DENVER, CO / ACCESSWIRE / December 6, 2021 / Solitario Zinc Corp. ("Solitario" or the "Company") (NYSE American:XPL)(TSX:SLR) is pleased to announce that it has entered into agreements with investors for the purchase and sale of an aggregate of 3,100,000 shares of common stock of the Company (the "Shares"), at a price of $0.50 per share (the "Offering"). The Company did not engage an underwriter or placement agent for the Offering, and therefore there were no underwriter discounts or commissions or placement agent fees. No shares purchase warrants were issued in connection with the Offering. The net proceeds of the Offering will be used for additional working capital and general corporate purposes.

The sale of the Shares was made through a subscription agreement between the Company and each respective investor. The Shares were offered and sold pursuant to the Company's existing shelf registration statement on Form S-3 (File No. 333-249129), which was initially filed with the Securities and Exchange Commission (the "SEC") on September 29, 2020 and declared effective by the SEC on October 8, 2020. The Company filed a prospectus supplement, dated December 1, 2021, with the SEC in connection with the sale of the securities in the Offering.

The three executive officers of the Company participated in the Offering, purchasing 50,000 Shares each, on the same terms as the other investors. The Offering was unanimously approved by the Company's Board of Directors and the insider participation was also unanimously approved by the Audit Committee of the Board of Directors.

Chris Herald, President and CEO of Solitario, stated: "This financing was done to enhance our existing cash and marketable equity securities balance, which is now approximately $7.0 million, as well as to demonstrate the confidence we have in our projects, especially at our Golden Crest Project, where we have collected and reported multi-gram gold samples in the shadow of a +70-million-ounce gold district. Solitario intends to move forward with more advanced exploration efforts at Golden Crest, including a drill program for 2022, pending completion of permitting. We firmly believe that the Golden Crest project could emerge into one of the most important greenfield exploration projects in North America."

About Solitario

Solitario is an emerging zinc and gold exploration and development company traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its Golden Crest project, Solitario holds 50% joint venture interest (Teck Resources 50%) in the high-grade, open-pittable Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources holds the remaining 61% interest) on the high-grade Florida Canyon zinc project in Peru. Solitario's Management and Directors hold approximately 9.2% (excluding options) of the Company's 62.0 million shares outstanding. Additional information about Solitario is available online at www.solitariozinc.com.