Mr. Christopher Herald reports

SOLITARIO ADDS CRITICAL METALS PROJECT TO ITS PROPERTY PORTFOLIO; 2026 DRILLING PLANNED AT CAT CREEK PROJECT

Solitario Resources Corp. has secured drilling permits for its Cat Creek critical metals project in Colorado. The Cat Creek project represents a high-quality undrilled molybdenum-rhenium porphyry system.

The Cat Creek project was originally discovered by Anaconda Copper (formerly one of the largest mining companies in the world) in the early 1980s. Anaconda conducted significant surface exploration, including detailed geologic mapping, geochemical sampling and an induced polarization (IP) geophysical survey. The project was slated for drilling in mid-1983, but due to the sale of Anaconda by its parent, Atlantic Richfield (ARCO), all company-wide exploration activities were shut down in early 1983. The property was never drill tested and no further exploration activities were subsequently conducted on the property. Anaconda's project database was never publicly released.

Solitario signed a lease to acquire a 100-per-cent interest in the property in 2023 and has conducted confirmatory surface exploration. Both federal and state permitting has been completed, allowing for core drilling to begin mid-summer, 2026.

Molybdenum (Mo), besides being considered a strategic metal, is one of the most valuable industrial metals. It currently sells for approximately $25 per pound. Molybdenum's unique alloying properties for steelmaking -- high strength, hardness, heat resistance, corrosion protection and lubrication -- make it indispensable to multiple industries, such as oil and gas, aerospace, multiple defence applications, nuclear energy, and the construction and automotive industries.

Rhenium (Re) has recently been classified as a critical metal by the U.S. government. It is used extensively in the defence and aerospace industries because of its extremely high melting temperature, hardness and remarkable resistance to wear and corrosion. Some of its more critical uses are in jet and rocket engines, gas turbines for the power industry, and in advanced weapon systems. It is an extremely rare metal in nature and currently sells for about $4,200 per kilogram ($4.20 per gram), roughly 2.5 times the value of silver.

Chris Herald, president and chief executive officer of Solitario, stated: "Although the Golden Crest gold project has been, and remains, our primary focus, we have been quietly advancing the Cat Creek project for the past two years and are excited to able to drill test this large-scale drill target next year. With the current interest in domestic critical and strategic metals in the U.S., Cat Creek is an important new addition to our property portfolio.

"Colorado is home to two of the three largest primary molybdenum mines in the world, Freeport-McMoran's operating Climax and Henderson mines. Cat Creek is situated less than 150 miles south of these two mines and 80 miles north of the historically important Questa molybdenum mine (currently closed). Together, these three mines define a prolific molybdenum corridor, with Cat Creek being in the middle of this important trend.

"In addition to the Cat Creek's molybdenum potential, this system appears to be exceptionally well endowed with rhenium. Virtually all worldwide rhenium production comes as a byproduct of molybdenum mines. Sampling to date indicates that molybdenum-rich rocks at surface are also rhenium enriched, averaging approximately 30 [grams per tonne] Re, versus average Re grades of approximately 0.5 gpt Re for most molybdenum mines (normalized to a 0.10 per cent Mo grade)."

Anaconda's IP geophysical survey revealed a strong circular-shaped conductive body at depth underlain by a very resistive body. This mushroom-shaped geophysical pattern is consistent with a potentially mineralized underlying porphyry system approximately 800 metres in diameter and comparable with other large productive molybdenum systems.

Molybdenum-rhenium mineralization, although not common across the entire property, occurs at surface in several locations within a porphyry intrusive complex. Significant areas of intense clay-pyrite alteration are centred over a rhyolite, latite and monzonite porphyry complex. High-grade values of rhenium are associated with molybdenite mineralization comprising quartz-molydenite stockwork veins.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Walter Hunt, a qualified person as defined by Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Solitario Resources Corp.

Solitario is a natural resource exploration company focused on high-quality Tier 1 gold, zinc and molybdenum projects. Solitario's 100-per-cent-owned Golden Crest properties in South Dakota constitute strategic landholdings along the western and southwestern extensions of the world-class Homestake-Wharf mining district, which has produced approximately 52 million ounces of gold. The project area is located 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.

The company is traded on the NYSE American (XPL) and on the Toronto Stock Exchange (SLR). In addition to its Cat Creek and 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 8.0 per cent (excluding options) and Newmont Corp. owns 9.3 per cent of the company's 90.9 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $8.0-million (U.S.). Additional information about Solitario is available on-line on SEDAR+.

We seek Safe Harbor.