Mr. Chris Herald reports

SOLITARIO COMMENCES DRILLING ON ITS GOLDEN CREST GOLD PROJECT

Solitario Resources Corp. has begun core drilling on its 100-per-cent-owned Golden Crest gold project in South Dakota. Phase 1 of the 2024 drilling program consists of drilling approximately 10 to 12 holes totalling 5,000 metres. The first area to be drill tested is the high-grade Downpour zone, where trenching and surface rock sampling have revealed high-grade gold at surface. Assay highlights of the trenching program are as shown in the attached table.

Downpour trenching results (previously released)

In addition to the high-grade trenching results, surface grab sampling of the area surrounding the trenches revealed significant gold values over a corridor of approximately 800 metres long and up to 500 metres wide. Within this zone, 37 select surface grab samples were collected and displayed the following gold-grade distributions (previously released results):

• 7 samples above 10 grams per tonne gold;
• 16 samples above three grams per tonne gold;
• 25 samples above one gram per tonne gold.

Chris Herald, president and chief executive officer of Solitario, stated: "With the drill now turning, we are beginning a new phase in the exploration of our Golden Crest project. It is remarkable that such a large, well-endowed gold region has never been drill tested, especially one that is situated so close to one of America's largest historic gold districts, the Homestake-Wharf mining complex. We are excited to begin drilling at Golden Crest and look forward to reporting our progress and results."

Sampling methodology, chain of custody, quality control and quality assurance

The collection of all trench and surface rock samples was supervised by project geologists, including chain of custody. Rock samples were reconnaissance select grab samples that display alteration, usually silicification and hydrothermal brecciation. These samples were derived mainly from residually weathered rock fragments, subcrop and, less commonly, outcrop. The significance of these samples is limited to determining whether gold (or trace elements usually associated with gold) is 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 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.

Sandor Ringhoffer, CPG, SME RM, is a geologic consultant of Solitario and a qualified person as defined by National Instrument 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. 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, which has produced approximately 52 million ounces of gold and is reported to contain another 30 million ounces in historical resources (not SK-1300 or NI 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 minable gold deposits.

The company is traded on the NYSE American (under the symbol XPL) and on the Toronto Stock Exchange (under the symbol SLR). In addition to its South Dakota propertyholdings, 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 9.1 per cent (excluding options) of the company's 81.4 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $9.3-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 the company works. Solitario is committed to conducting its business in a manner that supports positive environmental and social initiatives and responsible corporate governance. Importantly, Solitario works with joint venture partners that not only value the importance of ESG issues in the conduct of their business on the company's joint venture projects but are leaders in the industry in this important segment of Solitario's business.

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