Solitario Zinc Corp. has received results from a new high-grade gold area, called Spur, south of the recently announced Geyser Gold Zone. The combined Geyser-Spur Gold Zone represents a significant expansion to the original Geyser high-grade area.

The broadened area remains open to expansion in all directions with many peripheral assays pending. It is important to note the Geyser-Spur Gold Zone is more than 4.0 kilometers from previously announced high-grade Downpour Gold Zone, all of which are a part of Solitario's 33,000-acre land holdings in South Dakota. New surface sampling results, as well as previously reported results can be viewed on the attached Geyser-Spur Zone Map.

New sampling highlights include: The new Spur assay results have expanded the footprint of gold mineralization to an area measuring approximately 650 x 225 meters from the previously reported oval-shaped area measuring 225 x 125 meters. Fourteen new select grab surface samples averaged 6.8 grams per tonne ("gpt") gold within the expanded footprint. This new high-grade zone, called Spur, measures approximately 150 x 120 meters.

Initial trenching assay results yielded a continuous mineralized zone 24 meters long, averaging 1.11 gpt gold. These results correlated well with the two nearest surface grab rock samples of 1.2 gpt gold, situated to the north, and 0.9 gpt gold sample to the south. Assay results are pending for a much larger area surrounding the Geyser-Spur Zone.

At Downpour, 3.0 meters grading 15.4 gpt gold were added to Trench 1 bringing the total length to 36 meters grading 17.6 gpt gold and 3.6 meters grading 25.6 gpt gold were added to Trench 5 bringing the total length to 15.6 meters grading 17.1 gpt gold. Drill Hole Permitting and Project Overview: Drill hole permitting continues to advance on Solitario's Golden Crest Property since its initiation in February 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 complete.

The final Environmental Assessment evaluation for core drilling is scheduled to be completed in the second quarter of 2023. Solitario's 100%-owned South Dakota properties collectively total over 33,000 acres and 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. 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.

Sample Type, Sampling Methodology, Chain of Custody, Quality Control and Assurance: The reported Spur and Geyser rock assays are all surface rock grab/float samples and were generally not collected from a bedrock source. However, these samples are thought to be derived from the underlying bedrock in the immediate area. The eight Spur Zone trench samples were mostly from weathered disaggregated rock fragments, all believed to be locally derived.

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 and 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.

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.