Solitario Zinc Corp. report that it has discovered a new area of high-grade gold and silver mineralization at surface and has significantly expanded its land position in South Dakota. Assay results on the new property for eight samples range from 1.1 grams per tonne ("gpt") gold to 94.2 gpt gold.

The average gold content of these samples is 29.8 gpt and the average silver mineralization is 71.1 gpt. The new high-grade gold prospect is named Geyser and sampling to date covers an area approximately 90 x 60 meters. Solitario Increases its Land Position With the acquisition of the Ponderosa Property, Solitario increased its South Dakota land position from approximately 28,000 to 33,280 acres totaling over 1,700 mining claims. Sample Type, Sampling Methodology, Chain of Custody, Quality Control and Assurance The reported Geyser rock assays are all surface rock grab/float samples and were not collected from a bedrock source.

However, these samples are thought to be derived from the underlying bedrock in the immediate 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 and assay results may not be representative of, nor verify economically mineable mineralization. Samples were analyzed by ALS Laboratories in Reno, NV, 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, COO 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. Drill Hole Permitting and Project Overview Drill hole permitting continues to advance on Solitario's Golden Crest Property since its initiation in February 2022, when a Plan of Operations was filed with the U.S. Forest Service.

Environmental baseline studies, in support of permitting documents required for drilling, are nearly complete. The final Environmental Assessment work for core drilling is scheduled to be completed in the second quarter of 2023. Solitario's 100%-owned South Dakota properties collectively total over 33,000 acres and 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.

The project area is in a safe jurisdiction with highly developed infrastructure, an unbroken 145-year record of continuous gold mining, a skilled mining workforce, and a history of high-grade, underground mineable gold deposits.