Solitario Resources Corp. · AMEX:XPL
Solitario Resources — Investor Presentation (March 2025)
29 slides from Solitario Resources's investor presentation, March 2025
Slide 1: Focused on High Quality Tier 1 Gold and Zinc Assets
Focused on High Quality Tier 1 Gold and Zinc Assets Solitario Resources Corp. March-2025 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 HIGH-GRADE ZINC ASSETS Value Zn EXCEPTIONAL POTENTIAL FOR MAJOR GOLD DEPOSITS AT GOLDEN CREST Upside Au Strategic Investment NYSE Market: XPL | TSX: SLR | SolitarioResources.com 3
Slide 4: Golden Crest Attracts US$7.75 Million in Successful Financings in a Difficult Market
Golden Crest Attracts US$7.75 Million in Successful Financings in a Difficult Market • increases its ownership in Solitario to 8.7% with US$2.5 million strategic investment at 10% premium to market (August 2, 2023) – no warrants • US$4.75 million private placement with institutional investors at mar
Slide 5: Northern Black Hills, S. Dakota Prolific Gold Endowment
Northern Black Hills, S. Dakota Prolific Gold Endowment Nearly a 90 Million Ounce Gold Endowment NYSE Market: XPL | TSX: SLR | SolitarioResources.com 5
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: Golden Crest Project 33,000 acres 100%-owned
Golden Crest Project 33,000 acres 100%-owned • One of the world’s largest undrilled gold-bearing hydrothermal systems - 80 square kilometers • Multiple high-quality gold targets, original discoveries - never been drilled • Adjacent to an 80-million-ounce gold endowment – supergiant Homestake-Wharf d
Slide 8: High-Grade Gold Across Golden Crest Project
High-Grade Gold Across Golden Crest Project NYSE Market: XPL | TSX: SLR | SolitarioResources.com 8
Slide 9: Exceptional Maiden Drilling Results
Exceptional Maiden Drilling Results • 35,000-acre property – never been drilled prior to Solitario • Four of eight holes intersected significant gold mineralization • Mineralization in three Upper Limestone units: high-grade surrounded by low-grade • Mineralization in Lower Deadwood: high-grade surr
Slide 10: General Observations of Mineralization
General Observations of Mineralization Fractured limestone grades into monomict crackle breccia True paleokarst solution breccia characterized by matrix-supported chert-bearing ferruginous breccia Underlying breccias are cherty and clast-supported and grade downward into crackle breccia and eventual
Slide 11: 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 11
Slide 12: GC-002 GC-003
GC-002 GC-003 NYSE Market: XPL | TSX: SLR | SolitarioResources.com 12
Slide 13: 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 14: The Best Is Yet to Come
The Best Is Yet to Come NYSE Market: XPL | TSX: SLR | SolitarioResources.com 14
Slide 15: Permitting Still at Early Stage for Priority Targets
Permitting Still at Early Stage for Priority Targets NYSE Market: XPL | TSX: SLR | SolitarioResources.com 15
Slide 16: Rock Assay Results
Figure 1: Downpour - Wild Rose Trend 6.93 g/t Figure 2: Initial Wild Rose 34.4 g/t EXPLANATION Fig 2 Inset High-Grade Gold Discovery Au in rock grabs 5.0 – 126 ppm Au 1.0 – 5.0 ppm Au Rock Assay Results 0.2 – 1.0 ppm Au 0.05 – 0.2 ppm Au <0.05 ppm Au 10.25 g/t 20.1 g/t 31.5 g/t 11.35 g/t STRATIGRAPH
Slide 17: NYSE Market: XPL | TSX: SLR | SolitarioResources.com
NYSE Market: XPL | TSX: SLR | SolitarioResources.com 17
Slide 18: Ponderosa Gold Anomaly Now Covers ~15 km2
Ponderosa Gold Anomaly Now Covers ~15 km2 NYSE Market: XPL | TSX: SLR | SolitarioResources.com 18
Slide 19: $.78B Market Cap vs $23B Market Cap
$.78B Market Cap $23B Market Cap NYSE Market: XPL | TSX: SLR | SolitarioResources.com 19
Slide 20: Florida Canyon Zinc Project, Peru
Florida Canyon Zinc Project, Peru Joint ventured with Nexa Resources S.A. - 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 increase a
Slide 21: Florida Canyon PEA Economic Highlights (100% Basis)
Florida Canyon PEA Economic Highlights (100% Basis) (Metal Price Assumptions: Zn=$1.20/lb; Pb=$1.00/lb; Ag=$16.50/oz) NYSE Market: XPL | TSX: SLR | SolitarioResources.com 21
Slide 22: 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 23: Florida Canyon Zn Project
Florida Canyon Zn Project Preliminary Infrastructure Layout Mine Plan – Oblique View NYSE Market: XPL | TSX: SLR | SolitarioResources.com 23
Slide 24: Grade Comparison
Grade Comparison Between Florida Canyon and Nexa’s Current Peruvian Operations 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. Florida Canyon’s resour
Slide 25: 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 Solitario Lik Project Claims Teck Mining Claims jurisdiction Native Corporation Lands • Large tonnage, high-grade, potentially open-pittable resource,
Slide 26: 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 26
Slide 27: Capital Structure
Capital Structure Current Price US$0.76/C$1.03 Cash and ≈$5.8 Mil Securities Shares 81.7 Mil Outstanding Annual G&A US$1.4 Mil Options 5.3 Mil Warrants None Analysts Heiko Ihle, H.C. Wainwright XPL target price US$1.20 Fully Diluted 87.0 Mil Mike Niehuser, Roth Capital XPL target price US$2.00 52-We
Slide 28: 2025 Catalysts
2025 Catalysts • Drilling* four new high-quality drill targets at Ponderosa - Golden Crest • Offset drilling of GC-008 - lower Deadwood mineralization and GC-010; high-grade paleo-placer gold mineralization • Reinterpretation of resource model at Florida Canyon • New target identification at Lik * P
Slide 29: Contact
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 [email protected] [email protected] NYSE Market: XPL |
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