Trey Wasser, President and CEO of Ely Gold, stated: "This sale will provide Ely with the capital to focus on advancing our 100% owned Green Springs project, located just seven miles south of Mt. Hamilton. Green Springs is fully permitted for exploration and we expect to begin a drill program this fall."Isser Elishis, Managing Partner and Chief Investment Officer of Waterton's investment adviser, said, "We are pleased to have completed the purchase of Mt. Hamilton from Solitario and Ely Gold. The acquisition of Mt. Hamilton will add another key development asset to Waterton's growing portfolio of high-quality Nevada assets." Advisors and Legal Counsel Maxit Capital LP acted as financial advisor to both Solitario and Ely Gold and provided fairness opinions to their respective boards of directors. Solitario's US legal counsel is Davis Graham & Stubbs LLP and Polsinelli PC, and its Canadian legal counsel is Fogler Rubinoff LLP. Ely Gold's US legal counsel is Parsons Behle and Latimer LLP and its Canadian legal counsel is Holmes & King. Waterton's US legal counsel is Parr Brown Gee and Loveless PC and its Canadian legal counsel is Davies Ward Phillips & Vineberg LLP. About Solitario Solitario is a precious and base metal exploration and royalty company. Recently, a significant focus of Solitario's has been on financing and potentially developing 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 significant joint venture with Milpo Mining, Votorantim Metais's 51%-owned affiliate, on its advanced Bongará high-grade zinc project in Peru. Additional information about Solitario is available at www.solitarioxr.com. About Ely Gold Ely Gold is focused on the acquisition and development of gold resources in Nevada, including its Green Springs property, 7 miles south of Mt. Hamilton. Ely Gold is traded on the TSXV. Additional information about Ely Gold is available online at www.elygoldandminerals.com. About Waterton Waterton is a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects located in stable jurisdictions. Waterton's cross-functional, fully-integrated, in-house team of professionals have significant mining, financial and legal expertise. Waterton's proactive approach to asset management, significant sector knowledge and ability to leverage extensive industry relationships has resulted in a strong track record of managing investments in the metals sector. Additional information about Waterton is available online at www.watertonglobal.com. This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of the Sellers' managements on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Sellers undertake no obligation to update these forward-looking statements if their managements' beliefs, estimates or opinions, or other factors, should change, unless required by law, including the rules and regulations of the NYSE MKT or the TSXV.
Neither the NYSE MKT nor 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 and accuracy of this press release.