Mr. Chris Herald reports

SOLITARIO COMPLETES US$4.75 MILLION PRIVATE PLACEMENT

On Oct. 13, 2023, Solitario Resources Corp. completed a private placement of 8,631,818 shares of common stock of the company, at a price of 55 U.S. cents per share for total net proceeds of $4,747,500 (U.S.). The offering involved qualified non-United States investors and was pursuant to one or more exemptions from registration under U.S., Canadian and other applicable law.

The company did not engage an underwriter or placement agent for the offering, and there were no underwriter discounts or commissions or placement agent fees, and no warrants were issued. The net proceeds of the offering will be used to advance the company's exploration activities at its core projects and for general corporate purposes.

Chris Herald, president and chief executive officer of Solitario, stated, "This financing significantly enhances our existing cash and marketable securities balance to approximately $9.5-million (U.S.) and allows us to more rapidly advance and fund our core exploration projects in 2024."

Additional information regarding the private placement will be included in one or more reports to be filed by the company with the Securities and Exchange Commission, and this press release is subject to the further detail provided in such reports.

About Solitario Resources Corp.

Solitario is a natural resource exploration company focused on high-quality Tier 1 gold and zinc exploration projects. The company is traded on the New York Stock Exchange (XPL) and on the Toronto Stock Exchange (SLR). In addition to its advanced Florida Canyon and Lik joint venture zinc projects, Solitario owns a 100-per-cent interest in the 33,000-acre Golden Crest gold project in South Dakota.

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