Solaris Appoints Senior Mining Engineer to Lead Warintza Technical Studies
November 2, 2020 – Vancouver, B.C. – Solaris Resources Inc. (TSXV: SLS) ("Solaris" or the "Company") is pleased to announce the appointment of Mr. Chad Wolahan as Vice President, Projects. Mr. Wolahan will lead the technical studies required to deliver an industry-leading engineering and economic assessment for the Warintza Project (“Warintza” or “the Project”) in south-eastern Ecuador.
- Mr. Wolahan is a Mining Engineer with nearly 20 years of experience leading the planning, design and execution of engineering and economic studies for major mining projects globally
- Relevant experience in senior capacities with Ivanhoe Mines, leading Kakula copper project Feasibility Study from conception to completion, resulting in after-tax NPV(8%) of US$5.5B¹
- Warintza technical program to integrate and run concurrent with the ongoing 40,000 metre diamond drill program to expand and upgrade Mineral Resources at Warintza Central
- Study to target environmental leadership in decarbonization, with renewable hydroelectric grid power, electrified transport and materials movement, and potential autonomous technologies
Daniel Earle, President & CEO, commented, “Mr. Wolahan has a proven ability to lead the planning, design and execution of technical programs in support of engineering and economic studies for Tier 1 projects. This experience spans both the corporate and consultancy sides of the business and is directly relevant to our strategic plans to rapidly advance the Warintza Project and quantify its economic potential.”
Mr. Wolahan is a Mining Engineer with nearly 20 years of experience leading the planning, design and execution of engineering and economic studies for mining projects globally. Prior to joining Solaris, Mr. Wolahan worked with Ivanhoe Mines for the past seven years in various senior capacities and was responsible for project planning and management of technical programs supporting the advancement of the Tier 1 Kakula project in the Democratic Republic of the Congo from Preliminary Economic Assessment through Feasibility. Prior to Ivanhoe Mines, Mr. Wolahan worked at Stantec Consulting leading a team to produce the mining design, schedule and cost estimations for various projects. Mr. Wolahan holds a Bachelor’s degree in Mine Engineering from Montana Tech University.
The Board of Directors have authorized and approved a grant of incentive stock options for the purchase of an aggregate of 2.3 million common shares to employees and directors, pursuant to the terms of the Company’s Stock Option Plan. The options are exercisable at C$4.90 per share, expire five years from the date of grant, and vest periodically over a course of three years.
On behalf of the Board of Solaris Resources Inc.
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
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 / 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 the latest Solaris Management’s Discussion and Analysis 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.
(1) Ivanhoe Mines Kakula 2020 Feasibility Study