Mr. Chris Herald reports

SOLITARIO DISCOVERS THREE NEW MULTI-GRAM GOLD ZONES

Solitario Resources Corp. has discovered three new zones of high-grade surface gold on its Golden Crest project. These zones are named Holland, Top Dollar and Wildcat. Assay results from reconnaissance rock sampling of outcrop, subcrop and float yielded gold values as high as 57.9. 50.2. 42.7, 32.3 and 21.1 grams per tonne (gpt) gold within the three zones.

These three zones occur within an area approximately four square kilometres in size, between the Downpour and Sleeping Beauty targets. Assay results from these three zones total 203 samples and represent the final surface grab rock samples collected in the 2023 field season. Notable high-grade samples are presented in the attached table. Additionally, 51 of these samples contain greater than 0.2 g/t Au while 27 contain greater than one g/t Au.

Chris Herald, president and chief executive officer of Solitario, stated: "These are among the highest-grade samples collected during a first pass sampling program at a newly discovered target zone in the history of Golden Crest. It's amazing that after three field seasons, we are still discovering high-quality drilling targets displaying super high-grade gold values on the surface. We think there is a high probability that these three zones may coalesce into a single massive zone with additional work, just like the Geyser, Spur and Zig Zag zones came together. We now look forward to our drilling program at Golden Crest that is anticipated to begin in the first part of June."

All of these samples were collected from an arcuate belt of outcropping favourable Mission Canyon limestone 3.5 kilometres long and up to 1.0 km across. This belt is interpreted to ring the northern flank of a central structural dome cored by the underlying Lodgepole limestone in the highly mineralized Geyser-Sleeping Beauty zone. This dome is disrupted by a large normal fault on its western margin that may be continuous with the Downpour-Wild Rose fault further north and a prominent fault cutting the Geyser zone to the south. Further mapping and sampling of this structural zone will be a priority in the 2024 field season as it appears to influence the distribution of very high-grade gold mineralization over eight kilometers of strike length.

Golden Crest drill hole permitting and project overview

The newly discovered Holland, Top Dollar and Wildcat Gold zones, as well as the Sleeping Beauty and Geyser gold zones, are located on Solitario's new Ponderosa plan of operations (POO) in the easternmost portion of Solitario's consolidated Golden Crest property. The Ponderosa area is a contiguous group of mineral claims separate from and 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 these new gold targets.

Solitario's 100-per-cent-owned Golden Crest properties in South Dakota constitute strategic land holdings 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 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 mineable gold deposits.

Sample type, sampling methodology, chain of custody, quality control and assurance

The reported Holland, Top Dollar and Wildcat rock samples 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 mineable 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 81.3 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $9.6-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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