Exploration update for Peru and Borborema projects

Solis Minerals Limited (ASX: $SLM) has provided an update on the exploration activities in Peru and Borborema, Brazil. The company is progressing with drill permitting for copper targets at llo Este and Chancho al Palo, with significant geophysical targets identified and an additional license pegged at llo Este. Solis is also reviewing new opportunities across varied commodities and jurisdictions.

Executive Director, Matthew Boyes, comments on the update

Our Peruvian copper assets are quickly moving to the fore and we have some very promising targets generated by our team on the ground. llo Este and Chancho al Palo both look to be excellent copper targets and we look forward to getting the permitting granted and start drilling as soon as possible. Solis is also constantly reviewing potential acquisitions and has implemented a series of cost cuts across the group with only essential expenditure being maintained until a new project is secured. The final assays have now been received for the Estrela and Mina Vermelha drilling but no lithium mineralisation of significance was reported. We are now undertaking a final review of all assay data from both Estrela and Mina Vermelha before deciding the next steps with regards to follow up exploration.

Summary of exploration update and outlook

Solis Minerals (ASX: $SLM) has made significant progress in its exploration activities, particularly in Peru and Borborema, Brazil. The company is focusing on advancing the drill permitting process for copper targets at llo Este and Chancho al Palo, with promising geophysical targets identified. Additionally, Solis continues to review new opportunities across varied commodities and jurisdictions. The company has received the final assays for the Estrela and Mina Vermelha drilling, indicating no significant lithium mineralisation. However, Solis remains optimistic about the potential for discovery of lithium-bearing pegmatite systems in the extensive Estrela project. With approximately 270 pending assays for the initial geochemical program in Borborema, Solis aims to follow up on anomalous areas of mineralisation. The company's focus on cost cuts and essential expenditure reflects its strategic approach to securing new projects. Solis Minerals looks forward to further advancements in its exploration endeavors and remains committed to its corporate strategy of pursuing opportunities in critical minerals.