9.97% Investment in Vendetta Mining

On May 5, 2016, Solitario made a strategic 9.97% equity investment in Vendetta Mining Corp. Solitario purchased 7,240,000 units of Vendetta for total consideration of Cdn$362,000. Each unit consists of one common share priced at Cdn$0.05 per share and one full warrant with a two-year term and exercisable at Cdn$0.10. The strategic investment was made pursuant to a non-brokered private placement by Vendetta totaling Cdn$2.5 million. Solitario will own 9.97% of the outstanding shares of Vendetta post-financing and 11.21% on a fully diluted basis. Assuming exercise of all of the warrants by Solitario, and no other warrants or options are exercised, it would own 18.13% of the common shares of Vendetta.
 
Vendetta's Pegmont Lead/zinc/silver Deposit

Vendetta owns the Pegmont lead/zinc deposit located in northwest Queensland, Australia.  It is situated approximately 175 km southeast of Mount Isa, 130 km south-southeast of Cloncurry and 700 km west-southwest of Townsville.  Within 30 km of the property, there are a number of producing mines in the area, including, BHP Billiton’s Cannington Silver Lead Zinc Mine, Chinova’s Osborne Copper-Gold operations and Starra Gold-Copper Mine.
 
For additional information on the Pegmont project please
click here.

 


Solitario Exploration & Royalty Corp.
4251 Kipling Street, Suite 390; Wheat Ridge, CO 80033 | Tel: 303-534-1030; Fax: 303-534-1809