Exploration Work Has Commenced On Lik Zinc Project

DENVER, CO - Solitario Zinc Corp. reported that exploration work has commenced on the Lik zinc project in Alaska. Joint Venture partners Solitario (50%) and Teck American Incorporated (50%), a wholly owned subsidiary of Teck Resources Limited ("Teck"), recently approved a jointly funded budget for the 2021 work program that consists of surface geochemical sampling, induced polarization (IP) geophysics, and at least 2,000 feet of core drilling to test new exploration concepts and expand resources.

The Lik project hosts a potentially open-pitable Indicated Resource of 17.3 million tonnes grading 12.0% zinc equivalent and an additional 2.9 million tonnes of Inferred Resource grading 12.1% zinc-equivalent. Potentially underground mineable mineralization also occurs on the property. The project is situated approximately 14 miles northwest of Teck's operating Red Dog mine, one of the world's largest, highest grade and lowest cost zinc mines.

Chris Herald, President and CEO, said, "This is clearly an exciting new phase in the advancement of the Lik project, including the first exploration drilling program in ten years. It comes at a time of increased zinc demand and elevated zinc prices. The drilling program is focused on expanding the Lik resource in three different areas of the existing deposit, while the surface work targets potential new mineralization on trend to the northeast of the Lik deposit."