Solitario Adds to Golden Crest Surface Trenching Results With 30.0 Meters Grading 11.1 GPT Gold

Solitario Adds to Golden Crest Surface Trenching Results

With 30.0 Meters Grading 11.1 GPT Gold

DENVER, CO – August 24, 2022 - Solitario Zinc Corp. (“Solitario”) (NYSE American: XPL;

TSX: SLR) is pleased to report that it has received assay results for an additional 19 surface trench

samples for its Golden Crest Project, South Dakota (see Downpour Zone Image for a detailed map

depicting the relative orientation of all four trenches). Trenching highlights include:

 Trench 1:

27.0 meters (90.0 ft.) @ 15.0 grams per tonne gold (“gpt”)

Additional new sampling at the western margin of Trench 1 increased the average grade

significantly and added to its length by 3.0 meters from the previously reported (March 1,

2022) 24.0 meters @ 9.69 gpt gold. Assays are pending for an additional extension of 6

meters of trenching immediately west of Trench 1.

 Trench 2:

30.0 meters (101.1 ft.) @ 11.1 gpt gold

Trench 2 is oriented roughly north-south and perpendicular to Trench 1. Assay results in

this trench consist entirely of newly reported assay intervals.

 Trench 3:

12.0 meters (40.4 ft.) @ 0.56 gpt gold

Trench 3 is situated 30 meters south of Trench 2. Assays are pending for the thirty meters

between Trench 2 and 3.

 Trench 4:

9.0 meters (30.3 ft.) @ 2.61 gpt gold

Trench 4 is situated about 9 meters east of Trench 1. Soil cover is too deep between Trench

1 and 4 to obtain a representative sample. Results are pending for 7 samples (21.0 meters)

east of Trench 4.

Assays for the 26 three-meter trench samples received to date at Downpour (18 new assay results

reported in this release and 8 previously reported assays from the M arch 1, 2022 release) are

provided in Table 1 and on the attached map (see Downpour Zone Image).

Chris Herald, President and CEO of Solitario, stated: “We’re off to a terrific start for the 2022 field

season. These trench results are the first gold assays collected and received from the 2022 field

season and significantly expand the footprint of high-grade gold mineralization discovered at the

Downpour prospect last year . The continuity of the higher-grade material is remarkable .

Approximately 250 additional rock and trench samples from other prospects have been collected

over a widespread area on Solitario’s land position. These samples are in-process for gold assays,

including another 69 meters of trenching samples at Downpour. W e look forward to reporting

significant new gold results for the remainder of the year.”

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Table 1: Downpour Zone Trench Assay Results

Sample From/To Length Gold Sample From/To Length Gold

Number Meters Meters GPT Number Meters Meters GPT

Trench 1*1 Trench 2

2722 0.0 – 3.0 3.0 57.80 2708 0.0 – 3.0 3.0 18.30

2628 3.0 – 6.0 3.0 6.45 2709 3.0 – 6.0 3.0 27.0

2629 6.0 - 9.0 3.0 4.78 2710 6.0 - 9.0 3.0 6.96

2630 9.0 – 12.0 3.0 7.47 2711 9.0 – 12.0 3.0 8.24

2631 12.0 – 15.0 3.0 12.00 2712 12.0 – 15.0 3.0 19.50

2632 15.0 – 18.0 3.0 20.70 2713 15.0 – 18.0 3.0 4.17

2633 18.0 – 21.0 3.0 3.13 2714 18.0 – 21 3.0 13.65

2634 21.0 – 24.0 3.0 13.80 2715 21.0 – 24.0 3.0 1.44

2635 24.0 – 27.0 3.0 9.15 2716 24.0 – 27.0 3.0 6.15

2717 27.0 – 30.0 3.0 5.57

Average 0.0 - 27 27.0 15.0 Average 0.0 – 30.0 30.0 11.1

Trench 3 Trench 4

2718 0.0 – 3.0 3.0 0.46 2723 0.0 – 3.0 3.0 3.66

2719 3.0 – 6.0 3.0 0.44 2724 3.0 – 6.0 3.0 0.26

2720 6.0 - 9.0 3.0 0.93 2725 6.0 - 9.0 3.0 3.92

2721 9.0 – 12.0 3.0 0.40

Average 0.0 - 12 12 0.56 Average 0.0 – 9.0 9.0 2.61

*1 samples 2628-2635 were previously reported in Solitario’s news release dated March 1, 2022

True width/ thickness of mineralization cannot be determined because of the lack of sufficient

outcrop.

Sampling Methodology, Chain of Custody, Quality Control and Assurance

The collection of a ll trenching samples reported in this release was supervised by project

geologists, including chain of custody. Trench samples were systematically collected using non-

mechanized hand tools. Continuous sampling was conducted along the length of each trench at

three-meter intervals. Samples were then categorized into one of the following three categories:

1. Bedrock: >75% is fresh massive bedrock with <25% weathered subcrop

2. Weathered Bedrock: +60% is blocky subcrop with minor fresh bedrock ribs and soil

3. C-Horizon Soil + Weathered Bedrock : +60% is rocky soil with up to 40% weathered

bedrock blocks

Bedrock and weathered bedrock were sampled by the chip channel method to the extent possible

and are judged to be representative of bedrock mineralization. All samples were analyzed by ALS

USA Inc., 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

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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 has advanced significantly since its initiation in the spring of 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 currently in progress. Core drilling is

scheduled to begin in the second quarter of 2023.

Solitario’s exploration programs in 2021 and 2022 have consisted of surface prospecting and a

pilot level induced polarization geophysical survey. Surface prospecting has included sampling of

bedrock, float rocks and soils. Future plans include additional geophysical surveys, geologic

mapping and continued surface sampling. Permitting has been initiated for a core drilling program

scheduled to be conducted next spring and summer.

The 28,000-acre Golden Crest property is located in southwestern S outh Dakota. Solitario’s

property position constitutes a 100%-owned strategic land position along the western extension of

the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold

with another 30 million ounces in historical resources. Approximately 60% of the land position is

subject to mining leases with a private party. 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.

About Solitario

Solitario is a natural resource exploration and development company focused on high-quality Tier-

1 gold and zinc projects. The Company is traded on the NYSE American (“XPL”) and on the

Toronto Stock Exchange (“SLR”). In addition to its Golden Crest project, Solitario holds 50%

joint venture interest (Teck Resources 50%) in the high -grade Lik zinc deposit in Alaska and a

39% joint venture interest (Nexa Resources holds the remaining 61% interest) on the high -grade

Florida Canyon zinc project in Peru. Solitario is carried to production through its joint venture

arrangement with Nexa. Solitario’s Management and Directors hold approximately 9.3%

(excluding options) of the Company’s 62 million shares outstanding. Solitario’s cash balance and

marketable securities stand at approximately US$6.5 million. Additional information about

Solitario is available online at www.solitariozinc.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 whic h we work . We are pledged to operate our

business in a manner that supports environmental and social initiatives and responsible

corporate governance. Importantly, we selected 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.

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For More Information Please Contact:

Christopher E. Herald

President & CEO

(303) 534-1030, Ext. 14

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 tha t are not historical fact s. They are base d 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 a number of risks and uncertainties. Consequently, there can be no assurances that such

statements will prove to be accurate and actual results and future ev ents 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 explora tion 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

economic mineral deposits on Solitario’s land position. Such forward-looking statements include,

without limitation, statements regarding the Company’s expec tation 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 an d 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 Covid -19 or

similar variants; as well as those facto rs 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.