XPL News & Events

Solitario Resources announced 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 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, 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, 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."

Solitario Resources Corp. (XPL) announce the purchase and sale of 305,195 shares of Company common stock, at a price of $0.77 per share for total gross proceeds of $235,000. The Sale was made under the terms of the Amended and Restated Investor Rights Agreement dated June 11, 2025 between Solitario and Newmont Overseas Exploration (NEM). Newmont chose to exercise a right to acquire the Shares as permitted by the IRA at the average price of shares sold through Solitario's at-the-market program sales from Nov. 13, 2025, through April 6, 2026. Upon the issuance of the Shares, Newmont will hold 8,759,162 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.

Solitario Resources filed a Plan of Operations with the USFS to conduct core drilling on its Bright Angel gold-copper project in Colorado. Solitario's proposed maiden drilling program represents the first drilling to be conducted on the property since 1970 when Anaconda Copper drilled 11 core holes. At Bright Angel, mineralized porphyry stockwork contains significant values of gold and copper at surface. Mineralization has been traced over an area approximately 750 meters long and up to 600 meters wide. Chris Herald, President and CEO of Solitario, stated, "With both gold and copper trading near all-time highs, and copper being designated as a critical metal by the U.S. government, we are very excited to move this project forward. Results from previous drilling point to a definitive, and potentially significant, gold-copper porphyry target. We believe that Bright Angel represents an alkalic pipe-like porphyry characterized by high grades for both gold and copper with deep roots. Over the years, the industry's understanding of porphyry copper systems has evolved considerably. It is now recognized that an alkalic subclass, first clearly documented at the world-class Ridgeway-Cadia system in Australia, commonly hosts pipe-like geometries, with higher copper and gold grades than calc-alkaline copper porphyry systems common in the Arizona and Chilean copper belts. We look forward to working with the US Forest Service in executing an environmentally sound program that protects surface and water resources. The plan envisions very limited surface impacts with all drill holes completed to state and federal abandonment standards to protect ground water systems."

Solitario Resources announced that the U.S Forest Service - Northern Hills District, has issued its Decision Memo for Solitario's Ponderosa drilling program in South Dakota. The Decision Memo documents the completion of the NEPA process for the project. Subject to Solitario incorporating several additional design features into the Plan and submitting these modifications to the US Forest Service, Solitario can proceed with its drilling program in mid-May. The Ponderosa prospect displays the largest high-grade gold area discovered to date on the Golden Crest property position. Surface rock grab samples containing multi-gram gold are scattered over an area nearly 2.0 x 1.5 kilometers in size. Forty-nine drill platforms were approved in the Ponderosa permit.