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<SEC-DOCUMENT>0000917225-07-000032.txt : 20070921
<SEC-HEADER>0000917225-07-000032.hdr.sgml : 20070921
<ACCEPTANCE-DATETIME>20070921124948
ACCESSION NUMBER:		0000917225-07-000032
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20070921
DATE AS OF CHANGE:		20070921
EFFECTIVENESS DATE:		20070921

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOLITARIO RESOURCES CORP
		CENTRAL INDEX KEY:			0000917225
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				841285791
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-146227
		FILM NUMBER:		071128773

	BUSINESS ADDRESS:	
		STREET 1:		4251 KIPLING STREET
		STREET 2:		SUITE 390
		CITY:			WHEAT RIDGE
		STATE:			CO
		ZIP:			80033
		BUSINESS PHONE:		3035341030

	MAIL ADDRESS:	
		STREET 1:		4251 KIPLING STREET
		STREET 2:		SUITE 390
		CITY:			WHEAT RIDGE
		STATE:			CO
		ZIP:			80033
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<B><FONT SIZE=2><P ALIGN="RIGHT">Registration No. 333-</B> </P>
</FONT><B><P ALIGN="CENTER"><A NAME="FIS_UNIDENTIFIED_TABLE"></A>UNITED STATES<FONT SIZE=2><BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
____________________</B><BR>
&nbsp;</P>
</FONT><B><FONT SIZE=5><P ALIGN="CENTER">FORM S-8</FONT><FONT SIZE=2><BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR>
____________________</B><BR>
&nbsp;</P>
</FONT><B><FONT SIZE=6><P ALIGN="CENTER">Solitario Resources Corporation</B></FONT><I><FONT SIZE=2><BR>
(Exact Name of Registrant as Specified in its Charter)</I><BR>
&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="35%" VALIGN="MIDDLE">
<B><FONT SIZE=2><P ALIGN="CENTER">Colorado</B><I><BR>
(State or other jurisdiction of incorporation<BR>
or organization)</I></FONT></TD>
<TD WIDTH="34%" VALIGN="MIDDLE">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="31%" VALIGN="MIDDLE">
<B><FONT SIZE=2><P ALIGN="CENTER">84-1285791</B><I><BR>
(I.R.S. Employer Identification Number)</I></FONT></TD>
</TR>
</TABLE>

<B><FONT SIZE=2><P ALIGN="CENTER">Solitario Resources Corporation<BR>
4251 Kipling Street, Suite 390<BR>
Wheat Ridge, Colorado 80033<BR>
(303) 534-1030</B><I><BR>
&nbsp;(Address of Principal Executive Offices)</I><B><BR>
____________________</B><BR>
&nbsp;<A NAME="FIS_STOCK_PLANS"></A></P>
<B><P ALIGN="CENTER">The Solitario Resources Corporation 2006 Stock Option Incentive Plan (as amended)</B><I><BR>
(Full Title of the Plan)</I><B><BR>
____________________</B><BR>
&nbsp;</P>
<B><P ALIGN="CENTER">CT Corporation<BR>
1675 Broadway, Suite 1200<BR>
Denver, Colorado 80202<BR>
(303) 829-2500</B><I><BR>
(Name  address and telephone number, including area code,  of Agent for Service)</I><B><BR>
____________________</B><BR>
&nbsp;</P>
<I><P ALIGN="CENTER">Copies to</I><BR>
&nbsp;</P>
<B><P ALIGN="CENTER">Clifford R. Pearl Esq.<BR>
Solomon Pearl Blum Heymann &amp; Stich LLP<BR>
1801 Broadway, Suite 500<BR>
Denver, Colorado 80202<BR>
Telephone (303) 832-6686<BR>
Facsimile (303) 832-6653<BR>
____________________</P>
<P ALIGN="CENTER">1</P>

<P>&lt;PAGE&gt;</P>
</B></FONT><P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><A NAME="eolPage2"><A NAME="FIS_REGISTRATION_FEE"></A></A></P>
<B><FONT SIZE=2><P ALIGN="CENTER"><A NAME="FIS_UNIDENTIFIED_TABLE_2"></A>CALCULATION OF REGISTRATION FEE</P></B></FONT>
<TABLE BORDER=0 CELLSPACING=2 BORDERCOLOR="#000000" WIDTH=768>
<TR><TD WIDTH="25%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Title of each<BR>
class of securities<BR>
to be registered</B></FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount to be<BR>
Registered</B> </FONT><SUP><FONT SIZE=1>(1)</SUP></FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed maximum<BR>
offering price<BR>
per share</B></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed maximum<BR>
aggregate<BR>
offering price</B></FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount of<BR>
registration<BR>
fee</B></FONT></TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<FONT SIZE=2><P>Common Stock, par value $0.01 per share, subject to outstanding stock options under the 2006 Stock Option Plan</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP"><DIR>

<FONT SIZE=2><P ALIGN="RIGHT">___2,197,000</DIR>
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">$_3.19 </FONT><SUP><FONT SIZE=1>(2)</SUP></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">$___7,019,000</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$__215.48</FONT></TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<FONT SIZE=2><P>Common Stock, par value $0.01 per share, available for future grants under the 2006 Stock Option Plan</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP"><DIR>

<FONT SIZE=2><P ALIGN="RIGHT">____585,500</DIR>
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">$_4.42 </FONT><SUP><FONT SIZE=1>(3)</SUP></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">$____2,588,000</P>
<P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$___79.45</FONT></TD>
</TR>
<TR><TD WIDTH="25%" VALIGN="TOP">
<FONT SIZE=2><P>Total</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP"><DIR>

<FONT SIZE=2><P ALIGN="RIGHT">___2,782,500</DIR>
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">$____9,607,000</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$__294.93</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=2><P>(1)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=2><P>Pursuant to Rules 416(a) and (b) under the Securities Act of 1933, as amended (the &quot;Securities Act&quot;), this Registration Statement shall also cover any additional shares of the Registrant's Common Stock that become issuable under the 2006 Stock Option Plan as set forth herein by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of the Registrant's Common Stock.&nbsp;&nbsp;In addition, pursuant to Rule 416(c) under the Securities Act, this Registration Statement covers an indeterminate amount of interests to be offered or sold pursuant to the employee benefit plan described herein.</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=2><P>(2)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">Solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and (h) under the Securities Act, the maximum offering price per share with respect to shares being registered hereunder that have already been allocated to options granted under the 2006 Stock Option Plan, the fee is calculated on the basis of the weighted average price in Canadian dollars at which such options may be exercised.  For purposes of calculating this amount in U.S. dollars, Solitario used a conversion ratio of 0.97215 as of  September 17, 2007.</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=2><P>(3)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) under the Securities Act. With respect to options to purchase shares that have not yet been granted, the fee is calculated on the basis of the average of the high and low prices of the Registrant's common stock in Canadian Dollars on September 17, 2007, as reported on the Toronto Stock Exchange. For purposes of calculating this amount in U.S. dollars, Solitario used a conversion ratio of 0.97215 as of September 17, 2007.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P>&nbsp;</P>
<P ALIGN="CENTER">2</P>

<P>&lt;PAGE&gt;</P>
</FONT>
<P ALIGN="RIGHT"><A NAME="eolPage3"><A NAME="FIS_PART_I"></A></A></P>
<B><FONT SIZE=2><P ALIGN="CENTER">PART I</P>
<P ALIGN="CENTER">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT><BR>
</P>
<FONT SIZE=2><P> As permitted by the rules of the Securities and Exchange Commission (the &quot;Commission&quot;), this Registration Statement omits the information specified in Part&nbsp;I of Form S-8.&nbsp;&nbsp;The document containing the information specified in Part&nbsp;I of this Registration Statement has been sent or given to eligible employees as specified in Rule 428(b) promulgated under the Securities Act.&nbsp;&nbsp;Such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424 under the Securities Act.</P>
<P ALIGN="CENTER"><A NAME="FIS_PART_II"></A>&nbsp; <B>PART II</P>
<P ALIGN="CENTER">NFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>
<P><A NAME="FIS_DOCUMENTS_BY_REFERENCE"></A>Item 3.&nbsp;Incorporation of Documents by Reference.</P>
</B><P>Solitario Resources Corporation (the &quot;Registrant&quot;) is subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;) and in accordance therewith files reports and other information with the Commission.&nbsp;&nbsp;The following documents, which are on file with the Commission, are incorporated herein by reference and made a part hereof:</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>1.</FONT></TD>
<TD WIDTH="93%" VALIGN="TOP">
<FONT SIZE=2><P>The Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2006, filed with the Commission on February 28, 2007.</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>2.</FONT></TD>
<TD WIDTH="93%" VALIGN="TOP">
<FONT SIZE=2><P>The Registrant's Quarterly Reports on Form 10-Q for the periods ended March 31, 2007 and June 30, 2007, filed with the Commission on May 9, 2007 and August 1, 2007, respectively.</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>3.</FONT></TD>
<TD WIDTH="93%" VALIGN="TOP">
<FONT SIZE=2><P>The Registrant's Current Report on Form 8-K, filed with the Commission on March 16, 2007. </FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>4.</FONT></TD>
<TD WIDTH="93%" VALIGN="TOP">
<FONT SIZE=2><P>The description of the Registrant's Common Stock contained in the Registrant's Registration Statement on Form 8-A filed with the Commission on August 9, 2006, including any amendments or reports filed for the purpose of updating that description.</FONT></TD>
</TR>
</TABLE>


<FONT SIZE=2><P>All documents subsequently filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicated that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.&nbsp;&nbsp;Any such statement so modified or superseded shall not be deemed, except as so modi
fied or superseded, to constitute a part of this Registration Statement.</P>
</FONT>
<P>&nbsp;</P>
<P ALIGN="RIGHT"><A NAME="eolPage4"></A></P>
<P ALIGN="CENTER">3</P>
<P>&nbsp;</P>
<P>&lt;PAGE&gt;</P>

<B><FONT SIZE=2><P><A NAME="FIS_SECURITIES_DESCRIPTION"></A>Item 4.&nbsp;Description of Securities.</P>
</B><P> The class of securities to be offered under this Registration Statement is registered under Section 12 of the Exchange Act.</P>
<B><P><A NAME="FIS_EXPERTS"></A>Item 5.&nbsp;Interests of Named Experts and Counsel.</P>
</B><P> Not applicable.</P>
<B><P><A NAME="FIS_INDEMNIFICATION"></A>Item 6. Indemnification of Directors and Officers.</P>
</B><P ALIGN="JUSTIFY">The Board of Directors are entitled to determine the terms of such indemnification, including advance of expenses, and to give effect thereto through the adoption of Bylaws, approval of agreements, or by any other manner approved by the Board of Directors. Any amendment to or repeal of the authorization of indemnification contained in our Articles of Incorporation shall not adversely affect any right of a Director of Solitario thereunder with respect to any right to indemnification that arises prior to such amendment.</P>
<B><P><A NAME="FIS_EXEMPTION_FROM_REGISTRATION"></A>Item 7. Exemption from Registration Claimed.</P>
</B><P> Not applicable.</P>
<B><P><A NAME="FIS_EXHIBITS"></A>Item 8. Exhibits.<A NAME="FIS_UNIDENTIFIED_TABLE_3"></A></P></B></FONT>
<TABLE BORDER=0 CELLSPACING=2 BORDERCOLOR="#000000" WIDTH=737>
<TR><TD WIDTH="13%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;Exhibit</P>
<P>Numbers</FONT></TD>
<TD WIDTH="87%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Description</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>4.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Solitario Resources Corporation 2006 Stock Option Incentive Plan (as amended) (incorporated herein by reference to Appendix A to the Registrant's Definitive Proxy Statement filed with the Commission on April 30, 2007)</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>5.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Opinion of Solomon Pearl Blum Heymann &amp; Stich LLP</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>23.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Consent of Ehrhardt Keefe Steiner &amp; Hottman PC</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>23.2</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Consent of Solomon Pearl Blum Heymann &amp; Stich LLP is contained in its opinion, filed as Exhibit 5.1.</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>24.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Power of Attorney (included on signature page)</FONT></TD>
</TR>
</TABLE>


<P>&nbsp;</P>
<P ALIGN="RIGHT"><A NAME="eolPage5"></A></P>
<P ALIGN="CENTER">4</P>
<P>&nbsp;</P>
<P>&lt;PAGE&gt;</P>

<B><FONT SIZE=2><P><A NAME="FIS_UNDERTAKINGS"></A>Item 9. Undertakings</B>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(a)</FONT></TD>
<TD WIDTH="92%" VALIGN="TOP">
<FONT SIZE=2><P>The undersigned Registrant hereby undertakes:</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P><A NAME="SULPHCO_S8_090407_HTM_A_1">(1)</A></FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(i)</FONT></TD>
<TD WIDTH="82%" VALIGN="TOP">
<FONT SIZE=2><P>To include any prospectus required by section 10(a)(3) of the Securities Act;</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY"><A NAME="SULPHCO_S8_090407_HTM_A_1_I"></A>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(ii)</FONT></TD>
<TD WIDTH="82%" VALIGN="TOP">
<FONT SIZE=2><P>To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(iii)</FONT></TD>
<TD WIDTH="82%" VALIGN="TOP">
<FONT SIZE=2><P>To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</P>
<I><P>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</FONT></TD>
</TR>
</TABLE>
<DIR>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P></DIR>
</FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(2)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(3)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY"><A NAME="SULPHCO_S8_090407_HTM_A_3"></A>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(b)</FONT></TD>
<TD WIDTH="92%" VALIGN="TOP">
<FONT SIZE=2><P>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY"><A NAME="SULPHCO_S8_090407_HTM_B"></A>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=768>
<TR><TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>(c)</FONT></TD>
<TD WIDTH="92%" VALIGN="TOP">
<FONT SIZE=2><P>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as 
expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P>
</FONT><P ALIGN="CENTER">5</P>

<P>&lt;PAGE&gt;</P>
<P ALIGN="JUSTIFY"></P>
<P>&nbsp;</P>
<P ALIGN="RIGHT"><A NAME="eolPage6"><A NAME="FIS_SIGNATURES"></A></A></P>
<B><FONT SIZE=2><P ALIGN="CENTER"><A NAME="SULPHCO_S8_090407_HTM_A_6"></A> <A NAME="SULPHCO_S8_090407_HTM_A_6_III">SIGNATURES</A></P>
</B><P>Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Denver, State of Colorado, on this 20th day of September, 2007.&nbsp;</P></FONT>
<TABLE BORDER=0 CELLSPACING=4 BORDERCOLOR="#ffffff" WIDTH=768>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P>SOLITARIO RESOURCES CORPORATION</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>By:</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP">
<FONT SIZE=2><P>/s/&nbsp;Christopher E. Herald</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="35%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Christopher E. Herald </P>
<P>President and Chief Executive Officer</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>By:</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP">
<FONT SIZE=2><P>/s/&nbsp;James R. Maronick</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="35%" VALIGN="BOTTOM">
<FONT SIZE=2><P>James R. Maronick </P>
<P>Chief Financial Officer</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
</TABLE>


<FONT SIZE=2><P>&nbsp; &nbsp;<A NAME="FIS_POWER_OF_ATTORNEY"></A></P>
<B><P ALIGN="CENTER">POWER OF ATTORNEY</P><DIR>

</B><P>KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Christopher E. Herald and James R. Maronick, or either of them, as his true and lawful attorney-in-fact and agent, with full power of substitution for him in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorney-in-fact and agent, power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P></DIR>

<B><P>Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</B>&nbsp;</P></FONT>
<TABLE BORDER=0 CELLSPACING=2 BORDERCOLOR="#000000" WIDTH=768>
<TR><TD WIDTH="34%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="CENTER">SIGNATURE</FONT></TD>
<TD WIDTH="5%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="CENTER">&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="CENTER">TITLE</FONT></TD>
<TD WIDTH="5%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="CENTER">&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="CENTER">DATE</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="BOTTOM">
<FONT SIZE=2><P>/s/ Christopher E. Herald</FONT></TD>
<TD WIDTH="5%" VALIGN="MIDDLE">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>President and Chief Executive Officer, Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Christopher E. Herald</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>(Principal Executive Officer)</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="MIDDLE">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="BOTTOM">
<FONT SIZE=2><P>/s/ James R. Maronick</FONT></TD>
<TD WIDTH="5%" VALIGN="MIDDLE">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Chief Financial Officer</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>James R. Maronick </FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>(Principal Financial Officer)</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ Walter Hunt</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Vice President</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Walter Hunt</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ Steven A. Webster</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Chairman of the Board, Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Steven A. Webster</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ Mark E. Jones, III</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Vice-Chairman of the Board, Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Mark E. Jones, III</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ John Hainey</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>John Hainey</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ Leonard Harris</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Leonard Harris</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>/s/ Brian Labadie</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Director</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=2><P>September 19, 2007</FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P>Brian Labadie</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P>
</FONT><P ALIGN="CENTER">6</P>

<P>&lt;PAGE&gt;</P>
<P ALIGN="JUSTIFY"></P>
<P>&nbsp;</P>
<P ALIGN="RIGHT"><A NAME="eolPage7"></A></P>
<B><FONT SIZE=2><P ALIGN="CENTER"><A NAME="FIS_EXHIBIT_INDEX"></A>EXHIBIT INDEX</P>
</B><P ALIGN="CENTER">&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE_4"></A></P></FONT>
<TABLE BORDER=0 CELLSPACING=2 BORDERCOLOR="#000000" WIDTH=737>
<TR><TD WIDTH="13%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Exhibit</P>
<P>Numbers</FONT></TD>
<TD WIDTH="87%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Description</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="BOTTOM">
<FONT SIZE=2><P>&nbsp;Exhibit</P>
<P>Numbers</FONT></TD>
<TD WIDTH="87%" VALIGN="BOTTOM">
<FONT SIZE=2><P>Description</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>4.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Solitario Resources Corporation 2006 Stock Option Incentive Plan (as amended) (incorporated herein by reference to Appendix A to the Registrant's Definitive Proxy Statement filed with the Commission on April 30, 2007)</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>5.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Opinion of Solomon Pearl Blum Heymann &amp; Stich LLP</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>23.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Consent of Ehrhardt Keefe Steiner &amp; Hottman PC</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>23.2</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Consent of Solomon Pearl Blum Heymann &amp; Stich LLP is contained in its opinion, filed as Exhibit 5.1.</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P>24.1</FONT></TD>
<TD WIDTH="87%" VALIGN="MIDDLE">
<FONT SIZE=2><P>Power of Attorney (included on signature page)</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P><BR>
&nbsp;<A NAME="SULPHCO_EX0501_HTM"><A NAME="FIS_EXHIBIT_5"></A></A></P>
<P ALIGN="CENTER">7</P>
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<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exh231.htm
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<U><P ALIGN="RIGHT">Exhibit 23.1</P>
</U><P ALIGN="CENTER">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the incorporation by reference in this Form S-8 (the &quot;Registration Statement&quot;) of Solitario Resources Corporation of our report dated February 23, 2007, which appears in the Annual Report on Form 10-K of Solitario Resources Corporation for the year ended December 31, 2006.  </P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Ehrhardt Keefe Steiner &amp; Hottman PC </P>
<P>Denver, Colorado<BR>
September 19, 2007<BR>
</P>
<P ALIGN="CENTER">1</P>
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<TYPE>EX-5.1
<SEQUENCE>3
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<U><FONT SIZE=3><P ALIGN="RIGHT">Exhibit 5.1</P>
</U><P>September 20, 2007</P>

<P>Solitario Resources Corporation<BR>
4251 Kipling Street<BR>
Suite 390<BR>
Wheat Ridge, Colorado 80033<BR>
<I>Re. Registration Statement - Form S-8</P>
</I><P>Ladies and Gentlemen:</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel to Solitario Resources Corporation, a Colorado corporation (the &quot;Company&quot;), in connection with the Registration Statement on Form S-8 (the &quot;Registration Statement&quot;) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended&nbsp;(the &quot;1933 Act&quot;), for the registration of 2,782,500 shares of the Company's Common Stock, par value $0.01 per share (the &quot;Shares&quot;), which may be issued from time to time to certain employees, directors and consultants of the Company in connection with the Company's 2006 Stock Option Plan (as amended) (the &quot;Plan&quot;).</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You have requested our opinion as to the matters set forth below in connection with the Registration Statement. For purposes of rendering that opinion, we have examined the Registration Statement, copies of the Company's Plan, Articles of Incorporation, as amended, Bylaws, as amended, the corporate action of the Company that provides for the issuance of the Shares, such other documents as we deemed necessary and we have made such other investigation as we have deemed appropriate in order to express the opinion hereinafter set forth.  In rendering our opinion, we have also assumed the genuineness of all signatures, the authenticity of all documents and conformity with originals of documents submitted to us and made the assumptions that are customary in opinion letters of this kind. We have not verified any of those assumptions.  Our opinion set forth below is limited to the laws of the State of Colorado.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon and subject to the foregoing, it is our opinion that the Shares are duly authorized for issuance by the Company and, when issued in accordance with the terms of the Plan, will be validly issued, fully paid, and nonassessable.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion as Exhibit 5.1 and the filing of this consent as Exhibit 23.2.&nbsp;&nbsp;In giving our consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the 1933 Act or the rules and regulations thereunder.</P>
<P ALIGN="JUSTIFY"> Very truly yours,</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Solomon Pearl Blum Heymann &amp; Stich LLP</P>
<P>By</P>
<P>Clifford R. Pearl, Esq.</P>
<P ALIGN="CENTER">1</P>
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