Solitario signs Yanacocha agreement with Barrick Gold.

DENVER--(BUSINESS WIRE)--May 30, 1995--Solitario Resources Corp. today announced that it has signed a US$7.25 million option agreement with Barrick Gold Corp. on Solitario's 155,000-acre Yanacocha gold property in northern Peru.

The Yanacocha property is strategically situated between Newmont Mining's producing Yanacocha gold mine and Barrick Gold's feasibility-stage Corona gold-copper deposit.

The agreement calls for Barrick to spend $6.25 million in staged exploration and make cash payments to Solitario of $1 million over a four-year period to earn a 60% interest in the property. The first year's work commitment is $1 million, subject to a 30-day due diligence period. Upon completion of the due diligence period, Barrick will pay Solitario $100,000.

Solitario acquired the mineral rights to its Yanacocha property in August and September of 1993. Since acquiring the property, Solitario has spent approximately $1.5 million exploring the surface geology through geochemical, geophysical and geologic methods. To date, 18 areas have been identified as having potential to host gold and gold-copper mineralization. Only one of these areas, Los Negritos, has been drill tested with eight shallow core holes that intersected anomalous gold.

The Yanacocha area has been one of the most active areas for gold exploration in South America. Newmont Mining recently completed an expansion of their Yanacocha Mine operations that is expected to result in 1995 gold production of approximately 450,000 ounces. A significant portion of Newmont's announced 8 million ounces of gold deposits lie within several kilometers of Solitario's southeastern property boundary. Several kilometers northwest of Solitario controlled property, Barrick's Corona deposit (3 million ounces gold and 1 billion pounds copper) is undergoing a detailed feasibility study which is expected to be completed by the end of 1995. Solitario's 100%-owned property block is the largest single owner property position in the Yanacocha-Corona mining district.

Christopher E. Herald, president of Solitario, said: "This agreement represents a significant milestone for Solitario in its efforts to advance its exploration projects in South America and is a solid endorsement of the property's potential by North America's largest gold producer, Barrick Gold. We are particularly pleased to have a partner that already has shown a strong commitment to developing the mineral potential of this very exciting area."

Solitario is a gold and base metal exploration company actively exploring in Peru and Argentina. Solitario is a 67%-owned subsidiary of Crown Resources Corp. and is traded on the Toronto Stock Exchange under the symbol SLR.

CONTACT: Solitario Resources Corp.

Debbie W. Mino, 713/682-4070 or 800/229-6827 (Houston)

Mark E. Jones III, 303/295-2171