Mr. Chris Herald reports

SOLITARIO SIGNIFICANTLY EXPANDS GEYSER GOLD TARGET WITH NEW MULTI-GRAM GOLD ASSAY RESULTS - REMAINS OPEN IN TWO DIRECTIONS

Solitario Resources Corp. has significantly expanded, and better defined through infill rock sampling, the Geyser gold zone area on its Golden Crest project. Recently received assay results from reconnaissance rock sampling of outcrop, subcrop and float from the 2023 field season yielded gold values as high as 171.5 grams per tonne, 108 g/t, 78.6 g/t and 59.9 g/t gold.

Geyser was previously reported as three separate zones: Geyser, Spur and Zig Zag. Results from the 2023 reconnaissance rock grab sampling program resulted in these three zones coalescing into a single zone that is now solely referred to as the Geyser zone. The complete Geyser dataset from the 2022 and 2023 field seasons totals 515 rock grab samples. Ninety-nine of these samples have returned values in excess of one g/t gold, with 36 exceeding 10 g/t gold.

The table entitled "Geyser assay highlights for surface grab samples" presents the 12 highest-grade rock grab samples collected during each of the 2022 and the newly reported 2023 field seasons.

The Geyser zone is V-shaped and is believed to represent two intersecting structural trends. The west limb is a broad rectilinear zone that trends north-south, and is 1,200 metres long and up to 600 metres wide. At its southern end, a distinct, structurally controlled zone branches off to the northeast for 1,100 metres, forming the eastern limb of the V-shaped surface mineralization. This zone varies from 200 m to 400 m in width. A third, less-well-defined subzone exists east of this structure. The two primary limbs to the Geyser prospect are characterized by scattered, but widespread, high-grade gold values surrounded by large zones of lower-grade mineralization between 0.2 g/t to 2.0 g/t gold. Previously reported Spur trench 1 results, 0.82 g/t gold over a continuously sampled 234-metre trench in bedrock and subcrop, exemplifies this lower-grade halo (see Solitario new release dated Feb. 28, 2023).

Chris Herald, president and chief executive officer of Solitario, stated: "We believe Geyser has developed into one of the most exciting greenfields gold exploration targets in North America. Mineralization defined to date at Geyser displays a widespread distribution of very-high-grade gold in surface samples, within an overall halo of lower-grade gold. We remain amazed at the strength of this 80-square-kilometre hydrothermal gold system, and the fact that it remained undiscovered throughout the 150-year history of exploration and mining in the northern Black Hills.

"We are confident that with continued surface exploration, this strongly mineralized area will continue to expand. We are still receiving assay results for rocks collected during 2023 and anticipate releasing additional results in the next several weeks."

Golden Crest drill hole permitting and project overview

The Geyser gold zone is located on Solitario's new Ponderosa plan of operations (POO), which is located in the easternmost portion of Solitario's consolidated Golden Crest property. The Ponderosa area is a non-contiguous group of mineral claims not covered by the original Golden Crest POO, but is a part of Solitario's 100-per-cent-owned Golden Crest project area in South Dakota. The new Ponderosa POO proposes low-impact core drilling to test the Geyser gold zone and several other new gold targets.

In December, 2023, the United States Forest Service (USFS) issued its final environmental assessment (EA), and draft decision and finding of no significant impact (FONSI) on Solitario's proposed Golden Crest drilling program. As a result of this decision, no additional environmental studies beyond USFS's comprehensive EA is required. Currently, the USFS is finalizing its response to objections to its FONSI decision.

Solitario's 100-per-cent-owned Golden Crest properties in South Dakota constitute strategic landholdings along the western and southwestern extensions of the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold and contains another 30 million ounces in historical resources (not SK-1300 or National Instrument 43-101 compliant). The project area is in a safe jurisdiction with highly developed infrastructure, an unbroken 150-year record of continuous gold mining, a skilled mining work force and a history of high-grade, underground minable gold deposits.

Sample type, sampling methodology, chain of custody and quality assurance/quality control (QA/QC)

The reported Geyser rock assays are all surface rock grab/float samples consisting of near-bedrock float samples, and, to a lesser extent, bedrock and subcrop composite grab samples. All float samples are thought to be derived from the underlying bedrock within the immediate sampled area. All sampling reported in this release was supervised by project geologists, including chain of custody. Rock samples are reconnaissance select grab samples that display alteration, usually silicification and hydrothermal brecciation.

The significance of these results is limited to determining whether gold, or trace elements usually associated with gold, are present within rocks affected by hydrothermal alteration fluids. Assay results may not be representative of, nor verify economically minable mineralization. Samples were analyzed by ALS Laboratories in Reno, Nev., a laboratory accredited in accordance with the standards of ISO 17025:2017. The samples were crushed and pulverized, and sample pulps were analyzed using industry-standard fire assay methods. A certified reference sample or duplicate was inserted at least every 20th sample.

Walter Hunt, chief operating officer of Solitario, is a qualified person as defined by NI 43-101 -- Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.

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 NYSE American (XPL) and on the Toronto Stock Exchange (SLR). 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 61 per cent) on the high-grade Florida Canyon zinc project in Peru. At Florida Canyon, Solitario is carried to production through its joint venture arrangement with Nexa. Solitario's management and directors hold approximately 9.3 per cent (excluding options) of the company's 79.1 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $8.7-million (U.S.).

Solitario has a long history of committed environmental, social and responsible governance (ESG) of its business. The company realizes ESG issues are also important to investors, employees and all stakeholders, including communities in which it works. Solitario is committed to conduct its business in a manner that supports positive 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 Solitario's joint venture projects but are leaders in the industry in this important segment of the company's business.

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