Arizona Tribune - Solitario Receives Positive USFS Decision Memo Approving its Ponderosa Drilling Plan of Operations

The Ponderosa prospect displays the largest high-grade gold area discovered to date on the Golden Crest property position. Surface rock grab samples containing multi-gram gold are scattered over an area nearly 2.0 x 1.5 kilometers in size. Forty-nine drill platforms were approved in the Ponderosa permit.

Chris Herald, President and CEO of Solitario, stated: "We are excited to initiate drilling on the Ponderosa area of the Golden Crest project where we have defined multiple outstanding drill targets during the past couple of years. Phase-One of the 2026 drilling program consists of 5,000 meters of drilling, and we are prepared to quickly expand the scope of Phase-One drilling should early results warrant. We now look forward to reporting our progress and results.

Our exploration team designed a comprehensive program that protects the environment, including water and surface resources, and the safety and health of our employees and other parties using the forest. The U.S. Forest Service has thoroughly vetted our proposed surface activities and impacts, solicited stakeholder input and incorporated modifications to the original plan as required under US Forest Service regulations. In addition, the South Dakota Department of Agriculture & Natural Resources has also provided input and guidance to our proposed drilling activities to ensure compliance with all state regulations, especially as it pertains to ensuring ground water quality. We are confident that we will be able to execute our program in a safe and responsible manner."

About Solitario

Solitario is a natural resource exploration company focused on high-quality Tier-1 gold, copper, zinc, silver and critical metals (molybdenum and rhenium) projects. Solitario's 100%-owned Golden Crest properties in South Dakota constitute strategic land holdings (31,500 acres) along the western and southwestern extensions of the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold. Golden Crest is scheduled for a major drilling campaign in 2026.

In addition to its Golden Crest project, Solitario holds a 100% interest in the Cat Creek critical minerals project (molybdenum-rhenium) and 100% interest in its Bright Angel gold-copper project, both in Colorado. Solitario also has a 50% joint venture interest (Teck Resources 50%) in the high-grade Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources 61%) in the high-grade Florida Canyon zinc project in Peru. Both Florida Canyon and Lik represent advanced exploration projects with over $110 million spent collectively on the properties. Solitario is carried to production on its Florida Canyon project through its joint venture arrangement with Nexa.

The Company is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). Solitario's Management and Directors hold approximately 8.0% (excluding options) and Newmont Corporation owns 9.3% of the Company's 92.1 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately US$8.3 million. Additional information about Solitario is available online at www.solitarioresources.com.

Solitario has a long history of committed Environmental, Social and Responsible Governance ("ESG") of its business. We realize ESG issues are also important to investors, employees, and all stakeholders, including communities in which we work. We are committed to conducting our business in a manner that supports positive environmental and social initiatives and responsible corporate governance. Importantly, we work with joint venture partners that not only value the importance of ESG issues in the conduct of their business on our joint venture projects but are leaders in the industry in this important segment of our business.

For More Information Please Contact:

Chris Herald, President and CEO
Solitario Resources Corp.
Tel. 303-534-1030 ext. 1

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934, and as defined in the United States Private Securities Litigation Reform Act of 1995 (and the equivalent under Canadian securities laws),that are intended to be covered by the safe harbor created by such sections. Forward-looking statements are statements that are not historical facts. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and address activities, events or developments that Solitario expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Forward-looking statements involve numerous risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Solitario's Golden Crest land position does not cover any of the areas of historical gold production or historical unmined resources. Certain historical information concerning exploration and gold production in the Black Hills region has been obtained through both public and private sources and are believed to be substantially factual, but Solitario can give no assurances of the accuracy of such information. The existence of historic mines and resources adjacent to Solitario's land position do not necessarily support the existence of economic mineral deposits on Solitario's land position. Such forward-looking statements include, without limitation, statements regarding the Company's expectation of the projected timing and outcome of engineering studies; expectations regarding the receipt of all necessary permits and approvals to implement a mining plan, if any, at any of its mineral properties. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, risks relating to risks that Solitario's and its joint venture partners' exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of zinc, gold, lead and silver; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; availability of outside contractors, and other activities; uncertainties relating to obtaining approvals and permits from governmental regulatory authorities; the possibility that environmental laws and regulations will change over time and become even more restrictive; and availability and timing of capital for financing the Company's exploration and development activities, including uncertainty of being able to raise capital on favorable terms or at all; risks relating to the impacts of pandemics or similar epidemics; as well as those factors discussed in Solitario's filings with the U.S. Securities and Exchange Commission (the "SEC") including Solitario's latest Annual Report on Form 10-K and its other SEC filings (and Canadian filings) including, without limitation, its latest Quarterly Report on Form 10-Q. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

SOURCE: Solitario Resources Corp.

View the original press release on ACCESS Newswire

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