Solaris Resources (TSX:SLS) Corrects the Record on Warintza Project and False and Misleading Claims by Anti-Mining NGOs

Source: Solaris Resources

Solaris Resources (TSX:SLS)(NYSEAmerican:SLSR) has issued a statement to address false and misleading claims made by anti-mining NGOs regarding the social license of its Warintza Project in southeastern Ecuador. The company emphasizes that the Warintza Project resides on the ancestral lands of the Warints and Yawi communities, which have been officially registered and defined by the Ecuadorian government since 2002. These communities are the sole legal entities with rights and authority over these lands.

The International Labor Organization has recognized the Warints and Yawi as the sole titleholders of their ancestral lands. It has also acknowledged the legality of the Strategic Alliance, a governance structure created by Solaris to ensure community consent for the Warintza Project. This Alliance is managed by an Advisory Board of Directors comprising company representatives and democratically elected members from each community.

The Ecuadorian Ministry of Environment has conducted two consultation processes, confirming that the Warints and Yawi communities are directly influenced by the Warintza Project. These consultations have successfully facilitated the project’s progression from initial exploration to advanced exploration, following an Environmental Impact Assessment and the issuance of an Environmental License.

Solaris has obtained explicit consent for the project from the Warints and Yawi through formal community agreements. These agreements include an Impact and Benefits Agreement signed in 2020 and subsequently updated in 2022 and 2024 to reflect the project’s growth and commitment to its host communities. Notably, all surrounding communities contribute employees to the project, and many have expressed interest in partnering with Solaris regarding their own lands.

In March 2024, Solaris signed a trilateral cooperation agreement with the Interprovincial Federation of Shuar Centers (FICSH), the highest authority representing 143,000 Shuar indigenous people, and the Alliance for Entrepreneurship and Innovation of Ecuador. This agreement was signed in the presence of senior Ecuadorian government officials. Mr. David Tankamash, President of FICSH, commented at the time, “We support the Warints and Yawi communities and reject the efforts of foreign NGOs who act against the will and interest of our members.”

Solaris cautions shareholders and investors against the misinformation propagated by NGOs and other third parties. The company reiterates its commitment to transparency and encourages interested parties to seek accurate information directly from them.

Mr. Froilan Juank, President of the Yawi Shuar Center, commented: “We are the legitimate registered owners of the Ancestral Lands on which the Warintza Project resides and we have the right and have chosen, through our General Assembly, to participate in the Project through our Strategic Alliance and Impact and Benefits Agreement.”

Mr. Agustin Kayak, Trustee of the Warints Shuar Center, stated: “We and the Yawi community have decided to move forward with the Warintza Project. We are the owners of the lands where Warintza is located. We work together, the two communities of Warints and Yawi, for the well-being and development of our people.”

Mr. Emmanuel Delaune, Manager of Ecuadorean state-owned mining company, Empresa Nacional Minera, stated: “Solaris is an example to follow with its Warintza Model, which contributes to the local development of the Shuar communities through transparency, citizen participation, environmental stewardship and social development. These are the principles by which Solaris has earned the necessary credentials to operate in this area of Ecuador.”

 

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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