Solitario Initiates the Most Aggressive Drilling Campaign in Its History



    Six Projects Totaling 25,000 Meters of Drilling Slated for 2007

    Mexican Exploration Office Established

    DENVER, June 12 /CNW/ - Solitario Resources Corporation
("Solitario")(AMEX:  XPL) (TSX:SLR) announces that drilling has commenced on
three of its exploration properties as part of the most aggressive drilling
campaign in its corporate history. A total of 25,000 meters of drilling is
currently anticipated on six separate projects located in Mexico, Brazil, Peru
and Bolivia. Over 80% of this drilling will be 100% funded by three of
Solitario's joint venture partners. The other 20% will be funded by Solitario
on 100%-owned projects. Drills are currently operating on the Pachuca Real
silver-gold project in Mexico, the Pedra Branca platinum-palladium (PGM)
project in Brazil and the Triunfo poly-metallic project in Bolivia.

    Chris Herald, President and CEO of Solitario, stated, "This is truly an
exciting time for our Company and shareholders with so much activity occurring
simultaneously over a diverse set of projects within a limited time frame.
This is the first modern-day exploration program on the Pachuca Real project,
that we believe has exceptional potential to host high-grade silver-gold
mineralization. At our advanced Pedra Branca platinum-palladium project, our
objective is to discover new deposits on high-quality and previously untested
PGM prospects. We hope to take our high-grade Bongara zinc project in Peru to
the next level of development through Votorantim Metais' comprehensive
drilling program that will begin shortly. Additionally, we continue to add to
our pipeline of new properties, at least three of which we will drill this
year. Finally, we augmented our exploration efforts in Latin America with the
addition to our staff of key experienced technical personnel and the
establishment of a permanent exploration office in Mexico."

    JOINT VENTURE PROJECTS

    Pachuca Real (Silver-Gold, Mexico): Newmont initiated its 3,500 to
4,500-meter drilling program in early May. Five holes have been completed to
date with assays pending. Drilling is expected to continue to the end of
summer. New drilling results should become available by mid-summer. The
46,350-hectare (114,500 acres) Pachuca Real silver-gold project is situated in
and around the prolific Pachuca-Real del Monte historic mining district that
produced 1.4 billion ounces of silver and over 7.0 million ounces of gold.
Solitario's property encompasses about 35 percent of the historic district,
but more importantly, covers over 95% of the potential extensions of the
district to the north and northwest.

    Newmont can earn a 51% interest in the project by spending $12 million on
exploration and development over a 4.5 year period and may earn up to a 65%
interest by completing a positive feasibility study for the project (see
Solitario's press release dated September 25, 2006).

    Bongara (Zinc-Lead, Peru): Votorantim Metais completed a highly
successful 4,350-meter drilling campaign in December 2006 (see Solitario's
press release dated March 27, 2007). Based on these results, as well as 12,000
meters of previous drilling conducted on the Florida Canyon deposit,
Votorantim Metais will initiate a 14,000 meter drilling campaign to better
define strata-bound mineralization to assist in planning surface and
underground access to mineralization. The two-core rig program is expected to
begin in early July and continue through November. New drilling results should
become available by late-summer.

    Solitario's subsidiary Minera Bongara S.A. ("Bongara") holds title to
100% of the project's mineral rights and assets. Votorantim Metais can earn up
to a 70% interest in Bongara by funding $18.0 million in exploration and
development expenditures, making annual cash payments to Solitario beginning
in August 2007 and committing to place the project into production based upon
a feasibility study. Once Votorantim has fully funded its $18.0 million work
commitment, it has further agreed to finance Solitario's 30% participating
interest for construction.

    Pedra Branca (Platinum-Palladium, Brazil): Solitario initiated a 3,500
meter drilling program (100% funded by Anglo Platinum Ltd.) in late-May 2007.
Drilling results from this program should become available by mid-summer. The
objective of this program is to identify new PGM deposits to add to the
mineralization thus far delineated in four separate near-surface deposits. Six
high-quality new targets will be drill tested. Target selection for this round
of drilling was augmented by a recently completed ground IP geophysical survey
and detailed reprocessing of previously gathered magnetic geophysical data.

    Solitario's subsidiary Pedra Branca Mineracao S.A. ("PBM") holds title to
100% of the project's mineral rights and assets. Anglo Platinum may earn a 51%
interest in PBM by spending a total of $7 million on exploration at Pedra
Branca by February 28, 2010. Anglo Platinum can earn an additional 9% interest
in PBM (for a total of 60%) by either (i) completing a bankable feasibility
study or (ii) spending an additional $10.0 million on exploration or
development. Anglo Platinum can also earn an additional 5% interest in PBM
(for a total of 65%) by arranging for 100% project financing to put the
project into commercial production.

    100%-OWNED DRILLING PROJECTS

    Mercurio (Gold, Brazil): A 2,000 meter third round of drilling is planned
on the Mercurio project in the Tapajos gold region of Brazil beginning in
mid-2007. In 2005 and 2006, 18 of 23 drill holes intersected significant gold
values (see Solitario's press release dated February 12, 2007). This year's
drilling will focus on offsetting strongly mineralized drill holes and a
completely new area of potentially significant mineralization that was
recently identified.

    Titicayo (Silver, Bolivia): A four-hole core drilling program was
recently completed on the Titicayo silver project in Bolivia. Drilling results
are pending. The drill target at Titicayo consists of a mineralized structural
zone that has been traced on surface for nearly one-kilometer in length and 10
to 20 meters in width. The zone is covered by younger volcanics on each end
and is consequently open to expansion. No previous drilling had ever been
conducted on the property.

    Triunfo (Gold-Silver-Zinc-Lead, Bolivia): A three-hole core drilling
program is underway on our Triunfo polymetallic (gold-silver-lead-zinc)
project, which is located about 35 kilometers east of the capital city of La
Paz in Bolivia. Exposed stockwork mineralization occurs as a structurally
controlled zone up to 80 meters wide and at least 400 meters long. Good
potential for size expansion exists along strike where the zone is covered by
shallow talus and along its southern limit of width where it is covered by
alluvium. No drilling has ever been conducted on the property.

    MEXICAN EXPLORATION OFFICE ESTABLISHED

    In May, Solitario established a permanent exploration office for its
Mexican exploration operations in Hermosillo. Mr. Luis A. Martinez was hired
as Country Manager to accelerate the Company's exploration efforts in Mexico.
Mr. Martinez has been in the mineral exploration industry for the past 30
years managing numerous exploration projects for major mining company
exploration groups. He has been involved in five base and precious metal
discoveries during his career. For the past 15 years, he held various
management positions within the former Noranda-Falconbridge group of companies
(now Xstrata). Two additional senior geologists from the Noranda-Falconbridge
group have also joined Solitario's exploration team along with Mr. Martinez in
Mexico.

    ABOUT SOLITARIO

    Solitario is a gold, silver, platinum-palladium, and base metal
exploration company actively exploring in Brazil, Mexico, Peru and Bolivia.
Besides Votorantim, Solitario has significant business relationships with
Newmont Mining and Anglo Platinum. Solitario has approximately US$24 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.

    FOR MORE INFORMATION, CONTACT:

    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

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SOLITARIO RESOURCES CORPORATION

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