Solitario Resources Corp. reported that it has discovered another high-grade gold zone on its Golden Crest project, named Sleeping Beauty. Recently received assay results from reconnaissance rock sampling of outcrop, sub-crop and float from the 2023 field season yielded gold values as high as 39.6, 24.6 and 16.6 grams per tonne ("gpt") gold.

Sleeping Beauty is situated on a topographic plateau underlain by the same favorable limestone found at the high-grade Geyer gold zone, which is located about 500 meters to the south. The two zones are separated by a shallow valley, where mineralization is considerably weaker at surface and rock outcrops are absent. Although the Sleeping Beauty zone has an apparent east-west orientation, the overall trend of mineralization over a larger scale area is thought to be generally in a northeast-southwest direction.

Approximately 135 samples were collected and assayed from the Sleeping Beauty topographic plateau area (see map). Twenty-eight of these samples assayed greater than 1.0 gpt gold, with 65 samples greater than 0.2 gpt gold. Within the 1600-meter-long trend, there are five clusters of higher-grade gold.

The highest-grade cluster measures 170 by 260 meters and is open in all directions. The average grade of all 14 grab samples collected in this high-grade cluster is 7.12 gpt gold. The Sleeping Beauty and Geyser gold zones are located on Solitario's new Ponderosa Plan of Operations (POO) in the easternmost portion of Solitario's consolidated Golden Crest property.

The Ponderosa area is a non-contiguous group of mineral claims not covered by the original Golden Crest POO but is a part of Solitario's 100%-owned Golden Crest project area in South Dakota. The new Ponderosa POO proposes low-impact core drilling to test the Geyser gold zone and several other new gold targets. In December 2023, the United States Forest Service ("USFS") issued its final Environmental Assessment ("EA") and Draft Decision and Finding of No Significant Impact (FONSI) on Solitario's proposed Golden Crest drilling program.

As a result of this decision, no additional environmental studies beyond USFS's comprehensive EA is required. Currently, the USFS is finalizing its response to objections to their FONSI decision. Solitario's 100%-owned Golden Crest properties in South Dakota 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 (not SK-1300 or NI-4301 compliant).

The project area is in a safe jurisdiction with highly developed infrastructure, an unbroken 150-year record of continuous gold mining, a skilled mining workforce, and a history of high-grade, underground mineable gold deposits. The reported Sleeping Beauty rock samples are all surface rock grab/float samples consisting of near-bedrock float samples, and to a lesser extent, bedrock and sub-crop composite grab samples. All float samples are thought to be derived from the underlying bedrock within the immediate sampled area.

All sampling reported in this release was supervised by project geologists, including chain of custody. Rock samples are reconnaissance select grab samples that display alteration, usually 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.