Solitario reports results from Spur area in Geyser Gold Zone

Solitario Zinc reports that it has received results from a new high-grade gold area, called Spur, south of the recently announced Geyser Gold Zone. The combined Geyser-Spur Gold Zone represents a significant expansion to the original Geyser high-grade area. The broadened area remains open to expansion in all directions with many peripheral assays pending. It is important to note the Geyser-Spur Gold Zone is more than 4.0 kilometers from our previously announced high-grade Downpour Gold Zone, all of which are a part of Solitario’s 33,000-acre land holdings in South Dakota. Also, final Downpour channel sample assay results were received and increased the length of high-grade mineralization in two of the trenches. New surface sampling results, as well as previously reported results can be viewed on the attached Geyser-Spur Zone Map. New sampling highlights include: The new Spur assay results have expanded the footprint of gold mineralization to an area measuring approximately 650 x 225 meters from the previously reported oval-shaped area measuring 225 x 125 meters. Fourteen new select grab surface samples averaged 6.8 grams per tonne gold within the expanded footprint. This new high-grade zone, called Spur, measures approximately 150 x 120 meters. Initial trenching assay results yielded a continuous mineralized zone 24 meters long, averaging 1.11 gpt gold. These results correlated well with the two nearest surface grab rock samples of 1.2 gpt gold, situated to the north, and 0.9 gpt gold sample to the south. Assay results are pending for a much larger area surrounding the Geyser-Spur Zone. At Downpour, 3.0 meters grading 15.4 gpt gold were added to Trench 1 bringing the total length to 36 meters grading 17.6 gpt gold and 3.6 meters grading 25.6 gpt gold were added to Trench 5 bringing the total length to 15.6 meters grading 17.1 gpt gold. Chris Herald, President and CEO of Solitario, stated: "These two new high-grade discoveries, the Geyser and adjacent Spur Zone, display average surface grab sample grades of 28.6 and 6.8 gpt gold, respectively. The combined mineralized surface area now measures 650 x 225 meters and remains open in all directions. We anticipate the Geyser-Spur Zone will continue to expand as we receive new assay results peripheral to these reported samples. It is also very encouraging to see the strong correlation of assay grades between our surface grab samples and our initial trenching results at Geyser-Spur. The first eight three-meter trench samples (a continuous 24-meter trench) averaged 1.1 gpt gold and the two nearest surface samples graded 1.2 and 0.9 gpt gold. At Downpour, our high-grade select surface grab samples also had great correlation with trench samples. We look forward to releasing additional assay results as they become available. Finally, drill hole permitting continues to progress and we are still on schedule for a second quarter 2023 completion date for the Environmental Assessment."