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Solaris Signs Impacts and Benefits Agreement for Warintza Project

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Solaris Signs Impacts and Benefits Agreement for Warintza Project

 

 

 

 

 

Solaris Resources Inc. (TSX-V: SLS) and the Shuar communities of Warints and Yawi are pleased to announce the signing of an Impacts and Benefits Agreement for the Warintza 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 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.”

 

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.

 

Posted September 8, 2020

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