Solis Announces: Drilling Commenced At Ilo Este Copper Gold Project, Peru

• Drilling has commenced at Solis Minerals' flagship Ilo Este copper-gold project in Peru.

• Initial program to comprise approximately 5,000 metres of diamond drilling.

• Program designed to test areas of known copper-gold mineralisation and evaluate new target zones identified through recent geophysical and geological work.

• Ilo Este is located in a world-class mining district, near several major copper mines and excellent infrastructure.

West Leederville, Western Australia--(Newsfile Corp. - August 11, 2025) - Solis Minerals Limited (ASX: SLM) ("Solis Minerals" or the "Company") is pleased to announce that diamond drilling has commenced at its flagship project, the Ilo Este copper-gold Project in southern Peru (Figure 1). Ilo Este is 100%-owned by Solis Minerals.

The initial diamond drilling program will comprise approximately 5,000 metres and is designed to follow up on historical intercepts of broad porphyry-style copper-gold mineralisation¹. Drilling has commenced in the north-east of the Ilo Este project area targeting a northern magnetic anomaly before mobilising to the southern magnetic anomaly (Figure 2). The program will also test newly defined targets generated through recent mapping, surface sampling and reinterpretation of historical geophysics².

The Ilo Este project is located in a prolific copper district that hosts several major international copper mining companies in production or with advanced projects including Southern Copper, Teck and Anglo American. The Company's targets (Figure 2) are analogous to AusQuest Limited's (ASX: AQD) Cangallo exploration prospect in southern Peru, where wide zones of copper mineralisation have been discovered³.

Chief Executive Officer, Mitch Thomas, commented:

"We are very excited to commence drilling at Ilo Este. This project represents a compelling exploration opportunity in a highly prospective geological setting.

The existence of historical drilling, including YAR001⁴ with an intersection of 158 metres @ 0.20% copper and 0.16 g/t gold from surface⁵ and IE-DDH-005-15 with an intersection of 291 metres @ 0.21 g/t gold from 102 metres, highlight the attractive prospectivity of the Ilo Este project. Technical studies completed over the past 24 months have identified additional untested attractive targets.

Our team has worked diligently to refine a five thousand metre work programme and secure all necessary approvals, and we look forward to updating shareholders as results become available."

¹ Refer to ASX: SLM announcement from 22 April 2025 Corporate Presentation. Refer to ASX: LRS announcement from 29 April 2014 Latin Defines Significant Copper-Gold Porphyry System at Ilo Este With Multiple Drill Targets.
² Refer to ASX: SLM announcement from 13 December 2023 Anomaly confirms drill target zone during IP study at Ilo Este.
³ Refer to ASX: AQD announcement from 21 July 2025 Cangallo porphyry copper discovery grows.
⁴ Refer to the Note at end of this release.
⁵ Please refer to the note commencing on page four in relation to non-JORC compliant historical exploration results.

Figure 1: Diamond drill rig operating at Ilo Este, Peru. Hole ID: P-15
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Figure 2: Ilo Este, Peru concession area showing location of drill hole one (P-15) targeting the northern magnetic anomaly labelled. Please refer to the Note on page four in relation to non-JORC compliant historical exploration results.
To view an enhanced version of this graphic, please visit:

ENDS

This announcement is authorised for release by the Board of Solis Minerals Ltd.

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