Mr. Christopher Herald reports

SOLITARIO ANNOUNCES GOLDEN CREST DRAFT ENVIRONMENTAL ASSESSMENT RELEASED BY UNITED STATES FOREST SERVICE

Solitario Zinc Corp. has noted that the Black Hills National Forest (BHNF), Northern Hills ranger district (United States Forest Service) has released the draft environmental assessment (EA) for exploration drilling on Solitario's Golden Crest exploration drilling project.

In the BHNF announcement of the EA, the proposed project is described as follows: "This project includes up to 25 core drilling sites for gold mineralization, access road maintenance (as needed) and reclamation activities. One staging area would be used to store equipment and supplies. Drill sites are primarily located in previously disturbed sites along existing roads and trails. No new road or trail construction is proposed. No mining, milling or processing is proposed as part of the project."

The 30-day comment period will end on June 8, 2023. The draft EA is available upon request and on-line at the U.S. Forest Service's website.

Chris Herald, president and chief executive officer of Solitario, stated: "We are pleased that the U.S. Forest Service has completed the EA and that the document is quite exhaustive in its analysis of our proposed drilling program. This is an important milestone in securing drilling permits to test this exciting new gold project. Solitario is committed to a best practices policy for all of its exploration activities on Forest Service lands. For example, all proposed drill hole locations are located on existing logging roads or other logging-related surface disturbances. In this way, drill hole sites eliminate new surface disturbance on public lands."

Project overview

Solitario's 100-per-cent-owned South Dakota properties collectively total over 33,000 acres and constitute strategic landholdings along the western and southwestern extensions of the Homestake-Wharf mining district, which has produced approximately 52 million ounces of gold and contains another 30 million ounces in historical resources. The project area is in a politically safe jurisdiction with highly developed infrastructure, an unbroken 145-year record of continuous gold mining, a skilled mining work force and a history of high-grade, underground mineable gold deposits.

About Solitario Zinc Corp.

Solitario is a natural resource exploration company focused on high-quality Tier 1 gold and zinc projects. The company is traded on the NYSE American and on the Toronto Stock Exchange. In addition to its South Dakota property holdings, Solitario holds a 50-per-cent joint venture interest (Teck Resources: 50 per cent) in the high-grade Lik zinc deposit in Alaska and a 39-per-cent joint venture interest (Nexa Resources holds the remaining 61-per-cent interest) on the high-grade Florida Canyon zinc project in Peru. Solitario is carried to production through its joint venture arrangement with Nexa. Solitario's management and directors hold approximately 9.2 per cent (excluding options) of the company's 65 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $4.8-million (U.S.).

Solitario has a long history of committed environmental, social and responsible governance (ESG) of its business. It realizes ESG issues are also important to investors, employees and all stakeholders, including communities in which the company works. Solitario is pledged to operate its business in a manner that supports environmental and social initiatives and responsible corporate governance. Importantly, the company selects joint venture partners that not only value the importance of ESG issues in the conduct of their business on the company's joint venture projects but are leaders in the industry in this important segment of Solitario's business.

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