Solitario Announces Anglo Platinum Earns a 15% Interest in Solitario's Pedra Branca Project



    Solitario Receives a $100,000 Payment from Votorantim on Its Bongara
Project in Peru

    DENVER, October 4 /CNW/ - Solitario Resources Corporation (Solitario)
announces that Anglo Platinum Limited (Anglo) has earned-in to a 15% interest
in Pedra Branca Mineracao (PBM), which holds 100% of the Pedra Branca Project
in Brazil. Solitario now owns 85% of PBM. Pursuant to the previously announced
Shareholders Agreement between Anglo, Solitario, PBM and other affiliated
parties, Anglo may earn up to a 65% interest in PBM if Anglo funds certain
levels of exploration and development costs.

    In addition Solitario announces that it has received a $100,000 property
payment from Votorantim Metais (Votorantim) on its 100% owned Bongara Project
in Peru pursuant to the previously announced Framework Agreement between
Solitario, Votorantim, Solitario's wholly-owned subsidiary, Minera Bongara
S.A. (MBSA), and other affiliated parties. MBSA holds 100% of the Bongara
Project. Under the Framework Agreement, Votorantim may earn up to a 70%
interest in MBSA if Votorantim funds certain levels of exploration and
development costs and makes certain other payments.

    The agreements referenced above are attached as exhibits and described
more fully in a Form 8-K as filed with the Securities and Exchange Commission
of even date herewith.

    ABOUT SOLITARIO

    Solitario is a gold, silver, platinum-palladium, and base metal
exploration company actively exploring in Brazil, Mexico, Peru and Bolivia.
Solitario has significant business relationships with Newmont Mining, Anglo
Platinum and Votorantim Metais. Solitario has approximately US$22 million in
cash and marketable securities and no debt. Solitario is traded on the
American Stock Exchange (AMEX:  XPL) and on the Toronto Stock Exchange
(TSX:SLR). Additional information about Solitario is available online at
www.solitarioresources.com

    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
Solitario's properties are 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,
compliance with operating parameters established by such authorities and
political risks such as higher tax and royalty rates, foreign ownership
controls and our ability to finance in countries that may become politically
unstable. 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. This release also contains
information about adjacent properties on which Solitario has no right to
explore or mine. We advise U.S. investors that the SEC's mining guidelines
strictly prohibit information of this type in documents filed with the SEC.
U.S. investors are cautioned that mineral deposits on adjacent properties are
not indicative of mineral deposits on our properties.




For further information:

For further information: Solitario Resources Corporation Director -
Investor Relations Debbie Mino-Austin, 800-229-6827 or President & CEO
Christopher E. Herald, 303-534-1030

Organization Profile

SOLITARIO RESOURCES CORPORATION

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