Solitario Expands High-Grade Mineralization on Its Pedra Branca PGM-Project, Brazil; Newmont to Initiate Drilling on the La Tola Gold Project, Peru.

DENVER -- Solitario Resources Corporation today announced that recent drilling on its Pedra Branca platinum-palladium ("PGM") project in northeastern Brazil has expanded high-grade mineralization on its Esbarro and Curiu prospects. All five core holes on the Esbarro prospect and six holes from the Curiu prospect intersected mineralization with significant intercepts in seven of these holes.

Highlighting these results are Esbarro drill holes ES-35 and ES-36 that intersected 3.3 meters of 11.87 grams of PGM+gold and 3.0 meters of 6.81 grams of PGM+gold, respectively; and, Curiu drill holes CU-15 and CU-18 that intersected 26.9 meters of 3.17 grams of PGM+gold and 30.0 meters of 2.45 grams of PGM+gold, respectively. This latest round of reported drilling was designed to expand mineralization along the margins of both the Esbarro and Curiu deposits which are situated about three-kilometers apart. Reported mineralized intervals in the table below are all thought to be within 90% of true width. Assay results for an additional 19 holes in 10 other prospect areas are pending. The table below provides a complete listing of assay results for the eleven holes for which assays have been received. Drill hole location maps for the Esbarro and Curiu prospect areas may be viewed on the company's web site (http://www.solitarioresources.com).

Phase II Pedra Branca Drill Hole Assay Result

Hole Number   From      To         Interval        Pt     Pd     PGM
             meters   Meters    Meters     feet    g/t    g/t  (+gold)
-----------  ------   ------    ------     ----   -----  ----- -------
   ES-34      16.7     21.5      4.8       15.7    0.28   0.54   0.82
   ES-35       4.8      8.1      3.3       10.8    4.72   7.11  11.87
              20.0     26.6      6.6       21.6    0.65   1.46   2.11
              32.0     36.0      4.0       13.1    0.33   0.56   1.01
   ES-36       3.1      6.1      3.0        9.8    2.33   4.47   6.81
   ES-37      58.0     60.0      2.0        6.6    0.34   0.64   1.05
   ES-38       1.6     23.0     21.4       70.2    0.68   0.66   1.36

   CU-14      28.5     54.6     26.1       85.6    0.53   1.18   1.79
              58.0     60.0      2.0        6.6    0.14   1.02   1.28
   CU-15       1.1     28.0     26.9       88.2    1.13   1.92   3.17
   Incl.       1.1       12     10.9       35.8    2.21   3.45   5.85
   CU-16       1.2     12.0     10.8       35.4    1.57   2.05   3.91
   CU-17       5.0      7.5      2.5        8.2    1.23   0.36   1.59
   CU-18       0.5     30.5     30.0       98.4    0.96   1.43   2.45
   Incl.       0.5      8.0      7.5       24.6    2.60   3.65   6.45
              36.0     38.0      2.0        6.6    0.16   0.67   0.97
              45.0     46.7      1.7        5.6    0.72   1.52   2.27
   CU-19       0.8      1.8      1.0        3.3    0.66   0.84   1.52

 Drill intervals were calculated utilizing a 0.7 g/t PGM+gold cutoff.

This latest round of drilling is being funded by Solitario's exploration partner, Anglo American Platinum Corporation Limited ("Anglo Platinum"), as part of Anglo Platinum's Phase II US$500,000 work commitment. Anglo Platinum had previously funded a Phase I US$500,000 exploration program. Anglo Platinum can earn a 51% interest in Pedra Branca by spending a total of US$7.0 million exploration and development over a four-year period. Anglo Platinum can earn a further 14% interest (to a total 65% interest) by completing a bankable feasibility study and arranging 100% project financing.

Chris Herald, President and CEO of Solitario, stated, "This step-out drilling program exceeded our expectations in adding new high-grade mineralization along the margins of both the Curiu and Esbarro deposits. We look forward to reporting additional results from other earlier stage prospect areas as assay results are received."

The drill hole information contained within this release is reported under a quality control program supervised by Mr. Walt Hunt, Vice President of Operations for Solitario Resources Corporation, who is a qualified person as defined by National Instrument 43-101. Samples are derived from 50% splits of HQ and NQ (2.5 and 1.9 inch) diameter core. Samples are then shipped via secured third-party land and air transportation companies and analyzed by ALS Chemex Inc., North Vancouver, Canada, an ISO9002 registered company. In addition to the laboratory's quality control program, a check assay program is ongoing.

La Tola Drilling to Commence

In other news, Newmont Peru Limited ("Newmont"), a subsidiary of Newmont Mining Corporation, is expected to begin drilling Solitario's La Tola gold project in southern Peru during the first week of December. Thirteen reverse circulation drill holes testing six target areas are initially planned. The 11,030-hectare (27,240-acre) La Tola property is an early-stage gold exploration project situated in the rapidly emerging southern Peru gold belt. Solitario identified and acquired the property in late-2003 through its successful grassroots exploration program.

Newmont's exploration program has focused on an eight-kilometer long corridor of altered Tertiary volcanic rocks with disseminated and stockwork gold mineralization within a large low-sulfidation gold system. Newmont has collected approximately 4,000 surface samples, including 3,820 meters of trench and channel samples, and conducted 850 line-kilometers of magnetic geophysical surveys and 102 line-kilometers of IP-geophysical surveys to define drill targets.

Newmont can earn a 51% interest in Solitario's 100%-owned La Tola gold property in southern Peru by spending US$7.0 million on exploration and development work over a four-year period. Newmont can earn an additional 14% interest (to a total interest of 65%) by completing a positive feasibility study and arranging 100% of project financing. In addition to its retained participating interest in the project, Solitario retains a sliding scale net smelter return royalty interest on gold and silver production (0 to 2.25% subject to gold price and other conditions).

Solitario is a gold, platinum-palladium, and base metal exploration company actively exploring in Peru and Brazil. Solitario is traded on the Toronto Stock Exchange (TSX: SLR).

This press release 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, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Solitario, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Development of the Solitario's Royalty Property is subject to the success of exploration, completion and implementation of an economically viable mining plan, obtaining the necessary permits and approvals from various regulatory authorities, and compliance with operating parameters established by such authorities. Important factors that could cause actual results to differ materially from Solitario's expectations are disclosed under the heading "Risk Factors" and elsewhere in Solitario's documents filed from time to time with Canadian Securities Commissions, the United States Securities and Exchange Commission and other regulatory authorities.