American Marconi Wireless News - Solitario Resources Announces Share Issuance to Newmont Under Amended Investor Rights Agreement

Upon the issuance of the Shares, Newmont will hold 8,894,911 shares of Solitario common stock or approximately 9.4% of the outstanding shares maintaining Newmont's interest prior to the current period's at-the-money program.

Chris Herald, President and CEO of Solitario, stated: "We are delighted that Newmont elected to exercise its right to maintain its ownership stake in Solitario and its equity ownership in Solitario."

The Company did not engage an underwriter or registered placement agent for the Sale, and there were no underwriter discounts or commissions or placement agent fees. The net proceeds of the Sale will be used to advance the Company's exploration activities at its core projects and for general corporate purposes. Additional information regarding the Sale will be included in one or more reports to be filed by the Company with the Securities and Exchange Commission and United States and Canadian regulatory agencies, and this press release is subject to the further detail provided in such reports.

About Solitario

Solitario is a natural resource exploration company focused on high-quality Tier-1 gold and zinc projects. The Company's common stock is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its Florida Canyon and Lik joint venture projects, Solitario owns a 100% interest in the 30,000-acre Golden Crest gold project in South Dakota, a 100% interest in its Cat Creek and Bright Angel exploration projects in Colorado. At Golden Crest, Solitario has discovered over fifteen areas with potential gold mineralization at surface and has recently concluded it phase one drilling program to test for gold in the sub-surface. Solitario's Management and Directors hold approximately 7.7% (excluding options) of the Company's 94.8 million shares outstanding. Solitario's cash balance stands at approximately US$7.6 million. Additional information about Solitario is available online at solitarioxr.com.

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. 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; as well as those factors discussed in Solitario's filings and reports 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.

View the original press release on ACCESS Newswire

D.Kaufman--AMWN