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.
- 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.
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.
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