Cucho Copper Project

The Cucho Copper Project is situated approximately 183 kilometres north-northwest of Lima on the Pacific coastal of Peru. The Project lies in low-relief desert terrain, highly favourable for infrastructure development and at an elevation of approximately 1,500 metres.

Cucho lies approximately 40 kilometres from Element 29 Resources’ (TSX-V:ECU) Elida project and 120 kilometres from the world-class Antamina operation. International mining companies Fortescue Metals Group (ASX:FMG), Vale S.A (NYSE:VALE), and Newmont Corporation (NYSE:NEM) are actively exploring for copper and gold in the region. FMG holds adjacent tenements 1km to the north-east of Cucho and Vale is actively exploring 4kms to the south-east of Cucho. Newmont’s Illari copper-gold project 50kms south-west of Cucho.

Cucho represents a compelling exploration and development opportunity with extensive historical datasets, existing drill-defined copper mineralisation from surface, and clear geological indicators of a district-scale mineralised system.

Previous drilling encountered significant mineralisation in all drill-holes with grades consistent with operating mines across the Andean copper belt:

• COP14-01: 169.7 metres @ 0.24% Cu, 0.012% Mo and 1.0 g/t Ag (from surface)
  Inc. 39.5 metres @ 0.34% Cu, 0.014% Mo and 1.1 g/t Ag (from 27.3 metres)
• COP14-02: 178.7 metres @ 0.23% Cu, 0.022% Mo and 0.9 g/t Ag (from 38.6 metres)
• COP14-05: 96.7 metres @ 0.28% Cu, 0.018% Mo and 1.4 g/t Ag (from 37.2 metres)
  Inc. 52.7 metres @ 0.35% Cu, 0.016% Mo and 1.0 g/t Ag from 82.5 metres
• COP14-06: 175.4 metres @ 0.28% Cu, 0.012% Mo and 1.3 g/t Ag (from surface)
  Inc. 91.2 metres @ 0.33% Cu, 0.007% Mo and 0.8 g/t Ag (from surface)
• COP14-07: 269.1 metres @ 0.25% Cu, 0.011% Mo and 1.1 g/t Ag (from surface)
  Inc. 19.9 metres @ 0.36% Cu, 0.002% Mo and 1.0 g/t Ag (from 13.6 metres)
  Inc. 18.0 metres @ 0.36% Cu, 0.020% Mo and 0.6 g/t Ag (from 138.2 metres)

Historical drilling had limitations that led to a 2014 Technical Report, prepared under NI-43-101 Standards, concluding that “the main geochemical and geophysical anomalies were left without verification by drilling”. Solis Minerals plans to drill these in 2026 with a 5km diamond drilling programme.