Two tranche placement of CHESS Depository Interests (CDIs) over the common shares in the capital of Solis (New Shares) at the Offer Price to raise gross proceeds of approximately A$4.0 million, with the ability to accept oversubscriptions to raise up to a maximum of $5.0 million (Placement or Offer), comprising:

• ~21.96 million New Shares (~$1.87 million) to be issued within the Company’s 15% placement capacity under ASX Listing Rule 7.1 and additional 10% placement capacity under ASX Listing Rule 7.1A (Tranche 1); and
• ~25.10 million New Shares (~$2.13 million) and the Options to be issued subject to shareholder approval at a meeting of shareholders scheduled to take place around late March 2025 (Tranche 2) based on a Placement size of A$4.0 million.

In the event that the maximum subscription of A$5.0 million is accepted, approximately 21.96 million New Shares will be issued under Tranche 1 and approximately 36.86 million New Shares and the Options will be issued under Tranche 2.

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 (46 concessions granted with 35 applications in process).    The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. 

Located in Peru’s world-class copper belt, Ilo Este and Chancho al Palo are strategically positioned among major copper operations, including Southern Copper’s Toquepala Mine (200ktpa Cu) and Anglo American’s Quellaveco Mine (300ktpa Cu). Ilo Este hosts a large Cu-Au mineralised porphyry system, with historical drilling confirming a 1.1km mineralised strike, highlighting its significant scale potential. Extensive geophysical surveys have outlined a chargeability anomaly over 1,200m long, with coincident copper oxides and porphyritic quartz microdiorites at surface, reinforcing its status as a high-priority drill target. Chancho al Palo, located 8km along strike from Chocolate, presents strong IOCG (Iron Ore Copper Gold) and porphyry potential, with magnetic surveys confirming multiple high-priority targets. With drill permitting now finalised, Solis is preparing to launch a 5,000m drilling campaign in the coming weeks.

Previous work on Ilo Este in 2014 returned:

• IE-JDD-003 zone from 472 m @ 0.11% Cu, 0.09g/t Au from surface¹
• IE-JDD-002 zone from 318m @ 0.13% Cu, 0.10g/t Au from surface²
• IE-JDD-001 zone from 200m @ 0.14% Cu, 0.10g/t Au from surface³

Cinto, located 15km from the Toquepala Cu-Mo Mine, sits within Peru’s primary porphyry belt, where several large-scale copper discoveries have been made. Historical workings confirm strong copper mineralisation, with surface assays returning up to 7% Cu in brecciated structures, further validating its prospectivity. Extensive ground magnetic surveys, geochemical sampling, and IP surveys are refining high-priority drill targets for a major drilling campaign in H2 2025. The project also benefits from a signed access agreement with the local community, ensuring smooth permitting and reinforcing Solis' commitment to responsible exploration.

Channel sampling across exposed porphyry mineralisation in zones over 600m apart.

• 23.4m @ 0.88% Cu (Channel 1)
• 16.83m @ 0.52% Cu (Channel 6)

Solis is actively expanding its Peruvian copper portfolio, securing additional highly prospective ground. Chocolate (6,400 ha) was recently acquired within the Coastal Belt, strategically situated between Ilo Este and Chancho al Palo. Similarly, Canyon (25,600 ha) extends Solis’ footprint in the Southern Peru Coastal Intrusive Belt, an area hosting multiple Tier-1 copper deposits. Early-stage exploration programmes are underway to define high-priority targets, paving the way for an exploration drilling campaign in 2026.