Mr. Chris Herald reports

SOLITARIO RESOURCES DISCOVERS GOLD IN FIRST THREE GOLDEN CREST DRILL HOLES

Solitario Resources Corp. has released the results of the first three core holes ever drilled on its Golden Crest project. All three holes intersected significant thicknesses of mineralization, with two of the holes displaying high-grade intercepts. Cross-sections of the three holes can be viewed on-line. This zone, although currently limited in size due to the lack of offset drilling, is laterally open in all directions. Highlights are shown in the attached table.

Chris Herald, president and chief executive officer of Solitario, stated: "These core holes represent a true new gold discovery that are potentially part of a major new district-scale extension of the Homestake-Wharf supergiant gold district. Considering that these are the first holes ever drilled on our huge 35,000-acre property, they are truly outstanding. Significant gold mineralization over substantial widths with excellent continuity was intersected in all three holes. Importantly, these results also confirm that the multiple high-quality surface anomalies we have generated during the past three years have the potential to have sizable subsurface roots in both grade and size.

"We also firmly believe the best is yet to come. This year's program is only testing two of our 10 best high-potential target areas. The other eight are still undergoing various stages of permitting with drilling planned on four more in 2025. We are also encouraged that other potential gold horizons below the mineralized Downpour zone are returning anomalous gold and trace element values. With additional drilling, we will have the ability to vector into significant mineralization in structures and multiple stratigraphic horizons that have been very productive in the historic Homestake-Wharf mining district. All mineralization encountered to date is oxidized."

What do these results mean and drilling details

Gold mineralization at Downpour occurs within an intensely brecciated evaporite stratigraphic horizon that has undergone significant silicification and hydrothermal alteration. This favourable zone is subhorizontal and appears to occur throughout Solitario's land position. Solitario has identified a number of other high-priority prospects in this favourable horizon. Besides the excellent grade and thickness of mineralization encountered in drilling, the potential for high-grade feeder structures is considered excellent.

All three core holes were drilled at the Downpour prospect from the same platform near exceptional gold assay results in trenches (previously reported). Total metreage for the first three holes is 963.5 metres. The company expects drilling to continue well into November. Remaining drilling consists of widely spaced holes over Solitario's vast 35,000-acre landholding. The company is on track to complete about a dozen core holes totalling up to 5,000 metres.

Golden Crest future drill hole plans

Solitario has identified 10 high-priority surface targets as shown in the attached table. Two of the targets, Downpour and Eleventh Hour, will be drilled this year. Four new targets are currently being permitted and are scheduled to be drilled in 2025. The other four high-priority targets may undergo future permitting after further review. Besides the 10 currently defined high-priority targets, Solitario has identified another dozen promising target areas that require additional surface exploration work. Three years of concentrated exploration surface work have defined approximately 80 square kilometres of gold-bearing hydrothermal alteration.

Permitting still at early stage for priority targets

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 have produced approximately 52 million ounces of gold and contain another 30 million ounces in historical resources (not S-K 1300 or National Instrument 43-101 compliant, and not on Solitario's property). 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, mineable gold deposits.

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

All Golden Crest exploration core samples have been prepared and analyzed at the American Assay Laboratories in Reno, Nev., which is independent from Solitario. Thorough QA/QC protocols are followed on the project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are collected directly from the drill rig, logged, photographed, split into two samples and one-half of each sample submitted directly to American Assay Labs through secure chain-of-custody protocols. All activities prior to shipment are directly supervised by Solitario geologists. Samples are pulverized from a 250-gram sample to 85 per cent passing 75 mesh. Approximately 225 g of pulp sample is used for fire assay. Assays are based on a 30 g fire assay aliquot for gold with atomic absorption finish. If the gold value from atomic absorption is greater than 10 g/t, an additional 30 g of pulp sample is fire assayed for gold using a gravimetric finish.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Sandor Ringhoffer, CPG, SME RM, a geologic consultant of Solitario, who is a qualified person as defined by NI 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 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) in 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 8.4 per cent (excluding options) of the company's 81.6 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately $8.3-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 it works. It 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 its joint venture projects but are leaders in the industry in this important segment of its business.

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