Solitario Announces Mt. Hamilton Air Quality Permits Approved
May 12, 2015
Denver, Colorado: Solitario Exploration & Royalty Corp. ("Solitario;" NYSE MKT: XPL; TSX: SLR) and Ely Gold & Minerals ("Ely Gold;" TSX.V: ELY)
are pleased to announce that the Nevada Division of Environmental
Protection ("NDEP") has approved two air quality permits required for
construction of the Mt. Hamilton gold project in Nevada. The Class I
Operating Permit and Phase II Mercury Operating Permit to Construct
address all air quality controls for construction and operation of the
various elements of the project.
Chris Herald, President and CEO of Solitario, stated, "All the major
federal and state permits for the Mt. Hamilton gold project have now
been acquired. We would like to once again acknowledge all the
stakeholders that have participated in this process, especially the
diligent work of the State and Federal agencies."
Terms of the Mt. Hamilton LLC Joint Venture
Solitario and Ely Gold formed the Mt. Hamilton LLC ("MH-LLC"), a limited
liability company which holds 100% of the Mt. Hamilton project assets
under an Operating Agreement ("MH-Agreement"). Per the terms of the
MH-Agreement, DHI-US, Ely Gold's wholly owned US subsidiary, has a 20%
interest in the MH-LLC and Solitario has an 80% interest.
Solitario is a precious and base metal exploration and royalty company.
Solitario's main focus is on permitting, financing and potentially
constructing the Mt. Hamilton gold project in Nevada. Solitario controls
an 80% interest in Mt. Hamilton. Besides Solitario's interest in Mt.
Hamilton, Solitario also has a joint ventures with Votorantim Metais and
its 51%-owned affiliate, Milpo Mining, on its Bongará high-grade zinc
project in Peru. Additional information about Solitario is available at
About Ely Gold
Ely Gold is focused on the acquisition and development of gold resources
in Nevada, including its Green Springs property, 10 miles south of Mt.
Hamilton. Ely Gold is traded on the TSX Venture Exchange ("ELY").
Additional information about Ely Gold is available online at
FOR MORE INFORMATION AT SOLITARIO EXPLORATION, CONTACT:
Director -- Investor Relations
Christopher E. Herald
President & CEO
FOR MORE INFORMATION AT ELY GOLD, CONTACT:
President & CEO
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. Completion and approval of
all federal, state and local permitting activities is not assured. Legal
challenges could materially delay or change currently planned
operations, which may have an adverse effect on the Company. 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
and the United States Securities and Exchange Commission.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.