Solaris Resources (TSX:SLS)(NYSEAmerican:SLSR) and the Shuar communities of Warints and Yawi have recently signed an updated Impact and Benefits Agreement (IBA) for the Warintza Project. This agreement signifies a step forward in the project’s evolution, reflecting its continued growth and advancement.

The IBA is a key part of Solaris’ Community Social Relations (CSR) program, recognized as a leading practice within the Ecuadorian mining industry. It guarantees the Shuar communities’ backing for Warintza throughout all stages, from exploration and development to production. Importantly, the agreement also formalizes commitments to several key areas.

First, that Solaris Resources will uphold the social and cultural practices of the Shuar communities. Second, the company will take steps to minimize or eliminate any negative impacts the project may have. This could include environmental or social disruptions. To maximize community participation in the project, Solaris will provide opportunities for employment, education, and skills training. The agreement also includes financial benefits for the Shuar communities.

The Warintza Project is expected to deliver significant advantages to local communities. These include job creation and business development opportunities. The project will also improve access to appropriate healthcare, including emergency services. Additionally, the agreement includes measures to develop community infrastructure and provide educational and skills training programs.

The updated IBA also fosters greater involvement from the Shuar communities in the project’s development. This collaboration establishes a framework to address shared concerns regarding the project’s impact on their lives and the well-being of their communities.

Beyond local benefits, the Warintza Project is anticipated to generate tax revenue for the Ecuadorian government. Solaris has reiterated its commitment to operating sustainably and responsibly by minimizing environmental impact and maintaining open communication with local communities.

Ms. Sonsoles García, Minister of Production, Foreign Trade, Investment and Fisheries, commented, “We value this initiative of Solaris because it strengthens positive community relations and provides for the integration of the local population in productive and sustainable activities. This allows the inclusion of a traditionally displaced population, which is a priority for us. It is also aligned with the priority we have as a National Government of territorial development and good use and management of resources.”

Mr. Daniel Earle, President & CEO, commented, “The signing of this updated IBA builds on the foundation of good faith dialogue and trust that led to the formation of a Strategic Alliance partnership with our host communities and original IBA in 2020. This marks a significant milestone in the social advancement of the Warintza Project through our pioneering Participatory Mining model for sustainable resource development.”

Mr. Agustin Kayuk, leader of the Shuar Warints Center and member of the Board of Directors of the Strategic Alliance, commented, “The signing of this updated IBA strengthens the working relationship with Solaris and brings greater opportunities for the development of our communities. The decision is supported by a permanent relationship with the Company based on mutual respect and transparent dialogue, as well as a history of positive impacts generated for our people. We look forward to continuing our relationship and playing an integral role in the advancement of the Project.”

Mr. Vicente Froilan Juank, leader of the Shuar Yawi Center and also a member of the Board of Directors of the Strategic Alliance, commented, “The updated IBA brings further support and new opportunities for our people. When Warintza advances, our communities advance with it. Since the signing of the inaugural IBA in 2020, and with the help of the Ecuadorian state, the local impacts in job creation, community infrastructure, and development of programs in health, education, skills training, entrepreneurship, and innovation have been evident in our daily lives.”