VANCOUVER, BC, Sept. 8, 2020 /CNW/ - Solaris Resources
Inc. (TSXV: SLS) ("Solaris" or the "Company") and the Shuar
communities of Warints and Yawi are pleased to announce the signing
of an Impacts and Benefits Agreement ("IBA") for the Warintza
Project ("Warintza" or "the Project") in south-eastern Ecuador. The IBA provides certainty of
community support for the responsible advancement of the Project
from exploration and development through production.
Highlights
- IBA with Warints and Yawi Indigenous partners provides
certainty of community support for Warintza from exploration and
development through to production
- Major milestone in the Company's innovative Community Social
Relations ("CSR") program, with the IBA representing industry best
practice and a new first for Ecuador
- Commitments and benefits to communities include: impact
mitigation, employment, education, training and other capacity
building, infrastructure development, and financial benefits
Mr. Daniel Earle, President &
CEO, commented, "The signing of this IBA marks a major milestone in
the continued success of our innovative CSR program for the
Warintza Project. We continue to set precedents in Ecuador for industry best practice for
inclusive and mutually-beneficial resource development in
partnership with Indigenous communities. The IBA builds on the
foundation of trust established via our Community Consultation and
Memorandum of Understanding, providing reciprocal commitments
toward the advancement of the project in an environmentally and
socially responsible fashion."
The IBA formalizes commitments toward supporting our partner
communities in their social and cultural practices. It also
provides for eliminating or mitigating adverse impacts, employment,
contracting and business opportunities supported by a robust
program of education, skills and training together with community
infrastructure development and financial benefits to maximize
community participation and positive outcomes for our Indigenous
partners.
Mr. Agustín Kayuk, Indigenous Chief of the Warints community and
board member of the Strategic Alliance, commented, "Together with
the Yawi community, we are pleased to have entered into the IBA
which promises to provide our communities with meaningful
participation in the project, business opportunities, employment
and education, and financial benefits. We look forward to
continuing our positive working relationship and playing an
integral role in mineral development in our area of influence to
foster positive changes in our communities."
On behalf of the Board of Solaris Resources Inc.
"Daniel Earle"
President & CEO, Director
About Solaris Resources Inc.
Solaris is advancing a portfolio of copper and gold assets in
the Americas, which includes: a high-grade resource with expansion
and additional discovery potential at the Warintza copper and gold
project in Ecuador; discovery
potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130M spending over 5-yrs through a farm-out
agreement with Freeport-McMoRan on the Ricardo Project in
Chile; and significant leverage to
increasing copper prices through the 60%-interest in the
development-stage La Verde
joint-venture project with Teck Resources in Mexico.
Cautionary Notes and Forward-looking
Statements
This document contains certain forward-looking information
and forward-looking statements within the meaning of applicable
securities legislation (collectively
"forward-looking statements"). The use of
the words "intention",
"will",
"may", "can",
"expect" and similar expressions are
intended to identify forward-looking statements. Although Solaris
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 Solaris 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 Solaris'
Management's Discussion and Analysis
for the year ended December 31, 2019
available at www.sedar.com. Furthermore, the forward-looking
statements contained in this news release are made as at the date
of this news release and Solaris does not undertake any obligations
to publicly update and/or revise any of the included
forward-looking statements, whether as a result of additional
information, future events and/or otherwise, except as may be
required by applicable securities laws.
SOURCE Solaris Resources Inc.