Mr. Chris Herald reports

SOLITARIO RESOURCES COMPLETES US$4.5 MILLION PRIVATE PLACEMENT

Solitario Resources Corp. has entered into non-brokered agreements with two investors for the purchase and sale of a total of 7,142,855 shares of company common stock, at a price of 63 U.S. cents per share for total gross proceeds of $4.5-million (U.S.). One of the investors is Newmont Overseas Exploration Ltd., a wholly owned subsidiary of Newmont Corp. Newmont is an existing Solitario shareholder having made prior strategic investments in Solitario, including its August, 2023, investment. The second investor is Wexford Capital Partners, a private investment firm.

Newmont financing

Newmont purchased 1,587,300 shares of the company's common stock at a price of 63 cents per share through a stock purchase agreement between the company and Newmont. With this new approximately $1.0-million (U.S.) investment, Newmont now holds a total of 8,453,967 shares of the company, or a 9.40-per-cent interest.

In connection with this new investment, the company and Newmont amended the investor rights agreement previously entered into by the parties in 2023 to grant Newmont certain additional investor rights.

Wexford financing

As part of the offering, Wexford purchased 5,555,555 shares of common stock of the company through a stock purchase agreement at a price of 63 U.S. cents per share for proceeds of $3.5-million (U.S.) to Solitario. Wexford now holds approximately a 6.2-per-cent interest in Solitario.

Chris Herald, president and chief executive officer of Solitario, stated: "We are delighted to welcome Wexford Capital to our growing list of institutional ownership. With Solitario's current cash position in excess of $9.0-million (U.S.), we now have the funding to conduct follow-up drilling not only on the existing Golden Crest plan of operations, but also the Ponderosa plan of operations, when approved. Drilling has been initiated on the Golden Crest project and we look forward to reporting progress throughout the remainder of the year."

The company did not engage an underwriter or registered placement agent for the offering, and there were no underwriter discounts or commissions or placement agent fees. 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. Additional information regarding the offering will be included in one or more reports to be filed by the company with the Securities and Exchange Commission and Canadian regulatory agencies, 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 projects. The company's common stock is traded on the New York Stock Exchange American (XPL) and on the Toronto Stock Exchange (SLR). Solitario owns a 100-per-cent interest in the 36,000-acre Golden Crest gold project in South Dakota. At Golden Crest, Solitario has discovered over 15 areas with gold mineralization at surface and is currently conducting a drilling program. In addition to its Golden Crest gold project, Solitario owns interests in the Florida Canyon and Lik joint venture projects. Solitario's management and directors hold approximately 8.61 per cent (excluding options) of the company's 89.96 million shares outstanding. Solitario's cash balance stands at approximately $9.0-million (U.S.).

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