American Marconi Wireless News - Solitario Advances 2026 Ponderosa Drilling Program

DENVER, CO / ACCESS Newswire / June 17, 2026 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce that its 2026 Ponderosa drilling program is well advanced on its 100%-owned Golden Crest gold project in South Dakota. Drilling began in the second half of May. Four core holes have now been completed, all in the Ponderosa area. Core samples from the first two holes have been shipped to the assay lab and samples from the second two holes are being prepared for shipment. Initial assay results are expected in early August.

Preparations for the first ever drilling at Solitario's 100%-owned Cat Creek critical metals project are nearly complete. Cat Creek is situated in south-central Colorado within the world-class Climax-Henderson-Questa molybdenum porphyry belt. Climax is the largest primary molybdenum deposit in the world, Henderson is third largest, and Questa is considered the eighth largest deposit.

The Cat project was originally discovered by Anaconda Copper (formerly one of the largest mining companies in the world) in the early 1980's. Anaconda conducted significant surface exploration, including detailed geologic mapping, geochemical sampling and an Induced Polarization geophysical survey. The project was slated for drilling in mid-1983, but due to the sale of Anaconda by its parent, Atlantic Richfield (ARCO), all company-wide exploration activities were shut down in early 1983. The property was never drill tested and no further exploration activities were subsequently conducted on the property.

Molybdenum is one of the most valuable industrial metals and rhenium is classified as a Critical Metal by the U.S. Geological Survey. Both are extensively used in the defense and aerospace industries for their unique properties as a steel additive imparting extremely high melting temperature, hardness and remarkable resistance to wear and corrosion. Molybdenum currently sells for approximately $40.00 per pound and rhenium prices are approximately $4.20 per gram.

Chris Herald, President and CEO of Solitario, stated: "With drilling now well advanced at the Ponderosa area of Golden Crest, and the soon to be initiated drilling at Cat Creek, we are excited that Solitario now has two active drilling programs and look forward to reporting our progress and results. Additionally, we continue to advance the drilling permit for our recently acquired Bright Angel copper-gold project in north-central Colorado. All three of our active 100% owned properties are situated in the United States where domestic policies favor nationally sourced critical metals."

Walt Hunt, a geologic consultant 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.

About Solitario

Solitario is a natural resource exploration company focused on high-quality Tier-1 gold, copper, zinc and critical metals (molybdenum and rhenium) projects. Solitario's 100%-owned Golden Crest properties in South Dakota constitute strategic land holdings (31,500 acres) along the western and southwestern extensions of the Homestake-Wharf mining district that has produced approximately 52 million ounces of gold.

In addition to its Golden Crest and Cat Creek projects, Solitario holds a 100% interest in the Bright Angel copper-gold project in Colorado. Solitario also has a 50% joint venture interest (Teck Resources 50%) in the high-grade Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources 61%) in the high-grade Florida Canyon zinc project in Peru. Both Florida Canyon and Lik represent advanced exploration projects with over $110 million spent collectively on the properties. Solitario is carried to production on its Florida Canyon project through its joint venture arrangement with Nexa.

The Company is traded on the NYSE American ("XPL") and the Toronto Stock Exchange ("SLR"). Newmont Corporation is Solitario's largest shareholder with 9.3% of the Company's 92.4 million shares outstanding. Solitario's Management and Directors hold approximately 8.0% (excluding options). Solitario's cash position stands at approximately US$9.2 million with no debt. Additional information about Solitario is available online www.solitarioresources.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 which we work. We are committed to conducting our business in a manner that supports positive environmental and social initiatives and responsible corporate governance. Importantly, we work with 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.

For More Information Please Contact:

Chris Herald, President and CEO
Solitario Resources Corp.
Tel. 303-534-1030 ext. 1

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 that are not historical facts. They are based 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 numerous risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events 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 exploration 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 of economic mineral deposits on Solitario's land position. Such forward-looking statements include, without limitation, statements regarding the Company's expectation 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 and 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 pandemics or similar epidemics; as well as those factors 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.

SOURCE: Solitario Resources Corp.

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L.Harper--AMWN