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Solitario Exploration & Royalty Corp.

Published : May 01st, 2013

Closing of Private Placement to Acquire 5,131,150 Shares of Ely Gold

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______________________________________________________

News Release: May 1, 2013 (PDF link)
______________________________________________________

SOLITARIO ANNOUNCES CLOSING OF PRIVATE PLACEMENT
TO ACQUIRE 5,131,150 SHARES OF ELY GOLD

Denver, Colorado: Solitario Exploration & Royalty Corp. ("Solitario;" NYSE MKT: XPL; TSX: SLR) announces that it has closed its previously announced private placement to acquire 5,131,150 shares (the "Shares") of Ely Gold & Minerals ("Ely Gold;" TSX.V: ELY) at a price of CDN$0.10 per share US$500,000. The Shares are subject to a four-month hold period in Canada, have not been registered for sale in the United States and were issued pursuant to an exemption from registration under Section 4(a)(2) of the Securities and Exchange Act of 1933, as amended, for offers and sales not involving any public offering.

The 5,131,150 Shares acquired represent approximately 7.7% of the Ely Gold's issued and outstanding Shares. Immediately after the acquisition, Solitario owned an aggregate of 8,464,483 Shares, representing approximately 12.68% of Ely Gold's outstanding Shares.

The securities were acquired by Solitario, by cash subscription, through a private placement by Ely Gold. Pursuant to a letter of intent dated August 26, 2010 between Solitario and Ely Gold (the "LOI"), as part of its earn-in to the Mt. Hamilton LLC joint venture, Solitario was required to subscribe for up to US$750,000 of Ely Gold stock by May 1, 2013. Ely Gold reduced Solitario's required subscription payment due on May 1, 2013 from US$750,000 to US$500,000. Ely Gold is required to use the proceeds from the private placement to pay Augusta Resource Corporation ("Augusta") US$750,000 due on June 1, 2013 and has agreed to pay the remaining US$250,000 of this required payment directly to Augusta. This private placement fulfills Solitario's 2013 funding requirement as mandated by the LOI. Pursuant to the LOI, Solitario is required to subscribe for up to an additional US$1,750,000 worth of additional Shares of Ely Gold, priced at the 20-day weighted market average price, calculated on the subscription date, with up to US$750,000 to be subscribed for on or before May 1, 2014, and up to US$1,000,000 to be subscribed for on or before May 1, 2015. However, per the LOI, Ely Gold has the option to reduce the amounts of the remaining US$1,750,000 subscriptions. Solitario will file an Early Warning Report as required by Canadian regulatory authorities under National Instrument 62-103 with regard to the private placement.

About Solitario

Solitario is a gold, silver, platinum-palladium, and base metal exploration, development and royalty company actively exploring in Brazil, Mexico, Peru and Nevada. Solitario has significant business relationships with Votorantim Metais, Hochschild Mining and Anglo Platinum. Solitario is traded on the NYSE MKT ("XPL") and on the Toronto Stock Exchange ("SLR"). Additional information about Solitario is available online at www.solitarioxr.com


For more information at Solitario, contact:


______________________________________________________

If you have problems accessing this release or have questions, please contact
Debbie Mino-Austin at (800) 229-6827 or Chris Herald, CEO at (303) 534-1030, #14.
Solitario Exploration & Royalty: 4251 Kipling St, #390, Wheat Ridge CO 80033

You are receiving this email because you have requested updated information on
Soltiario Exploration & Royalty and its projects and properties.
Should you no longer wish to receive information on Solitario


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Solitario Exploration & Royalty Corp.

EXPLORATION STAGE
CODE : SLR.TO
ISIN : US8342EP1070
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Solitario Exploration & Royalty is a gold and zinc development stage company based in United states of america.

Solitario Exploration & Royalty holds various exploration projects in Peru and in USA.

Its main exploration properties are PEDRA BRANCA and MERCURIO in Brazil, CHONTA, CHAMBARA, YANACOCHA and LA PROMESA in Peru, PACHUCA REAL in Mexico and MOUNT HAMILTON in USA.

Solitario Exploration & Royalty is listed in Canada and in United States of America. Its market capitalisation is CA$ 27.1 millions as of today (US$ 21.9 millions, € 18.9 millions).

Its stock quote reached its highest recent level on August 29, 1997 at CA$ 6.25, and its lowest recent point on March 20, 2020 at CA$ 0.22.

Solitario Exploration & Royalty has 38 690 000 shares outstanding.

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Financings of Solitario Exploration & Royalty Corp.
2/21/2014Commitments for $1,680,000 Private Placement
7/26/2013Closing of $2,059,589 Private Placement Including Insider Pu...
5/1/2013Closing of Private Placement to Acquire 5,131,150 Shares of ...
4/24/2013Private Placement with Ely Gold with Reduced Earn-in Payment
Project news of Solitario Exploration & Royalty Corp.
2/7/2014Zinc Uptrend Could Benefit Solitario Exploration
12/22/2010(Mount Hamilton)SOLITARIO AND ELY ENTER INTO DEFINITIVE JOINT VENTURE AGREEM...
1/12/2010(Bongarà)Major Expansion of Exploration & Development Activities on i...
1/7/2010(Pedra Branca)Drilling Results at Pedra Branca
1/29/2009(Bongarà)DRILLING RESULTS ON ITS BONGARÁ ZINC PROJECT, PERU
12/2/2008(Pedra Branca)ANNOUNCES ADDITIONAL MINERALIZATION INTERSECTED
3/13/2008(Pedra Branca)reported a major expansion in land holdings
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11/19/2014Solitario Announces Milpo to Manage It's Bongará Zinc Operat...
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9/2/2014Solitario Completes Environmental Assessment Process on Its ...
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12/3/2013Recent Transactions Bolster Solitario's Future Financial Pos...
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10/1/2013Announces Resources Sensitivities to Gold Price for Its Mt. ...
9/19/2013Announces Resource and Metallurgy Update for Its Mt. Hamilto...
8/20/2013Intersects 10.7 Meters Grading 50.8% Zinc + Lead on itsBonga...
8/7/2013Announces High-Grade Drilling Results on its Bongará Zinc Pr...
10/26/2012NI 43-101 Technical Report Filed for its Mt. Hamilton Gold P...
7/19/2011CEO Chris Herald to Make Presentation in Denver, CO on July ...
5/19/2011News Release
4/13/2011News Release
2/18/2011News Release
11/19/2009Updates 2010 Exploration Plans
2/7/2009Revise Previously Issued Financial Statements
11/10/2008to Present at John Tumazos Very Independent Research, LLC Me...
7/25/2008Five Drills Now Operating on Solitario Projects
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