Solitario Resources - Newmont Mining Sign Definitive Agreements on Strategic Alliance, Private Placement, Yanacocha Royalty and Work Commitment

• Published in: Marketwire p. 1
• Format: Trade Publication Article
• Language: English
• Published: Toronto Intrado Digital Media Canada Inc 19.01.2005

Solitario is a gold, platinum-palladium and base metal exploration company actively exploring in Peru, Brazil, Bolivia and Nevada (USA). Solitario is traded on the Toronto Stock Exchange (TSX:SLR). Solitario also holds an approximate 13.6% interest in Crown Resources Corporation (OTCBB:CRCE) on a fully diluted basis. Crown has signed a definitive acquisition agreement with Kinross Gold Corporation (TSX:K) (NYSE:KGC) of Toronto, Canada, whereby Kinross will acquire Crown (see Crown news release dated Nov. 20, 2003). Solitario and Newmont will mutually select specific regions ("Alliance Projects") in South America to explore for gold. The first such Alliance Project is approximately 4,000 square kilometers in size and located in southern Peru. Solitario will initiate its exploration program beginning in early February. Solitario will own 100% of any property acquired ("Alliance Property") subject to a sliding scale royalty to a maximum of 2% NSR royalty in favor of Newmont and Newmont's right to joint venture any acquired Alliance Property (see Solitario's Nov. 22, 2004 release for details). Solitario will spend approximately US$3.8 million on exploration as its contribution to the Strategic Alliance.