Copper, Gold Growth and Discovery in the Americas Corporate - - PowerPoint PPT Presentation

Copper, Gold Growth and Discovery in the Americas Corporate Presentation July 2020

World’s Greatest Explorer – Assembled Portfolio, Designed Programs, Our Discoveries Honor His Legacy

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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"). These statements appear in a number of places in this presentation and include statements regarding our intent, or the beliefs or current expectations of our officers and directors. Such forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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. Although Solaris Resources (the "Company") believes that the expectations reflected in such forward-looking statements and/or information 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 the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators, and assumptions made with regard to the ability to advance exploration efforts at Warintza, Ricardo, La Verde and the other projects; the results of such exploration efforts; and the Company’s ability to advance its projects and achieve its growth objectives. These forward-looking statements are based largely on current expectations and projections about future events and financial trends affecting the financial condition of our business. These forward-looking statements were derived using numerous assumptions regarding expected project parameters, results of operations, performance and business prospects and opportunities that could cause actual results to differ materially from those in the forward-looking statements. While the company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Forward-looking statements are based on information available at the time those statements are made and/or management's and/or its qualified persons' good faith belief as of that time with respect to future events, and are subject to information currently available, they may prove to be incorrect. Forward-looking statements are based on information available at the time those statements are made and/or management's and/or its qualified persons' good faith belief as of that time with respect to future events, and are subject to known and unknown risks and uncertainties outlined in the Company's corporate disclosure and other documents filed on www.sedar.com, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. 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 one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. 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 has been reviewed and approved by Jorge Fierro, M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” under NI 43-101. All technical information related to Warintza is based on the “Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit" prepared by Equity Exploration Consultants Inc. with an effective date of December 13, 2019. All technical information related to La Verde is based on the "Technical Report, La Verde Copper Project" prepared by AMC Mining Consultants (Canada) Ltd. with an effective date of June 20, 2018.

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 NI 43-101 and recognized by Canadian securities laws but are not defined terms under the U.S. Securities and Exchange Commission ("SEC") Guide 7 ("SEC Guide 7") or recognized under U.S. securities laws. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be upgraded to mineral reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever by upgraded to a higher category. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre- feasibility studies. U.S. investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Accordingly, these mineral resource estimates and related information may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder, including SEC Guide 7.

Forward-Looking and Cautionary Statements

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Tamarugo Ricardo La Verde Warintza Peru JVs

Leverage through drilling to multiple-times resource growth and discovery potential

Solaris is responsibly and sustainably advancing a portfolio of copper and gold projects in the Americas:

Focused on Flagship Warintza, Ecuador – High grade open pit resource within 5 km trend of

• utcropping copper porphyry; untested gold potential

Discovery Potential – Drilling for discoveries at Tamarugo and Ricardo in Chile and Capricho and Paco Orco in Peru Exploration Programs Designed by David Lowell – Assembled portfolio and designed programs led by his protégé, Jorge Fierro, VP, Exploration Managed by the Augusta Group – Highly-specialized in exploration and development, unrivaled track record of over $4.5B exits / 10 yrs

Project Portfolio | Multiple-Times Growth and Discovery Potential

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¹Solaris issues 0.25 Solaris common share for each full share of Equinox Gold Corp. upon exercise of Equinox Warrants, and receives 1/10th of the cash proceeds payable to Equinox Gold Corp. when such warrants are exercised. See EQX Financial Statements for full warrant pricing details. ²As at June 11, 2020

Equinox Gold 29% Richard Warke 21% Lundin 6% Mgmt 5% Beaty 5% Lowell 2% Spin-Out 25% Other 7%

Share Distribution

TSX Venture Exchange SLS Common Shares Outstanding 88.4M Stock Options 6.3M EQX-linked Warrants¹ 4.6M / $26M Solaris Warrants 34.0M Restricted Share Units 0.5M Fully Diluted Shares Outstanding² 133.8M Cash² $25M

Capital Structure

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Richard Warke, Executive Chairman Arizona Mining, Equinox Gold, Augusta Resource, Ventana Gold Daniel Earle, President & CEO TD Securities Linda Chang, CFO Arizona Mining, Augusta Resource, Ventana Gold Purni Parikh, SVP Corporate Affairs Arizona Mining, Augusta Resource, Ventana Gold Federico Velasquez, VP Operations Equinox Gold, Anglo American, Alta Gas Jorge Fiero, VP Exploration Equinox Gold, Lowell Copper, BHP Jacqueline Wagenaar, VP Investor Relations Guyana Goldfields Donald Taylor, Director Arizona Mining, BHP Minerals, Bear Creek Greg Smith, Director Equinox Gold, Esperanza Resources, Minefinders Ron Walsh, Director Walsh King LLP, Canadian Tax Foundation, Vancouver Stock Exchange

Board & Management Strategic Partners

Equinox Gold Corp.

Equinox Gold is an emerging mid-tier Canadian gold producer, dual-listed in Canada and the US. The company has a reserve base of over 12 Moz, with six mines in production and two more in development, providing an organic growth profile to over 1Moz annual production by 2022.

Ross Beaty

Ross Beaty is a serially-successful resource entrepreneur and founder of Pan American Silver ($3.5B), Alterra Power ($1.1B) and Lumina Copper, a company that turned $170M in financing into five separate companies generating $1.4B in shareholder value over 10 years.

Lukas Lundin

• Mr. Lundin has led companies to numerous

discoveries and major transactions, including Lundin Mining’s $3.3B merger with EuroZinc, the $2.0B sale

• f Tanganyika Oil, and the $7.1B sale of Red Back

Mining.

Richard Warke

Richard Warke has also led multiple successful mining companies, including Ventana Gold (sold for $1.6B); Augusta Resource (sold for $670M); Co-Founded to form Equinox Gold ($4B Market Cap); and Arizona Mining (sold for $2.1B).

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 the leading entrepreneurs in the mining sector.

Leadership | Track Record of Success

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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 David Lowell made more discoveries of greater consequence than anyone in history, with over a dozen major discoveries, including the greatest of all time, La Escondida, which produced ~$10B of copper last year. Assembled our portfolio of assets and designed programs led by his protégé, Jorge Fierro, the Company’s VP, Exploration. Lowell-Guilbert first defined porphyry deposit model. Its application led to David’s first discoveries (exposed deposits). He evolved his technique for a second wave of discoveries (obscured deposits); His final technique evolved to blind discoveries. 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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Canada-based management group, focused on mining sector Highly-specialized in exploration and development stage projects Unrivaled track record of creating value, with over $4.5B in exit transactions

Part of The Augusta Group | Unrivaled Track Record of Value Creation

Sold for $1.6B in 2011 Sold for $667M in 2014 Co-Founded in 2017; $4B Market Cap Sold for $2.1B in 2018

Past Returns

(12,960% return) (3,300% return) (6,100% return) (1,700% return)

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Part of The Augusta Group | Proven Results

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We focus on limiting our environmental impacts by:

• Responsible use of resources
• Minimal impact to environment
• Reducing waste
• Identify, analyze and manage our environmental risks

We act in a socially responsible manner and contribute to the communities in which we operate.

• Committed to working transparently with our

employees and other stakeholders to create growth and prosperity

• Established a committee to provide us with feedback
• n our corporate social responsibility efforts

We act in an ethically responsible manner and uphold our core values using our:

• Code of Business Conduct
• Active participation in leading management and

disclosure initiatives and industry best practices

Environment Social Governance

Responsible Mining | Environmental, Social and Governance

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Responsible Mining | Our Story, Our Model

The 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

• f conflict, resolution of underlying issues mid-2019;

instituted an informed, innovative CSR program Memorandum of Understanding and Government- Sponsored Prior Consultation process with community stakeholders

The Warintza Model

Prior Consultation; formalized relationship based on trust and transparency; full permitting, with no reliance

• n Administrative Silence

Extensive employment from local and surrounding communities, boosted by skills training and capacity building programs to foster greater inclusion Educational site visits to projects in Ecuador, Peru and Canada to see industry best practices firsthand and benchmark our practices

Franklin Kuja, Indigenous Leader of the Warints community: "Ecuador is a megadiverse country, and we came to PDAC to show the industry that it is possible to develop mining projects in a responsible and inclusive way and that we are the main guarantee of the Warintza Project moving forward.“

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Warintza Community Population

Community Number Warints 300 Yawi 200 Total 500

Direct & Indirect Service Providers

Community Number Warints 25 Yawi 5 Macas 35 Quito 10 Total 75

Direct Community Employment

Community Number Warints, Yawi 77 Amazonia sector 6 Resto del país 6 Total 89

Community involvement at each step, enhanced with capacity-building program

Maximizing community involvement key to strong and resilient alliance

Innovative approach: commitment to transparency, education and inclusion Government and community understanding

• f impacts and benefits of project

Responsible Mining | Inclusive Approach

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26,777 hectare property, 40 km north of Mirador Cu-Au mine Adjacent to San Carlos & Panantza (1.1 Bt combined) Area features hydroelectric power, highway access with road into site under construction, abundant fresh water Minimal drilling on discovery outcrop (2000-2001) within 5 km-long system (6.6 km in 33 holes, less than 200m avg. drilled depth) In-Pit Inferred Resource: 124 Mt @ 0.70% CuEq¹ (0.56% Cu, 0.03% Mo, 0.1 g/t Au) Less than 1 to 1 strip ratio Open laterally and to depth, with holes bottoming in strong mineralization

Warintza Project | World Class Project, Southeast Ecuador

• 1. See Resource Estimates and Cautionary Notes
• 2. Constraining optimised pit shell with 3D view of the inferred blocks greater than 0.3% copper (looking southwest). Strip ratio for optimised pits is 0.71:1.

Warintza Wide Open for Growth and Discovery

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Warintza Project| Extensive System of Outcropping Porphyries

• Cu in soils ~1080 ppm
• Mo in soils ~69 ppm
• No soil anomaly
• 0.3-1.1% Cu in chips
• Cu soils ~625 ppm
• Mo soils ~61 ppm
• 81m at 1.1% Cu in channel
• Cu soils ~790 ppm
• Mo soils ~64 ppm
• Open laterally - Mo anomalies

define porphyry centres

• Cu soils ~683 ppm
• Mo soils ~62 ppm

5 km

• 1. See Resource Estimates and Cautionary Notes

Scale Reference: San Carlos-Panantza (1.1 Bt combined)

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Historical placer mining activity on gold shedding off Caya into drainages

Undrilled Gold Potential

Three large-scale, undrilled gold anomalies from surface sampling Pitting at Caya has uncovered gold stockwork zone

Warintza Project| Large-Scale, Undrilled Gold Anomalies

• 1. Corriente Resources - Panantza and San Carlos Copper Project, Preliminary Assessment Report, October 30, 2007

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Upcoming News | News Anticipated in 2020

Recommencing drilling at Warintza Central for rapid resource growth; discovery potential along 5 km outcropping porphyry trend Discovery potential at Warintza gold targets Advancing Tamarugo in Chile toward drilling this year; Capricho and Paco Orco in Peru drill-ready next year Discovery potential from drilling at Ricardo in Chile via JV Partner, Freeport-McMoRan

Joint Ventures

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Tamarugo Project| Discovery Potential in Chilean Copper Belt

Solaris can earn up to a 75% interest in Tamarugo for gross expenditures of US$5.5M / 5-yrs from Freeport 5,100 hectare property in a mineralized corridor that hosts numerous porphyry deposits 5 km NE of Copiapo with excellent access to infrastructure including power and nearby water Same geologic and structural setting as El Salvador and Potrerillos Copper Mines, located ~50 km to the NE:

• El Salvador: 3.8 Bt @ 0.45% Cu
• Potrerillos: 1.0 Bt @ 0.98% Cu

Discovery potential in the same geologic area that hosts Chile’s largest copper porphyry deposits

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Solaris option to earn up to 75% 4,600 hectare property, 60 km SE of Las Bambas, Haquira Outcropping porphyry exposed >300 m during recent landslip Samples from this outcrop grade up to 3% Cu Community consultation ongoing

Capricho and Paco Orco| Discovery Potential via JV in Peru

Capricho

Solaris option to earn up to 75% 4,400 hectares property, northern extension of Southern Peru Copper Belt Polymetallic CRD gossan outcropping in limestone extending >2 km Surface samples up to 0.5 % Pb, 0.26% Zn and 58 g/t Ag from leached material Community consultation ongoing

Paco Orco

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Exposure to US$4.2M of exploration spending over two years as part of US$130M / 5-yr farm-out of 80% to Freeport-McMoRan 16,000 hectares in the most prolific section of the West Fissure fault, which controls Chile’s largest copper deposits Earlier efforts at drilling stymied by fault, but encountered rock types and alteration similar to those seen at Chuquicamata

Ricardo Project| Discovery Potential via JV in Chile

Discovery potential on the same structure as one of Chile’s largest copper mines, Chuquicamata

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La Verde Project| Leverage via Development-Stage JV in Mexico

• 1. See Resource Estimates and Cautionary Notes

60% ownership with Teck Resources holding 40% Positive PEA economics with >US$617M NPV at US$2.70 copper (100% basis)¹ Paved road access to site with water, highway and rail nearby 2012 resource estimate¹:

• M&I: 408M tonnes grading 0.41% Cu containing 3.7Blbs Cu
• Inferred: 338M tonnes grading 0.37% Cu containing 2.7Blbs Cu

Development stage project with excellent infrastructure, provides leverage to higher copper prices

Appendix

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Copper Deposit Discovery Rate Remains Dismal

Source: S&P Global Market Intelligence – As of June 1, 2020

2 4 6 8 10 12 14 16 18 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Number of Discoveries Discovery Year

Only 1 discovery made since 2015

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: - 2016: Marimaca 2017: - 2018: - 2019: -

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Less than 1 Mt Discovered since 2015

¹ S&P Global Market Intelligence forecast of how the total discovered copper will increase in the coming years Source: S&P Global Market Intelligence – As of June 1, 2020

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 20 40 60 80 100 120

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Copper exploration budget (US$M) Copper in major discoveries (Mt)

Copper in reserves, resources & past production Projected new copper in major discoveries Copper exploraton budgets

¹ 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: - 2016: Marimaca 2017: - 2018: - 2019: -

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15 17 19 21 23 25 27 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 Million dry metric tonnes Operating Committed Probable Possible Mined copper demand

Copper Supply Cliff

¹ Mirador Copper Mine 2019FY copper production of 55,233 tonnes Source: S&P Global Market Intelligence

DEMAND

Projected mine production 6.5 Mt shortage of mined copper by 2030 if no new mines

= 117 Mirador Copper Mines¹

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0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 Copper Reserves & Resources (Mt) Grade (%)

Mirador Cobre Panama Constancia Filo del Sol Zafranal Santa Domingo Marimaca

Warintza Among Highest Grade Quartile Among OP Mines

¹ All major open pit copper discoveries from 2000 – present with a grade of <1.0% Cu Source: S&P Global Market Intelligence – As of June 1, 2020

Warintza

33 holes, 124Mt @ 0.56% Cu

Escondida, (33.9Mt @ 0.46%Cu)

Growth Potential?

Sentinel

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Resource Estimates

Warintza In-pit Mineral Resources

Resource Tonnes CuEq (%) Cu (%) Copper (M lbs) Mo (%) Mo (M lbs) Au (g/t) Au (oz) Inferred 123,760,200 0.70 0.56 1,516 0.03 77.5 0.06 238,600

The Warintza Mineral Resource estimate was reported in the “Resource Estimate Of The Warintza Central Cu-Mo Porphyry Deposit" prepared by Equity Exploration Consultants Ltd. with an effective date of December 13, 2019. The Warintza Central Mineral Resource statement has been prepared by Trevor Rabb, PGeo who is a qualified person as defined by NI 43-101. The resource is reported using a cut-off of 0.2% copper. Copper equivalent calculations were made for reporting purposes. Copper-equivalence calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb and Au - US$1,500/oz. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The La Verde Mineral Resource estimate was reported in the "Technical Report, La Verde Copper Project, Michoacán State, Mexico" prepared by AMC Mining Consultants (Canada) Ltd. with an effective date of June 20, 2018. The resource is reported using a base-case cut-off grade of 0.2% copper. The cut-off grade of 0.2% copper is based on experience for similar open-pit projects and a mining conceptual study which used a metal price of US$2.50/lb copper and copper metal recovery of 92%. This Resource estimate is not constrained by a pit shell. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

La Verde Mineral Resources

Resource Tonnes Cu (%) Ag (g/t) Au (g/t) Copper (M lbs) Measured 57,527,000 0.45 2.94 0.05 571 Indicated 350,442,000 0.40 2.33 0.03 3,098 Total M&I 407,969,000 0.41 2.42 0.03 3,669 Inferred 337,838,000 0.37 1.94 0.02 2,748

+1 416-366-5678 x.203 info@solarisresources.com Investor Relations: Copper, Gold Growth and Discovery in the Americas