Solitario Exploration & Royalty To Acquire Zazu Metals

DENVER, CO - Solitario Exploration & Royalty Corp. and Zazu Metals Corporation have entered into a definitive arrangement agreement pursuant to which Solitario has agreed to acquire all of the issued and outstanding common shares of Zazu by way of a statutory plan of arrangement under the Canada Business Corporations Act.

Chris Herald, Chief Executive Officer of Solitario said “We are very pleased to announce this exciting opportunity that will create value for both Solitario and Zazu shareholders.  Since the sale of the Mt. Hamilton project in 2015, Solitario has remained extremely disciplined in its evaluation of growth initiatives while preserving a robust balance sheet and tight capital structure.  We are confident that we have both the technical and financial capabilities to significantly increase the value of Zazu’s Lik project by moving the asset through feasibility and permitting.  We look forward to working with Zazu’s world-class joint venture partner Teck to pursue a development path beneficial to all parties.”

Gil Atzmon, Founder, Chairman and Chief Executive Officer of Zazu said, “This combination represents a unique opportunity to create a leading zinc development company with two high quality assets in the Americas.  Zazu shareholders will benefit from increased diversification and access to capital, while importantly maintaining a focus on high-grade resources.  We see significant potential in Solitario’s asset base and believe the combined company will be well positioned to take advantage of increased interest in zinc.”