Solitario Zinc Corp. reported that it has received additional assay results from trenching and surface rock sampling at the Spur Gold Zone and from a recently discovered gold-rich area to the east called Zig Zag. The Geyser, Spur and Zig Zag zones are new surface gold discoveries made during the 2022 field season on Solitario's Golden Crest project in South Dakota.

Highlights of newly released assays include: Spur Trench 1: 234 meters grading 0.82 grams per tonne ("gpt") gold consisting of a continuous channel of 78-three-meter samples predominantly from bedrock and open at both ends of the trench (the first 24 meters of this trench were previously reported). Zig Zag Trench 1: 27 meters grading 3.22 gpt gold consisting of a continuous channels of 9-three-meter samples primarily from bedrock and open at both end of the trench. Seventeen new widely-spaced select high-grade grab samples with assays above 5.0 gpt gold, including two from the new Zig Zag Gold Zone, are reported in this release and significantly expand the currently delineated higher-grade area.

These surface sample assays include: 5.6, 5.9, 7.5, 8.1, 9.5, 11.3, 13.4, 14.3, 14.5, 15.7, 16.8, 16.9 17.0 20.6, 24.0, 29.0, and 36.4 gpt gold. The combined Geyser-Spur-Zig Zag Gold Zone now encompasses an area approximately 800 x 700 meters with a significant population of multi-gram gold values in trench and surface rock grab samples. This large area of moderate-to-high-grade gold values remains open to expansion in all directions.

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 complete. The final Environmental Assessment evaluation 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 politically 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. The reported Spur and Geyser rock samples are mainly surface grab/float samples and were generally not collected from a bedrock source.

However, these samples are thought to be derived from the underlying bedrock in the immediate sampled area. Trenching at Spur and Zig Zag was conducted using handheld non-mechanized tools. The Spur and Zig Zag Zones trench samples were mostly from bedrock and disaggregated weathered bedrock with a minor soil component.

All sampling reported in this release was supervised by project geologists, including chain of custody. Reported rock samples often include reconnaissance select grab samples that usually display 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.

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.