the site and observed sampling techniques and quality control. Channel sample intersections and widths were established as per field layout adjustments.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	All sample locations were captured using a handheld GPS in WGS84 19S. Rock and chip samples are points. Channel sample intervals have their centrepoint as their GPS location.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	No set sample spacing or pattern has been applied due to the preliminary nature of the sampling programme. Exposures of mineralisation were tested where found and not on a regular pattern. The distribution of the mineralisation allows commentary on potential scope of mineralisation but does not imply continuity.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Channel Sample orientation was designed to cross mineralisation at a high angle where possible and appropriate in the exposures. The area in question is part of a more massive outcrop, only partly exposed by gully erosion, and exhibits little local structural control. No bias has been introduced in current drilling and sampling.
Sample security	The measures taken to ensure sample security.	All samples are bagged onsite under supervision of Solis staff, all bags are then sealed and couriered to the relevant laboratories with all relevant submission documentation. All samples once received are logged into the lab and notice of each sample received is sent and cross checked with sample dispatch.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	There have been no detailed external audits or reviews undertaken. Solis has conducted an internal technical review and site visit by the Competent Person and the company CEO.

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. 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.	Cinto mineral tenure in Peru is currently in good standing. A recent (January 2025) application to the north of the current tenure is under review. There is no guarantee this area will be granted and it is not material to this release. Community in the area is working under an access agreement with Solis.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The Cinto property has had no systematic exploration carried out by previous owners No records of previous drilling exist in the mining ministry.
Geology	Deposit type, geological setting and style of mineralisation.	The area is well-known for the occurrence of porphyry Cu deposits. Particularly Toquepala mine 15km northwest in similar geology and structural setting. Cenozoic intrusives have been emplaced in coeval volcanics with alteration and mineralisation to produce bulk mineable porphyry Cu deposits. Low gold, moderate Mo. Igneous hyrothermal (phreatic) breccias are commonly mineralised at Toquepala. This style of mineralisation is being observed at Cinto.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole hole length 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.	No drillhole data is reported in this release

Criteria	JORC Code explanation	Commentary
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. 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. The assumptions used for any reporting of metal equivalent values should be clearly stated.	Individual Channel Samples were treated as continuous intersections and grades calculated using weighted average techniques. Total overall channel grades were reported. Subsequently higher grade included sections, if present, were reported separately. Selection was made on Cu grade cut-off of 0.1% Cu where practical. Other metal cut-offs coincided or were less distinct than Cu. Individual lower grade results were maintained in higher grade intersections where geological continuity was deemed appropriate. Channel 11 example (Cu only) 0.00- 29.50m (26.50m true length) @0.28% Cu - total 0.00-6.00m (5.39m true length) @ 1.00% Cu - included 10.00-18.00m (7.19m true length) @ 0.20% Cu - inc.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. 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').	The area channel sampled in this release forms part of a more massive mineralised system only partly exposed by gully erosion. True width not known.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	The Company has included various maps and figures showing the location of sampled outcrop and channel samples. GPS coordinates of Channel Samples are provided in Table 3. GPS coordinates of rock and chip samples are provided in Table 4.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results.	Assay results for Au, Ag, Cu, Mo, Pb and Zn are presented in total for work related to this release.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	The Company is not aware of any other substantive exploration data relevant to its activities that has not been previously reported and referenced in this release.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	IP surveys are planned on the existing channel sample results. Untested areas will be mapped and channel sampled if appropriate. Further IP surveys could be planned. All programs are designed to delineate drill targeting.

________________________
¹ Refer to ASX announcement dated 11 February 2025: Copper Porphyry Mineralisation Confirmed
² Total Mineral Reserves for third party mines sourced from Southern Copper 10K Report 2023, lodged with SEC 31 December 2023 (Cuajone & Toquepala) and Anglo American (LSE:AAL) Annual Report 2023
³ Refer to ASX announcement dated 8 April 2025: Drilling to commence at Chancho Al Palo, Peru
⁴ Refer to ASX announcement dated 15 October 2024: Solis Completes Magnetometry Survey at Cinto
⁵ Structural Characteristics of the Incapuquio fault system, southern Peru, J. Jacay, T. Sempere et al, 2002

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249429

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