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Solitario Announces New Board Chairman
July 5, 2006

Denver, Colorado: Solitario Resources Corporation ("TSX: SLR") is pleased to announce Steven A. Webster has been elected as Chairman of the Board following Solitario’s Annual Meeting of Shareholders.

Mr. Webster is Co-Managing Partner and President of Avista Capital Partners, a private equity investment firm he co-founded in 2005 to invest in energy, healthcare and media. From 2000 through mid 2005, Mr. Webster was Chairman of Global åEnergy Partners, an affiliate of CSFB Private Equity. Since 1975, he has been active as a principal, investor, and financial intermediary in energy and other industries.

In 1988, Mr. Webster founded Falcon Drilling Company, an offshore drilling contractor which began trading publicly in 1995. He served as its Chairman and CEO and led its mergers with Reading & Bates Corporation and Cliffs Drilling Company in 1998 to form R&B Falcon Corporation (FLC/NYSE), for which he served as CEO and President through 1999. Mr. Webster was also involved in the founding or reorganization of Carrizo Oil & Gas, Inc. (CRZO/Nasdaq – oil & gas exploration and production), Grey Wolf, Inc. (GW/ASE – land drilling rig contractor), Hercules Offshore, Inc. (HERO/Nasdaq – offshore drilling rig contractor), Crown Resources Corporation (precious metals exploration) and various private companies in the energy and other industries. He was a founding Trust Manager of Camden Property Trust (CPT/NYSE – multi-family housing real estate investment trust).

Mr. Webster holds a B.S. degree from Purdue University and an M.B.A. from Harvard Business School. He also serves on the Dean’s Advisory Board of Purdue’s Krannert School.

Mark E. Jones, III, 66, was appointed Vice-Chairman of Solitario. Mr. Jones previously served as Solitario’s Chairman and has been associated with the company for over 23 years. In addition, Mr. Jones serves as Chairman of Brazauro Resources Corporation (BZO:VN) and as Vice Chairman of Crown Resources Corporation.

Also joining the board is Mr. Brian Labadie, 54, of Vancouver, British Columbia, Mr. Labadie brings over 30 years experience in the mining industry to the Board. He is currently the Executive Vice President and COO of Miramar Mining Corporation. Prior to that, Mr. Labadie spent nine years with Echo Bay Mines, Ltd. as Vice President of Operations with full operations and management responsibility for Echo Bay. He was also was general manager of Echo Bay’s Kettle River Mine in Republic, Washington. Mr. Labadie holds a B.S. in Geological Engineering from the University of Toronto. He also serves as a director of Battle Mountain Gold Exploration Corp. and Crown Resources Corporation.

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

Debbie W. Mino
Director-Investor Relations
(800) 229-6827
Christopher E. Herald
President & CEO
(303) 534-1030

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.

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