Exploration activities update at Guaneros Project

Solis Minerals Limited (ASX:SLM) has announced the identification of high priority targets at the Guaneros Project in southern Peru through drone magnetometry and geochemistry. The company completed a drone magnetometry survey, revealing magnetic anomalies in areas close to the intrusive batholith contact with similar magnetic responses to those seen at llo Este. Additionally, rock samples from outcrops north of the Guaneros southern magnetic anomaly returned anomalous copper and gold values. The identified anomalies are anticipated to be followed up with ground-based Induced Polarisation (IP) surveys to assist with the final target and drill design programmes. Solis is planning to commence drilling of the portfolio of targets in Q4 and continue through 2025.

Executive Director's commentary on exploration results

The results of the drone magnetometry have made a highly significant contribution to our understanding of settings for potential mineralisation in the prospective Coastal Belt. At Guaneros, similar magnetic signatures to those associated with known mineralisation at nearby llo Este are evident. Rock samples in the area have returned highly anomalous copper and gold values associated with alteration akin to porphyry style mineralisation. We will continue to complement our knowledge, with ground investigations and further geophysics where appropriate, as we develop a clear roadmap to permitting and drilling. The Guaneros Project, along with the neighbouring llo Este and Chancho al Palo Projects, have developed into a major focus for our copper exploration in South Peru. We look forward to progressing our permitting and drilling.

Summary of exploration activities and outlook

Solis Minerals' update on exploration activities at the Guaneros Project in southern Peru has revealed promising results, with the identification of high priority targets through drone magnetometry and geochemistry. The company's focus on copper porphyry targeting in the region is evident, with plans to commence drilling of the portfolio of targets in Q4 and continue through 2025. The identified anomalies are anticipated to be followed up with ground-based Induced Polarisation (IP) surveys to assist with the final target and drill design programmes. Solis Minerals is actively considering a range of new opportunities across varied commodities and jurisdictions, positioning itself strategically to capitalize on growth opportunities within the mineral-rich region. The company continues to review targeted lithium and copper opportunities throughout South America, demonstrating its commitment to exploring and unlocking the potential of its South American critical minerals portfolio.