Solis Minerals Ltd. announced an update on the drilling programme currently underway at the Estrela and Mina Vermelha projects in the Borborema Province, Brazil. Twelve of the initial 23 drillholes planned (targeting a total 3,600m) have now been completed into the recently identified Estrela targets. Four of the drill holes intersecting subvertical pegmatites at depth.

Limited fine grained spodumene2 has been identified visually in the core to date. Four drillhole have been processed and submitted for chemical analysis at SGS laboratories in Belo Horizonte. Results will be reported once available.

The remaining 11 drillholes in the programme are on schedule to be completed with and all core processed in late December. Two drillholes have now been completed from an initial 8-hole programme (targeting a total 1,420m). This programme will test the 2km long strike of known pegmatites at Mina Vermelha.

MVDDH00002 intersected multiple stacked pegmatites from 9.7m to 314m downhole. A total of 168.8m of pegmatite was intersected with 64.8m logged as spodumene bearing. The hole is interpreted to have been drilled oblique to the strike of the interpreted pegmatite bodies with a second set of pegmatites now interpreted to be east west trending a follow up north south oriented drillhole will be completed if assays justify follow up the initial hole.

The true width of the mineralisation in MVDHH00002 is estimated to be approximately 48-75m. The size of this interval is encouraging and demonstrates potential for a large tonnage system to be hosted within the Mina Vermelha Project. Fine grained visible spodumene and pollucite mineralisation3 has been logged, although in minor quantities.

The results from geochemical assays are awaited to confirm the extent of mineralisation. The drill rig has now moved South to test the third site before moving to the Northern-most known pegmatite outcrop. In total, nine outcropping pegmatites have been identified on the Mina Vermelha site including a second set of pegmatites orientated in east west strike, all targets will be drill tested by conclusion of this programme E-W orientated sets of pegmatites in the region are commonly spodumene-bearing and are currently being mined at Mina Paraiba approximately 16km to the north of Mina Vermelha.

GMT exploration services have now completed approximately 25% of a major regional geochemical soil programme in northern Borborema Province has been completed. Samples are currently being prepared for submission for ICP analysis. Assay results are expected to assit in identifying new drill targets in over the Company's large tenement holding in the northern Borborema province, the programme is scheduled to be completed in early 2024.