High-Grade Drilling Results On Bongar Zinc Project

DENVER, CO - Solitario Exploration & Royalty Corp. reported that it has received assay results for 19 out of 52 core drill holes completed in the last five months on its high-grade Bongará zinc-lead project in northern Peru. Highlights include spectacular results from drill hole V-44 that cut 9.3 meters grading 37.27% zinc, 2.24% lead and 70.7 grams per tonne ("gpt") silver and hole V-165 that intersected 19.0 meters grading 12.82% zinc, 0.81% lead and 29.4 gpt silver. The 52-hole, 15,000 meter program was managed and entirely funded by Solitario's joint venture partner Votorantim Metais.
The Bongará project hosts the Florida Canyon zinc deposit where high-grade zinc mineralization has been intersected in drill holes over an area at least two-by-two kilometers in dimension. The deposit is open to expansion in all directions.
The 2008 drilling program focused upon two separate areas. Results included in this release are from a large area measuring 600 x 350 meters in the southern part of the known footprint of mineralization. This area previously contained only two drill holes along the margin of the deposit. A second area of drilling was infill of a portion of the central part of the previously completed drill pattern. Assay results are pending for this area.