Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) is expanding beyond Peru and into Brazil's fast-emerging lithium sector through the acquisition of a large-scale exploration package in Minas Gerais, a move that broadens its exposure across battery metals and adds a second growth front alongside its copper portfolio.
The company has struck a deal to acquire 100% of the Brazil Lithium Project from a Rio Tinto subsidiary, securing a 93,000-hectare landholding in the Araçuaí-Salinas Lithium Valley, one of the world's most active hard-rock lithium districts.
The project sits in Minas Gerais in eastern Brazil, adjacent to tenure held by PLS Group following its acquisition of Latin Resources and the Colina lithium project, placing Solis in a proven address for spodumene discoveries.
Araçuaí–Salinas Lithium Valley (illustrative). Regional spodumene operations (including Sigma Lithium's Grota do Cirilo) and advanced projects, including PLS' Colina Lithium Project.
The acquisition marks a strategic diversification step. The company has been building out a copper exploration portfolio in Peru , with drilling planned at projects including Cinto and Cucho. Its entry into Brazil, adds lithium exposure to that broader energy metals strategy. It also gives the company a foothold in a district where members of the Solis leadership team have previously been involved in exploration success.
Solis Minerals' Brazilian lithium and Peruvian copper projects.
"The Brazil Lithium Project gives a substantial and strategic foothold in one of the world's emerging hard rock lithium districts, directly alongside ground where our leadership team has previously delivered major lithium exploration success. This high potential asset complements our copper portfolio and positions us with a diversified pipeline of high-impact energy metal opportunities,"Solis CEO Mitch Thomas said.
Low-cost entry into a proven lithium district
Solis is acquiring the project for US$500,000, with Rio Tinto to retain a 1.75% net smelter return royalty. The deal covers 53 granted exploration claims and is expected to complete following a 14-day legal due diligence period and standard regulatory approvals.
The company has framed the deal as a relatively low-cost way to secure district-scale ground with existing technical work already completed. Historical work by Rio Tinto included auger drilling, soil sampling and rock-chip sampling across multiple target areas, providing Solis with a substantial early-stage dataset to build on.
That dataset points to encouraging lithium anomalism across several prospects. Soil samples returned up to 362 parts per million lithium at Mandacaru and up to 276ppm lithium at Campo Grande, while auger drilling returned up to 338ppm lithium at Mandacaru and 294ppm lithium at Campo Grande. Solis said these results compare favourably with early anomalies associated with the nearby Colina discovery.
Mandacaru and Campo Grande
The immediate focus will be on two high-priority targets, Mandacaru and Campo Grande, where Solis believes geochemical and structural signatures are already strong enough to support drill planning.
Mandacaru is shaping up as the lead target, with the strongest soil and rock anomalism in the project area as well as mapped pegmatite and aplitic float. Campo Grande has also been highlighted on the back of elevated soil, rock and auger results, with geological features considered consistent with evolved lithium-caesium-tantalum pegmatite systems.
Other targets including Lagoinha and Lajedo remain in the pipeline as moderate-priority areas, while Tabatinga, Floresta and Faceiro are considered lower-priority but still prospective.
March 2026 – field visit to the Brazil Lithium Project (Mandacaru) led by non-executive director Tony Greenaway and supported by a Brazilian geology team. Pegmatites visible in the target.
"This Brazilian Lithium Project acquisition allows Solis Minerals to potentially provide its shareholders significant upside in the event of a lithium discovery. The timing of the acquisition is outstanding as the lithium price continues to rise with supply weakening and demand strengthening. I have a sense of deja-vu due to the Solis Minerals management team having previously made a significant lithium discovery in the same region," chairman, Chris Gale, said.
What's next
Over the next six months, Solis plans to carry out more detailed surface work including geological mapping, geochemical sampling and potentially drone-based magnetic and topographic surveys to sharpen targeting ahead of drilling.
The initial drilling campaign is expected to comprise about 13 shallow diamond holes for roughly 2,000 metres across Mandacaru and Campo Grande, using man-portable rigs. That first-pass program is designed to test the main anomalies, better understand the underlying geology and guide any follow-up drilling later in 2026.
The acquisition also comes with a collaboration agreement involving PLS, Solis' largest shareholder, under which PLS will have a participation right in any future transaction involving the tenements if a bona fide third-party offer emerges.
For now, though, Solis' next step is clear: turn historical Rio Tinto work into drill-ready lithium targets and test whether its new Brazilian ground can deliver a discovery.
