Solitario Resources Corp. · AMEX:XPL
Solitario Resources — Investor Presentation (March 2026)
33 slides from Solitario Resources's investor presentation, March 2026
Slide 1: Focused on High Quality Tier 1 Gold, Zinc and Critical Metals Assets
Focused on High Quality Tier 1 Gold, Zinc and Critical Metals Assets Solitario Resources Corp. March 2026 Corporate Presentation
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, stat
Slide 3: Value and Upside: Three Tier One Assets
Value and Upside Three Tier One Assets SIGNIFICANTLY UNDERVALUED TWO CRITICAL METALS PROJECTS HIGH-GRADE ZINC ASSETS ADDED TO PORTFOLIO (100% OWNED) Value Cat Creek Molybdenum-Rhenium Zn Porphyry Project • Drill-ready and permitted • Drilling scheduled for 2026 EXCEPTIONAL POTENTIAL FOR MAJOR Bright
Slide 4: Northern Black Hills, S. Dakota Prolific Gold Endowment
Northern Black Hills, S. Dakota Prolific Gold Endowment NYSE Market: XPL | TSX: SLR | SolitarioResources.com 4
Slide 5: Golden Crest: Attracting Financing from Newmont & Institutions
Golden Crest: High-Profile Domestic Gold Project Attracting Financing from Newmont & Institutions • 8.5 million shares – 9.3% • Edgepoint: 7.3 million shares – 8.0% • Wexford Capital: 5.6 million shares – 6.1% • Konwave AG/Gam: 2.9 million shares – 3.2% • Other Institutions: 1.2 million shares – 1.3
Slide 6: Northern Black Hills: A Super Giant Gold Province
Northern Black Hills: A Super Giant Gold Province NYSE Market: XPL | TSX: SLR | SolitarioResources.com 6
Slide 7: High-Grade Gold Across Golden Crest Project
High-Grade Gold Across Golden Crest Project Surface Rock Samples Trenches Downpour: T-1: 36 meters @ 17.6 gpt gold T-2: 60 meters @ 8.5 gpt gold Geyser: T-1: 234 meters @ 0.82 gpt gold T-3: 27 meters @ 3.22 gpt gold NYSE Market: XPL | TSX: SLR | SolitarioResources.com 7
Slide 8: Drilling Permit Approved March 2026 Strong 2024/2025 Drilling Results
Drilling Permit Approved March 2026 • Allows Solitario to drill up to 196 holes from 49 platform areas, mainly in the Ponderosa area • Two core rigs scheduled to begin drilling in mid-May Strong 2024/2025 Drilling Results • 31,500-acre property – never been drilled prior to Solitario • Seven of 15 h
Slide 9: Mirror Image of the Homestake-Wharf System
Mirror Image of the Homestake-Wharf System Target Type Homestake-Wharf Deposit Types Size of Gold Intersected In Drill Hole Intercept (meters) Gold Grade (g/t) Endowment*1 2024/2025 Hole Number 1 Carbonate Replacement in 500,000 ✓ GC-001 32.0 m @ 1.68 g/t Paleozoic Rocks GC-002 25.9 m @ 1.12 g/t*2 G
Slide 10: Three Drill Holes Completed to Date at Downpour
Three Drill Holes Completed to Date at Downpour GC-001 NYSE Market: XPL | TSX: SLR | SolitarioResources.com 10
Slide 11: GC-002 GC-003
GC-002 GC-003 NYSE Market: XPL | TSX: SLR | SolitarioResources.com 11
Slide 12: GC-008 – New Wharf-Style Gold Discovery
GC-008 – New Wharf-Style Gold Discovery • Wharf mining complex produced over three million ounces of 15-50 gpt high-grade gold • Last Two Meters of Drill Hole GC-008 intersected 3.4 gpt gold in Lower Deadwood Formation • First ever gold discovered in Lower Deadwood outside of the historic district *
Slide 13: Strategic Investments and Technical Cooperation
Strategic Investments and Technical Cooperation Strategic Investments • US$3.5 million in equity investments dedicated to Golden Crest Project • Newmont equity position in Solitario stands at 9.3% Technical Cooperation – Focused on enhanced target definition • Geologic mapping – Newmont-Solitario ge
Slide 14: Basement Gravity Suggests District Controls
Basement Gravity Suggests District Controls Richmond Hill 9.9 Moz footprint Homestake +68.0 Moz Wharf Complex 9.3 Moz footprint Gilt Edge +4.0 Moz Golden Crest Anomaly - +40 km2 Gold & pathfinder elements in soils Ponderosa Anomaly - +40 km2 Gold & pathfinder elements in soils NYSE Market: XPL | TSX
Slide 15: NYSE Market: XPL | TSX: SLR | SolitarioResources.com
NYSE Market: XPL | TSX: SLR | SolitarioResources.com 15
Slide 16: 2026 Drilling to Test Strongest Gold Anomalies
2026 Drilling to Test Strongest Gold Anomalies- 45 Platforms NYSE Market: XPL | TSX: SLR | SolitarioResources.com 16
Slide 17: Cat Creek Critical Minerals Project – Molybdenum / Rhenium
Cat Creek Critical Minerals Project – Molybdenum / Rhenium (100%-owned) • Permitted; drilling scheduled for July 2026 • Huge data base generated by Anaconda Copper in early 1980’s, but never drilled as Anaconda suspended all exploration in 1983 and the company was sold by ARCO • Altered rhyolitic po
Slide 18: Cat Creek Compares Favorably with the Largest Porphyry Mo Systems Known
Cat Creek Compares Favorably with the Largest Porphyry Mo Systems Known IP-Geophysics Suggests Large-Scale Size Comparison of Major Mo Deposits Classic Mineralization Porphyry Signature NYSE Market: XPL | TSX: SLR | SolitarioResources.com 18
Slide 19: Bright Angel Critical Minerals Project-Gold/Copper
Bright Angel Critical Minerals Project-Gold/Copper (100% Owned with Option to Buyout) • Plan of Operations submitted to the U.S. Forest Service in March 2026 for up to 30 drill holes • Original Bright Angel owner drilled 186 shallow drill holes in 1969 (most less than 20 meters) targeting gold and c
Slide 20: Bright Angel Alkalic Porphyry Target
Bright Angel Alkalic Porphyry Target Alkalic pipe-like gold-copper porphyries are known for • High-grades of gold and copper and commonly occuring in clusters • Many alkalic deposits exceed 10 million ounces of gold and 10 billion pounds of copper • Usually have limited lateral extent measured in 10
Slide 21: Bright Angel Surface Sample Assay Map (Grab)
Bright Angel Surface Sample Assay Map (Grab) NYSE Market: XPL | TSX: SLR | SolitarioResources.com 21
Slide 22: Surface Expression of Mineralization is Outstanding
Surface Expression of Mineralization is Outstanding Large mineralized alteration zone 280m x 50m with visible copper Stockwork quartz porphyry Stockwork quartz porphyry Skarn Oxide Cu on Surface (potassically altered) (potassically altered) NYSE Market: XPL | TSX: SLR | SolitarioResources.com 22
Slide 23: $1.0B Market Cap $28B Market Cap
$1.0B Market Cap $28B Market Cap NYSE Market: XPL | TSX: SLR | SolitarioResources.com 23
Slide 24: Florida Canyon Zinc Project, Peru
Florida Canyon Zinc Project, Peru • Joint ventured with Nexa Resources - Funded to production • Advanced exploration project with nearly $90 million in partner investments (526 drill holes; 134,416 meters) • Preliminary Economic Assessment demonstrates robust economics • Significant resource increas
Slide 25: Florida Canyon High-Grade Zinc Resource with Significant Byproduct Silver
Florida Canyon High-Grade Zinc Resource with Significant Byproduct Silver 2024/2025 Nexa completed an exhaustive top-to-bottom resource review supporting significant new resource potential NYSE Market: XPL | TSX: SLR | SolitarioResources.com 25
Slide 26: Funded to Production
Funded to Production All future costs - drilling, PEA updates, pre-feasibility costs, community relations, environmental expenses, metallurgical studies, engineering & feasibility - will be funded by Nexa to earn its 70%-interest in the project. ✓ Solitario will not pay back any of these costs. Afte
Slide 27: Florida Canyon Zinc Project
Florida Canyon Zinc Project Preliminary Infrastructure Layout Mine Plan – Oblique View NYSE Market: XPL | TSX: SLR | SolitarioResources.com 27
Slide 28: Florida Canyon's Resource Grade Significantly Higher than Nexa's Operating Zinc Mines
Florida Canyon’s Resource Grade is Significantly Higher than Nexa’s Operating Zinc Mines in Peru Florida Canyon’s Mineable PEA Resource Grade: ~ 10% Zn Eq Nexa’s Peruvian Operations Grade(1): ~ 5.0% Zn Eq (1) Average blended reserve/resource grade for Milpo’s three underground Peruvian zinc mines. N
Slide 29: Lik Zinc Project, Alaska
Lik Zinc Project, Alaska • 50/50 Joint venture with • Mining claims covering 6,075 acres located 11 miles from Teck’s Red Dog Mine, in mining friendly jurisdiction Solitario Lik Project Claims Teck Mining Claims • Large tonnage, high-grade, potentially Native Corporation Lands open-pittable resource
Slide 30: Lik Zinc Project, Alaska
Lik Zinc Project, Alaska Proximity to Red Dog Mine Resources Red Dog Mine Lik Project NYSE Market: XPL | TSX: SLR | SolitarioResources.com 30
Slide 31: Capital Structure
Capital Structure Current Price US$0.88/C$1.20 Cash ≈$8.3 Mil Shares Outstanding 91.3 Mil Debt None Annual G&A US$1.4 Mil Options 3.6 Mil Analysts Heiko Ihle, H.C. Wainwright Warrants None XPL target price US$1.20 Fully Diluted 94.9 Mil Mike Niehuser, Roth Capital XPL target price US$1.80 52-Week Hi
Slide 32: 2026 Catalysts
2026 Catalysts • First ever drilling on large, high grade, Ponderosa area at Golden Crest • Two rigs begin drilling in mid-May 2026 • Drilling at Cat Creek Mo-Re critical metals project in mid-July • Advance/Complete drill permitting at Bright Angel Gold-Copper Project • Additional geophysics at Bri
Slide 33: Christopher Herald, President and CEO
Lik Zinc Project, Alaska Florida Canyon Zinc Project, Peru Christopher Herald, Transfer Agent President and CEO Computershare Investor Services 4251 Kipling St., Suite 390 800-564-6253 Wheat Ridge, Colorado 80033 Investor Relations 303-534-1030 info@solitarioxr.com cherald@aol.com NYSE Market: XPL |
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