Solis Minerals Ltd - SLMFF STOCK NEWS

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF) has successfully completed Tranche 2 of its Placement, raising A$2,633,296.35 through the issuance of 30,979,957 CHESS Depositary Interests (CDIs) at A$0.085 per share. The placement includes 26,470,627 unlisted options exercisable at A$0.16 with a two-year term.

Assisting brokers received 6% fees totaling A$145,697.78 and will receive 12,632,353 unlisted options exercisable at A$0.14875 with a three-year term. An additional 294,118 CDIs and 147,059 unlisted options are being issued for A$25,000. The company's total issued equity capital post-Tranche 2 is now 141,080,178 shares.

The company has also issued 6,000,000 performance rights to its CEO and 6,800,000 to its Directors, as approved at the Special Shareholder Meeting on April 16, 2025.

Solis Minerals (ASX: SLM) has announced additional high-grade copper mineralization at its Cinto Project in Peru. Recent channel sampling revealed significant results, including 26.5m @ 0.28% Cu (Channel 11), with a high-grade section of 5.4m @1.0% Cu. Previous sampling had shown results of 23.4m @ 0.88% Cu and 16.8m @ 0.52% Cu.

The copper mineralization extends across a potential area of 3km long and 0.75km wide. The project is located 15km southeast of the Toquepala mine, one of Peru's largest copper operations. Four distinct mineralization types have been identified, predominantly in breccias. The company has initiated permitting for drilling scheduled to begin in the second half of 2025.

The project's geological setting along the Incapuquio Fault System is considered favorable for large-scale porphyry copper deposits. Geophysical data from drone magnetometry supports scale potential and highlights new target areas.

Solis Minerals (ASX: SLM, TSXV: SLMN) has received approval to begin drilling at its 100%-owned Chancho al Palo copper-gold project in Peru. The company plans a 7,500-meter diamond drilling campaign, starting with 5 drill holes totaling 2,500 meters, with potential for expansion.

The drilling program follows a recent A$4.5 million placement and will be conducted alongside the upcoming Ilo Este project drilling once permits are secured. Assays will be processed at ALS Global's laboratory in Lima. The projects are strategically located near the coast at elevations below 1,100 meters, with access to critical infrastructure and proximity to major mining operations.

The Chancho al Palo project consists of four contiguous concessions in Peru's Southern Coastal Belt. Geophysical surveys have identified significant chargeability targets, with the western section showing potential for IOCG mineralization and the eastern section indicating porphyry-style mineralization potential. The company expects to generate strong news flow throughout 2025.

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF, FSE: 08W) has received approval from the TSX Venture Exchange (TSXV) for an extension on its Tranche 2 placement closing date. The TSXV typically requires placements to close within 45 days of announcement, but has granted Solis a 30-day extension from March 25, 2025, to accommodate the company's Special Shareholder Meeting scheduled for April 16, 2025. The original Tranche 1 and 2 placements were announced on February 26, 2025.

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF) has successfully completed Tranche 1 of its Placement, raising A$1,866,703.70 through the issuance of 21,961,220 CHESS Depositary Interests (CDIs) at A$0.085 per New Share. Following this allotment, the company's total issued equity capital stands at 109,806,103 shares.

Assisting brokers received aggregate fees of 6% (A$112,002.22) for funds raised under Tranche 1. Tranche 2 of the Placement requires shareholder approval at a Special Shareholder Meeting scheduled for early April 2025. CDIs issued on ASX have a four-month and one-day holding period before conversion into common shares for Canadian trading.

Solis Minerals (SLMFF) has secured firm commitments for a A$4.5 million placement from institutional and sophisticated investors, including A$205,000 from Directors pending shareholder approval. The placement consists of CHESS Depository Interests at A$0.085 per share with a 1:2 unlisted option exercisable at 16c with a two-year term.

The funds will support:

• Drilling at Ilo Este and Chancho al Palo copper targets in Peru
• Pre-drilling work at the Cinto Project
• Regional target definition work
• General working capital

The placement will be executed in two tranches: Tranche 1 raising A$1.87 million through 21,961,220 shares, and Tranche 2 raising A$2.63 million through 30,979,957 shares, subject to shareholder approval in March 2025. Drilling permits have been awarded for Chancho al Palo, with remaining approvals expected soon.

Solis Minerals has announced significant findings at its Chocolate Project in southern Peru, revealing four exploration targets - two copper porphyry and two vein-hosted iron oxide copper gold (IOCG) targets. Notable geochemical assays include samples with up to 4.92% copper and 2.47g/t gold from IOCG Target 1, and 1.92% copper from Porphyry Target 2.

The project, spanning 6,100 hectares, has only had 10% of its area investigated to date. The geology at Chocolate shares similarities with Solis' neighboring projects Ilo Este and Chancho Al Palo, forming a 'mega-target' zone of 20km length. The company has completed a magnetometer drone geophysical survey and collected 151 rock samples, analyzed at ALS Global laboratories in Lima.

Further geophysics and geochemistry surveys are planned to refine drill targets. The company expects to commence drilling in late 2025, with permits already granted for the Chancho al Palo project.

Solis Minerals has appointed Mitch Thomas as its new Chief Executive Officer, expected to commence in March 2025. Thomas brings significant experience as former CFO of Latin Resources and Battery Materials for Rio Tinto, including notable work in South America and a key role in the A$0.6 billion divestment of Latin Resources' Salinas Lithium Project.

Mike Parker, current Executive Director, will transition to Technical Director, leveraging his geological expertise and previous experience as country manager for First Quantum Minerals in Peru. The company has outlined a comprehensive performance rights package for Thomas, including targets tied to continuous service, drilling programs, JORC resource establishment, and market capitalization goals.

Thomas's remuneration includes A$300,000 plus statutory superannuation. The performance rights package includes five tranches, with conditions ranging from completion of a 5,000-metre drilling programme to achieving a market capitalization of A$100m within 24 months.

Solis Minerals (SLMFF) has confirmed extensive copper porphyry mineralization at its Cinto Project in Peru, with significant channel sampling results including 23.4m @ 0.88% Cu and 16.83m @ 0.52% Cu. The project is located 15km SE of Peru's major Toquepala copper mine.

The mineralization spans approximately 1.75 square kilometers, correlating with a large magnetic low geophysical anomaly indicating widespread hydrothermal alteration. The copper mineralization is predominantly found in breccias, similar to the mineralization style at Toquepala.

The company has initiated planning for an Induced-Polarisation survey following successful geochemical results. Drill target definition is underway, with drilling planned for the second half of 2025. The project's location on the Incapuquio Fault System is favorable for large-scale porphyry copper deposits.