Solitario Updates Progress on Its Florida Canyon And Lik Zinc Projects With Drilling on Both Projects

DENVER, CO / ACCESSWIRE / July 24, 2023 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce the commencement of the 2023 work programs on its Florida Canyon zinc project in Peru and Lik zinc project in Alaska. Highlights of the planned 2023 program include drilling on both the Florida Canyon and Lik projects, and a new multi-year community agreement at Florida Canyon to support continued exploration.

Florida Canyon is held in a joint venture between Solitario (39%) and Nexa Resources (61%), the fifth largest zinc producer in the world (NEXA) ("Nexa"). The Lik project is held in a joint venture between Solitario (50%) and Teck American Incorporated (50%), a wholly owned subsidiary of Teck Resources Limited, the world's third largest zinc producer (TECK.A, TECK.B, and TECK) ("Teck").

Florida Canyon

Drilling is expected to begin at Florida Canyon by mid-August. Approximately 4,000 meters of core drilling is planned with the initial exploration targets being extensions of the high-grade Florida Canyon zinc deposit to the south. Additional drilling may be conducted in other areas in and around the Florida Canyon deposit.

Importantly, Nexa recently signed a community agreement that allows for continued exploration on the property to the end of 2025 and paves the way for the completion of an access road to local communities and active project areas. Several communities currently do not have road access and this agreement will significantly improve community safety and provide new opportunities for sustainable commerce in the future.

Permitting is nearly complete to significantly expand the area for drilling in 2024 and beyond. The new application will enlarge the area permitted for drilling by approximately 500 percent where over 80 new drill sites are proposed in areas to the south, east and southeast of the Florida Canyon deposit. Multiple drill holes can be completed from each site. Two multi-kilometer trends identified over the last two years of field work have undrilled high-grade zinc mineralization at surface comparable to the surface mineralization at Florida Canyon.

Chris Herald, President and CEO of Solitario, commented, "It is important to once again be advancing the Florida Canyon project after the significant impacts that Covid had on our work programs during the past several years. Completion of the access road to local communities that currently have no road access demonstrates the social commitment Nexa and Solitario have to improving the social conditions in the areas we work."