Solitario Files Drilling Plan of Operations for Its Bright Angel Gold - Copper Project

• 2026-03-10: Solitario Files Drilling Plan of Operations for Its Bright Angel Gold - Copper Project
• Filing a Plan of Operations with the USFS to drill Bright Angel in Colorado.
• First drilling on the property since 1970; surface gold and copper values observed; 750 m by up to 600 m oxide-silver/gold-bearing footprint noted; drone magnetic survey and possible IP survey planned; qualified person Walter Hunt approved NI 43-101 disclosure.
• CEO Chris Herald emphasized high gold/copper potential with current metal price context.
• 2026-02-26: Solitario Receives Positive USFS Decision Memo Approving its Ponderosa Drilling Plan of Operations
• USFS memo allows 5,000 m of Phase-One drilling at Ponderosa (Golden Crest property, SD) with start anticipated mid-May.
• 49 drill platforms approved; environment protection measures highlighted; company cash balance around US$8.3 million.
• Ponderosa hosts large high-grade gold surface anomalism; plan includes modifications before proceeding; CEO optimistic about targets and ESG focus.
• 2026-02-26: Solitario Attending PDAC 2026 at Booth 2422A and Participating in One-on-One Meetings
• Company presence at PDAC to showcase portfolio: Golden Crest (South Dakota), Cat Creek (Colorado molybdenum-rhenium), Bright Angel (Colorado), Florida Canyon (Peru zinc), Lik (Alaska zinc).
• Management availability for investor discussions, signaling ongoing financing and partnership opportunities.
• 2026-01-22: Solitario Adds Bright Angel Gold - Copper Project, Further Diversifying Its Property Portfolio
• Acquisition of Bright Angel in Colorado; surface sampling encouraging; exploration plans include drone magnetics and potential IP survey; late-2026 drilling targeted.
• Quotes from Chris Herald suggest Bright Angel is an alkalic pipe-like porphyry with high-grade potential at depth; cautiously notes that NI 43-101 QA/QC limitations apply to historic data.
• 2025-12-08: Solitario CEO to Present at John Tumajos Very Independent Research Conference
• Virtual conference presence; portfolio overview including Golden Crest, Florida Canyon, Lik, Cat Creek, Bright Angel.
• 2025-10-21: Solitario Adds Critical Metals Project to Its Property Portfolio; 2026 Drilling Planned at Cat Creek Project
• Cat Creek permits secured for mid-2026 drilling; Cat Creek viewed as a large-scale Mo-Re porphyry target; CEO Herald comments on strategic importance amid domestic Critical Metals focus.
• 2025-09-15: Solitario drills 1.2 m of 1,445 g/t Ag at Golden Crest
• Phase 1 drilling at Golden Crest; noteworthy silver intercepts (GC-012); ongoing assay work and further drilling planned.
• 2025-06-20: Solitario completes $4.5-million (U.S.) placement
• Private placement to Newmont Overseas Exploration Ltd. (1.59M shares; ~9.4% post) and Wexford Capital (5.56M shares; ~6.2% post); gross proceeds US$4.5m; cash position cited as >US$9m by CEO; funds earmarked for Golden Crest and Ponderosa follow-up drilling.
• 2025-06-19: Solitario begins drilling at Golden Crest
• Initiation of Golden Crest drilling; plan to test surface gold anomalies and follow-up on prior mineralization; annual meeting results discussed.
• 2025-05-19: Solitario Resources Announces Favorable Golden Crest Metallurgical Results
• Bottle-roll metallurgical tests on 2024 Golden Crest intervals show recoveries in the 60–84% range for various holes; oxidation extends to depth in some intervals; signals potential for heap/leach or other processing routes; data supports continued drilling and metallurgical work.
• 2025-05-14 & 2025-03-31: SEDAR Interim Financial Statements; Solitario CEO to Present at European Mining Forum
• Ongoing financial reporting; management communications surrounding Golden Crest program and 2025 drilling plans.
• 2025-03-31: Solitario CEO to Present at Mining Forum Europe
• Webcast presentation outlining 2024 maiden Golden Crest program and 2025 drilling plans; update on Florida Canyon and Lik zinc projects.

Material impact assessment - The most recent news (2026-03-10) is a natural follow-on to prior activity (Bright Angel acquisition Jan 2026; PoO planning and Ponderosa updates in Feb 2026). The filing of a drilling Plan of Operations for Bright Angel represents a material, but expected, step in turning exploration targets into in-field drilling. It confirms the company is advancing multiple projects concurrently and aligns with the company’s strategy of building a diversified exploration portfolio with high-grade prospects. - The February 26, 2026 Ponderosa decision memo is arguably more material in immediate financial terms, as it unlocks a defined drilling program (5,000 m Phase-One) with a clear start window (mid-May) and a quantified environmental safety framework. This directly funds near-term exploration progress and could add meaningful value if results are positive. - The broader context of financing activity (June 2025 private placement with Newmont and Wexford; shareholding by Newmont ~9.4%) indicates strong strategic support and a capital base capable of sustaining multiple drilling campaigns, reducing near-term dilution pressure. The cash position around US$8–9 million supports near-term activity, though continued financing will be needed if aggressive drill programs are pursued. - The news flow across 2025–2026 shows a consistent, positive trajectory: acquisition of Bright Angel; multiple drill campaigns at Golden Crest; permitting success at Cat Creek; and active investor engagement (PDAC, investor forums). No debt is reported; the company remains equity-financed with a diversified shareholder base including strategic investors. - Overall rating: Material implication is Routine - Positive. The latest news advances exploration progress and aligns with an ongoing multi-project program funded by strategic equity and a robust cash position, but does not introduce a game-changing discovery or an immediate production decision. The sum of recent updates reinforces a constructive near- to mid-term outlook, contingent on drill results.

What to watch next (immediate, 3-6 Months) - Immediate (weeks to months): - Bright Angel PoO approval status and any permitting milestones or community/ESA-related conditions; timing of actual drill mobilization on Bright Angel. - Ponderosa drilling program start (mid-May target) and initial drill results (Phase-One 5,000 m) to assess early target success and any need for program adjustments. - Any updates from PDAC/Investor communications on project economics or strategic partnerships. - 3–6 months: - Assay results from Ponderosa Phase-One and any early Bright Angel drill results; interpretation of porphyry-style target and grade distribution. - Metallurgical studies for Golden Crest and Bright Angel (recovery rates, processing routes) to refine economic potential. - Additional permits or plan updates (Ponderosa Phase-2, potential new targets, and gravity surveys for Golden Crest/Ponderosa) and any updates on Cat Creek drill program. - Visibility on cash runway and any follow-on financing discussions, given the continued need for exploration capital; monitoring for potential new strategic investments beyond Newmont/Wexford. - Look for in future news: - Drill results with specific intercepts and grades; potential upgrade of resources or discovery of higher-grade zones. - Updates on Bright Angel permitting, drill mobilization, and field season milestones (drill plans, site access, ESG/permitting commitments). - Strategic investor activity, potential non-equity collaborations, and any M&A or royalty/asset-acquisition developments.

Conclusion on Materiality - Materiality assessment: Routine - Positive. The March 10, 2026 news is a routine but positive development that aligns with previous exploration and permitting progress. It confirms active drilling planning on Bright Angel, a project added in early 2026, while the February 26, 2026 Ponderosa memo provides a near-term, tangible drilling program. Collectively, the updates support a constructive near-term exploration narrative and leverage the company’s strengthened capital base and strategic investor base. No red flags are evident in the latest release; the main risk remains the usual exploration risk and eventual results from the planned drilling campaigns.

Technical Analysis and Price Support Resistance Breakout levels - Price data: Price data not provided. Technical analysis cannot be performed due to missing time-series price data. - If price data becomes available, the approach would be: - Define current trend using recent closes and 50/200-day moving averages. - Identify support levels where price previously consolidated (e.g., around prior swing lows or post-raising cash levels) and resistance levels (recent highs, exit points from prior drill campaigns). - Upside breakout level to buy: a sustained close above the nearest major resistance with volume on improving fundamentals (e.g., strong drill intercepts or metallurgical results). - Downside support level to buy: a robust support near a recent multi-month low with positive fundamental catalysts (e.g., permit approvals, initial drill results). - In light of the news, material catalysts would be the results from Ponderosa Phase-One and Bright Angel drilling, which could drive a re-rating if results are favorable and the stock breaks key resistance with volume.

Company overview and flagship project - Company overview: Solitario Resources Corp. is a diversified precious metals and base metals explorer with a portfolio spanning Golden Crest (South Dakota), Ponderosa (Golden Crest area), Cat Creek (Colorado), Bright Angel (Colorado), Lik (Alaska), and Florida Canyon (Peru). The company maintains a strategy of building a portfolio of high-potential exploration assets including zinc, molybdenum, rhenium, and precious metals, with an emphasis on high-grade targets and district-scale opportunities. - Flagship project: Golden Crest gold project in South Dakota has been the focal point of multiple drill campaigns since 2024, including a 2025 season that yielded high-grade silver intercepts in early phases, and metallurgical work showing potential processing routes. The project status remains exploration with ongoing Phases of drilling and expanding targets (Ponderosa area in Golden Crest). Bright Angel, added in 2026, is positioned as a second tier flagship due to its potential alkalic porphyry style and the new drill plans.

Capital structure including financings and levels - Outstanding shares and capitalization: - Issued shares near the mid-80s to 90 million range (historical reports show around 81.6 million in Dec 2024; later reports indicate higher levels after private placements and new share issues). The June 2025 placement adds significant new equity holders (Newmont Overseas Exploration Ltd. ~9.4% post-issuance; Wexford Capital ~6.2%; Edgepoint and others noted in 2025 filings). - Major shareholders (as of mid-2025 onward) include Newmont (≈9.4%), Wexford Capital (≈6.2%), Zebra Trust (Lundin Family) (~4.2%), Edgepoint (~8% listed in some disclosures), and other institutions and insiders. - Financings and levels: - 2025-06-20: $4.5 million private placement; Newmont contributed about 1.59 million shares with ~9.4% ownership post-issuance; Wexford contributed about 5.56 million shares (~6.2%). - CFO statements and annual updates show cash position around US$8–9 million as of mid-2025 through 2026, with ongoing use of funds for Golden Crest and Ponderosa exploration. - Warrant/option structure: - 2025-12-08 and 2025-06-20 disclosures show multiple option tranches (e.g., around 2.1–2.4 million options per tranche) with exercise prices ranging roughly from US$0.20 to US$0.85 and long-dated expiries. Warrant data appears to be minimal or not outstanding per several filings.

Strategic investors - Major strategic investors and their investment details: - Newmont Overseas Exploration Ltd. (subsidiary of Newmont Corp.): Purchased ~1.587 million shares at US$0.63 per share in mid-2025; post-transaction ownership around 9.4%. - Wexford Capital Partners: Purchased ~5.6 million shares; post-transaction ownership ~6.2%. - Edgepoint and Zebra Trust (Lundin Family) and other institutions are also listed as significant holders in various disclosures; collectively these investors provide strategic capital and long-duration involvement. - Management alignment: The presence of a major strategic investor (Newmont) and a well-funded secondary investor base (Wexford, Edgepoint, Zebra) supports Solitario’s exploration plans and potentially improves access to future capital markets.

Debt risk and capital needs - Debt: None reported; Solitario is financed through equity; no long-term debt obligations. - Capital needs: Given ongoing drilling programs (Golden Crest, Ponderosa) and Bright Angel drilling planning, additional capital will be required to sustain multi-project exploration. The 2025 private placement and robust cash position mitigate near-term liquidity risk, but further financings could be required if drill programs expand or encounter delays or disappointing results.

Key and hidden risks - Exploration risk: No guarantee drill results will meet expectations; metallurgical recoveries and process routes vary by target; historical data at Bright Angel has QA/QC caveats per NI 43-101 disclosures. - Permitting risk: Bright Angel PoO and Ponderosa permit approvals are critical; changes in forest service or environmental conditions could affect drill timing or scope. - Market risk: Commodity price volatility for gold, copper, zinc, molybdenum, and rhenium could impact project economics and the willingness of investors to fund expansion. - Data quality risk: Some historical data are from historic sources (e.g., Anaconda data) and require verification; metallurgical test results and drill intercepts require confirmation via ongoing assays. - Dilution risk: Ongoing equity financings, including future private placements or equity offerings to fund exploration, could dilute existing holders.

Final summary and takeaways - The latest news flow indicates continued progress in Solitario’s multi-project exploration strategy, with Bright Angel planning and Ponderosa permitting as near-term catalysts. The company’s capital structure remains supportive due to strategic investors (notably Newmont) and a measurable cash position, though ongoing exploration will require additional capital. - The stock reacts to operational milestones rather than single drill intercepts; key value drivers will be drill results (Bright Angel and Ponderosa), updated metallurgical data, and the progression of Cat Creek and Lik zinc assets. - In the near term (3–6 months), expect updates on drill results at Ponderosa, potential Bright Angel drill mobilization, more detailed assay results, and further commentary on the economics and potential of its zinc projects.

Appendix and Sources - Solitario Resources Corp. – March 10, 2026: Solitario Files Drilling Plan of Operations for Its Bright Angel Gold - Copper Project. News release excerpts. - Solitario Resources Corp. – February 26, 2026: Positive USFS Decision Memo Approving Ponderosa Drilling Plan of Operations. News release excerpts. - Solitario Resources Corp. – February 27, 2026: PDAC 2026 attendance. News release excerpts. - Solitario Resources Corp. – January 22, 2026: Adds Bright Angel Gold - Copper Project. News release excerpts. - Solitario Resources Corp. – June 20, 2025: $4.5 million placement; Newmont/Wexford. News release excerpts. - Solitario Resources Corp. – June 19, 2025: Starts drilling at Golden Crest. News release excerpts. - Solitario Resources Corp. – May 19, 2025: Favorable Golden Crest metallurgical results. News release excerpts. - Solitario Resources Corp. – Oct 21, 2025; Sep 15, 2025: Cat Creek and Golden Crest updates. - Solitario Resources Corp. – 2025-09 to 2025-12: SEDAR interim and annual financial statements detailing mineral properties, cash positions, and private placements. - Solitario Resources Corp. – Investor Presentation (Sept 2025): Corporate presentation with details on Golden Crest, Florida Canyon, Lik, and Bright Angel; major shareholders; capital structure; management background. - Transcripts/CEO presentations and conference notes referenced: Mining Forum Europe (April 2025) and HC Wainwright and John Tumantas conferences (2025). - Financial statements and period coverage: SEDAR interim financial statements (2025-06 to 2025-09) and annual statements (2024) with mineral properties, cash, and shareholder equity. - Investor presentation data includes major holders and capitalization; material details cited above.

Note: Time series price data not provided; price-based technical analysis could not be performed. If you provide the time-series data, I can add a precise technical analysis with defined support/resistance and breakout levels.