West Leederville, Western Australia--(Newsfile Corp. - February 3, 2024) - Solis Minerals Limited (ASX: SLM) ("Solis" or the "Company") is pleased to provide further details of the contract between Solis and S3 Consortium Pty Ltd, trading as StocksDigital (StocksDigital), in which StocksDigital will provide the Company with marketing and investor communications services (StocksDigital Mandate), as announced to the ASX on 5 July 2023 (July Announcement).

A key term of the StocksDigital Mandate was the issue of 2,500,000 Shares (StocksDigitial Shares) to StocksDigital in consideration for the services to be provided by StocksDigital. As set out in the July Announcement, the policies of the TSX-V prohibit the issue of the StocksDigital Shares as compensation in the nature of what was agreed between the parties under the StocksDigital Mandate.

The Company and StocksDigital have agreed to vary the terms of the StocksDigital Mandate whereby the Company will not issue the StocksDigital Shares and instead compensate StocksDigital for its services in accordance with the following:

1. issue 1,750,000 unquoted options to StocksDigital subject to the terms and conditions set out in Schedule 1 to this announcement (StocksDigital Options); and

2. pay A$307,500 to StocksDigital.

Other than the abovementioned amendment to the consideration, the StocksDigital Mandate otherwise continues in full force and effect.

An Appendix 3G for the StocksDigital Options will be issued separately to this announcement.

SCHEDULE 1 - SUMMARY OF KEY TERMS AND CONDITIONS OF STOCKSDIGITAL OPTIONS

The key terms and conditions of the StocksDigital Options (Options) are as follows:

1. (Entitlement): Subject to the terms and conditions set out below, each Option entitles the holder on conversion to the issue of one fully paid common share in the capital of the Company (Share). Provided that a reference to a "Share" may also be construed as a reference to a CHESS Depositary Interest (CDI), with each such CDI representing one Share.

2. (Exercise Price): The Options have an exercise price of A$0.09 each (Exercise Price).

3. (Expiry Date): The Options expire at 5:00pm (Perth time) on 31 December 2025 (Expiry Date). An Option not exercised before the Expiry Date will automatically expire on the Expiry Date.

4. (Vesting): The Options granted will vest on a quarterly basis over the 12-month period following the date of issue of the Options.

5. (Exercise Period): Each vested Options is exercisable at any time and from time to time on or prior to the Expiry Date.

6. (Voluntary Escrow): Shares acquired upon the exercise of Options may not be traded (whether on ASX or any other securities exchange) and will be subject to a holding lock until 30 May 2025.

About Solis Minerals Ltd.

Solis Minerals is an emerging lithium explorer focusing on Latin American critical minerals.

The Company owns a 100% interest or option to acquire 100% interest in the Borborema Lithium Project in NE Brazil, covering 26,100ha.

In addition, Solis also holds a 100% interest in 35,700ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern Peru within the country's prolific coastal copper belt - a source of nearly half of Peru's copper production.

Australia
Matt Boyes
Executive Director
Solis Minerals Limited
+61 8 6117 4795

Jonathan van Hazel
Investor Relations
Citadel-MAGNUS
+61 (0) 411 564 969

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at . These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.