Solaris Resources Inc. (SLSR) received technical approval for the Environmental Impact Assessment of its Warintza copper‑porphyry project in southeastern Ecuador on April 9 2026, a key regulatory milestone that removes a critical permitting hurdle for the project.
The approval satisfies the conditions precedent for drawing down the second $50 million tranche of the $200 million financing agreement with Royal Gold’s subsidiary RGLD Gold AG. The unlocked capital will be deployed to advance permitting, infrastructure development and district‑scale exploration at Warintza, accelerating the project toward construction and a fully permitted status by the end of 2026.
Warintza is a globally significant copper‑gold porphyry deposit with 1.3 billion tonnes of mineral reserves and a post‑tax NPV of $4.6 billion, making it one of the most compelling undeveloped copper assets worldwide. The financing is non‑dilutive and provides Solaris with the financial flexibility needed to execute the capital‑intensive development phase of a pre‑revenue company.
Matthew Rowlinson, President and CEO, said the approval “is a critical milestone for the Warintza Project and an important validation of the technical quality, environmental stewardship and responsible development approach undertaken by our team.” He added that the event “enables the Company to access the second tranche of US$50 million under our financing agreement with RGLD Gold AG, further strengthening the balance sheet as we continue to advance key workstreams across permitting, infrastructure development and district‑scale exploration at Warintza.”
The EIA approval is a de‑risking event that positions Solaris to secure full mining exploitation agreements and move the project toward construction. The additional funding strengthens the company’s balance sheet, providing the capital required to sustain development activities while the company remains pre‑revenue. The milestone also signals to investors that the project is progressing on schedule and that the company’s financing strategy is effective in securing non‑dilutive capital for a high‑potential asset.
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