Mitch Thomas Named CEO of Solis Minerals with 5,000m Drilling Target Set

Leadership Shift Signals Strategic Focus

Solis Minerals Limited (ASX: SLM) has announced a significant leadership change with the appointment of Mitch Thomas as Chief Executive Officer, effective March 2025. Thomas brings a wealth of experience from his prior roles as CFO at Latin Resources and Rio Tinto’s Battery Materials division, with a strong track record in South American mining projects, particularly copper. His background includes hands-on involvement in the La Granja copper project in Peru and a pivotal role in the A$600 million divestment of the Salinas Lithium Project in Brazil.

Simultaneously, Mike Parker, who has served as Executive Director since August 2024, will pivot to a Technical Director role. Parker, a seasoned geologist with a history of major copper discoveries and leadership in Latin America, will concentrate on advancing Solis’ exploration efforts in Peru.

Ambitious Exploration Campaign in Peru

The leadership transition comes as Solis prepares for an extensive drilling campaign across its copper-rich tenement package in southern Peru, which now spans approximately 66,000 hectares. The company’s portfolio includes the Ilo Este and Ilo Norte tenements within the Coastal Belt, a globally recognised copper province. This campaign aims to unlock significant value through the identification of drill-ready targets and the potential delineation of maiden JORC resources.

Non-Executive Chairman Chris Gale expressed confidence in the new leadership team’s ability to capitalise on these opportunities, highlighting the strategic importance of the region and the company’s commanding position following recent tenement acquisitions and exploration work.

Incentivising Performance with Clear Milestones

Mitch Thomas’ remuneration package includes a base salary of A$300,000 plus statutory superannuation, complemented by a performance rights scheme designed to align executive incentives with company milestones. The rights vest upon achieving key targets such as completing a minimum 5,000-metre drilling program within 12 months, releasing a maiden JORC resource of at least 125,000 tonnes at 0.4% copper equivalent within 24 months, and reaching a market capitalisation of A$100 million within the same period.

This structured approach underscores Solis Minerals’ commitment to measurable progress and shareholder value creation under its new leadership.

Positioned for Growth Amid Copper Market Dynamics

With global copper demand poised to rise amid the energy transition and electrification trends, Solis Minerals’ strategic focus on Peru’s prolific copper belt positions it well to benefit from favourable market conditions. The appointment of Mitch Thomas, with his blend of financial acumen and operational experience in South America, signals a maturation in the company’s approach to project development and capital markets engagement.

Meanwhile, Mike Parker’s technical stewardship is expected to accelerate exploration outcomes, potentially unlocking new discoveries and enhancing resource confidence.

Investors will be watching closely as Solis embarks on this critical phase, where execution on drilling and resource definition will be key to validating the company’s growth narrative.