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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000917225-10-000021.txt : 20101124
<SEC-HEADER>0000917225-10-000021.hdr.sgml : 20101124
<ACCEPTANCE-DATETIME>20101124143221
ACCESSION NUMBER:		0000917225-10-000021
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20101124
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101124
DATE AS OF CHANGE:		20101124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOLITARIO EXPLORATION & ROYALTY 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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32978
		FILM NUMBER:		101214632

	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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOLITARIO RESOURCES CORP
		DATE OF NAME CHANGE:	20000711
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>mtham8k.htm
<TEXT>
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<B><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B> </P>
<B><P ALIGN="CENTER">Washington, D.C. 20549</B> </P>
<B><P ALIGN="CENTER">Form&nbsp;8-K</P>
</B><FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P ALIGN="CENTER">Date of Report (Date of earliest event reported): November 23, 2010 </P>
</FONT><B><P ALIGN="CENTER">SOLITARIO EXPLORATION &amp; ROYALTY CORP.</P>
</B><FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant as specified in its charter) </P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 WIDTH=503>
<TR><TD WIDTH="38%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">Colorado<BR>
(State or other jurisdiction of<BR>
incorporation or organization) </FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">001-32978<BR>
(Commission<BR>
File Number) </FONT></TD>
<TD WIDTH="36%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">84-1285791<BR>
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT SIZE=2><P ALIGN="CENTER">4251 Kipling Street, Suite 390<BR>
Wheat Ridge, CO 80033<BR>
(Address of principal executive offices) </P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 WIDTH=484>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Registrant's telephone number, including area code:</FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">(303) 534-1030</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT SIZE=2><P ALIGN="CENTER">Not Applicable <BR>
(Former name or former address, if changed since last report) </P><DIR>
<DIR>

<P ALIGN="LEFT">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the <BR>
filing obligation of the registrant under any of the following provisions:</P></DIR>
</DIR>
</FONT>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 WIDTH=572>
<TR><TD WIDTH="2%" VALIGN="TOP">
<FONT FACE="Wingdings" SIZE=2><P ALIGN="LEFT">o</FONT></TD>
<TD WIDTH="98%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17&nbsp;CFR 230.425)</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP">
<FONT FACE="Wingdings" SIZE=2><P ALIGN="LEFT">o</FONT></TD>
<TD WIDTH="98%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17&nbsp;CFR 240.14a-12)</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP">
<FONT FACE="Wingdings" SIZE=2><P ALIGN="LEFT">o</FONT></TD>
<TD WIDTH="98%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act <BR>
(17&nbsp;CFR&nbsp;240.14d-2(b))</FONT></TD>
</TR>
<TR><TD WIDTH="2%" VALIGN="TOP">
<FONT FACE="Wingdings" SIZE=2><P ALIGN="LEFT">o</FONT></TD>
<TD WIDTH="98%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act <BR>
(17&nbsp;CFR&nbsp;240.13e-4(c))</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<P ALIGN="LEFT"></P>
<FONT SIZE=2><P ALIGN="CENTER">1</P>
<P ALIGN="LEFT">&lt;PAGE&gt;</P>
<P ALIGN="LEFT"></P></FONT>
<TABLE BORDER=0 CELLSPACING=0 WIDTH=624>
<TR><TD WIDTH="13%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="LEFT">Item 8.01</B></FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="LEFT">Other Events</B></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">On November 23, 2010, Solitario Exploration &amp; Royalty Corp. (&quot;Solitario&quot;) announced an update on its activities at its Mt. Hamilton project near Ely Nevada.  Solitario has initiated core drilling on the advanced Mt. Hamilton gold project situated at the southern end of the prolific Battle Mountain gold trend in eastern Nevada.  Two core rigs are now drilling as part of a twelve-hole program to provide feasibility-level geotechnical, hydro-geologic and infill resource information for the feasibility study that is now underway.</P>
<P ALIGN="LEFT">In addition, Solitario made the $300,000 advanced royalty payment to the underlying owners of the Mt. Hamilton lease as prescribed in the binding Letter of Intent (&quot;LOI&quot;) to joint venture the Mt. Hamilton gold project.  Solitario can earn up to an 80% interest in the property by completing a bankable feasibility study and making future property and royalty payments.  Solitario and Ely have mutually agreed to extend the date to form a jointly held limited liability company (the &quot;LLC) to December 20, 2010, to allow the transfer of Ely's Mt. Hamilton gold assets and ownership interests by DHI Minerals (U.S.) Ltd., a wholly owned subsidiary of Ely.  All other terms of the LOI previously approved by Ely shareholders and the TSX Venture Exchange remain unchanged.  As part of its initial earn-in commitment, Solitario is committed to spend a minimum of $1.0 million on exploration and feasibility work by August 26, 2011.  For a more complete list of the terms and conditions under the LO
I, a copy of the LOI is available online at www.sedar.com, www.solitarioxr.com &amp; www.elygoldandminerals.com</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="LEFT">ITEM 9.01</B></FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="LEFT">FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="LEFT"> Exhibits</U></FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="LEFT">Exhibit Description</U> </FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">99.1</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Solitario Exploration &amp; Royalty Corp. press release dated November 23, 2010</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2><P ALIGN="CENTER">2</P>
<P ALIGN="LEFT">&lt;PAGE&gt;</P>
</FONT><B><P ALIGN="CENTER">SIGNATURES</B> </P>
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned thereunto duly authorized. </P>
<P ALIGN="LEFT">November 24, 2010 </P></FONT>
<P ALIGN="RIGHT"><TABLE BORDER=0 CELLSPACING=0 WIDTH=288>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=2><P ALIGN="LEFT">Solitario Exploration &amp; Royalty Corp.</FONT></TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">&nbsp; </FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;</FONT></TD>
<TD WIDTH="91%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">By: </FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;</FONT></TD>
<TD WIDTH="91%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="LEFT">/s/&nbsp;James R. Maronick</U></FONT></TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="BOTTOM">
<FONT SIZE=2><P ALIGN="LEFT">&nbsp;</FONT></TD>
<TD WIDTH="91%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">James R. Maronick, Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
</P>

<P ALIGN="LEFT"></P>
<B><P ALIGN="CENTER">EXHIBIT INDEX</P></B>
<TABLE BORDER=0 CELLSPACING=0 WIDTH=624>
<TR><TD WIDTH="13%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="LEFT">Exhibits</U></FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<U><FONT SIZE=2><P ALIGN="LEFT">Exhibit Description</U> </FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">99.1</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="LEFT">Solitario Exploration &amp; Royalty Corp. press release dated November 23 , 2010</FONT></TD>
</TR>
</TABLE>

<B><FONT SIZE=2><P ALIGN="LEFT"></P>
</B><P ALIGN="CENTER">3</P>
<B><P ALIGN="LEFT"></P></B></FONT></BODY>
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<FONT FACE="Arial"><P ALIGN="RIGHT">Exhibit 99.1</P>
</FONT><B><FONT FACE="Arial" SIZE=3><P ALIGN="RIGHT">November 23, 2010</P>
</FONT><U><FONT FACE="Arial"><P ALIGN="CENTER">SOLITARIO AND ELY GOLD UPDATES PROGRESS<BR>
 ON MT. HAMILTON GOLD PROJECT, NEVADA </P>
</U></FONT><FONT FACE="Calibri" SIZE=3><P ALIGN="JUSTIFY">Denver, Colorado:  </B>Solitario Exploration &amp; Royalty Corp. ("Solitario;" NYSE Amex: <B>XPL;</B> TSX: <B>SLR</B>) and Ely Gold &amp; Minerals Inc. ("Ely;" TSX.V: <B>ELY</B>) jointly announce that Solitario has initiated core drilling on the advanced Mt. Hamilton gold project situated at the southern end of the prolific Battle Mountain gold trend in eastern Nevada.  Two core rigs are now drilling as part of a twelve-hole program to provide feasibility-level geotechnical, hydro-geologic and infill resource information for the feasibility study that is now underway.</P>
<P ALIGN="JUSTIFY">In addition, Solitario made the $300,000 advanced royalty payment to the underlying owners of the Mt. Hamilton lease as prescribed in the binding Letter of Intent ("LOI") to joint venture the Mt. Hamilton gold project.  Solitario can earn up to an 80% interest in the property by completing a bankable feasibility study and making future property and royalty payments.  Solitario and Ely have mutually agreed to extend the date to form a jointly held limited liability company (the "LLC) to December 20, 2010, to allow the transfer of Ely's Mt. Hamilton gold assets and ownership interests by DHI Minerals (U.S.) Ltd., a wholly owned subsidiary of Ely.  All other terms of the LOI previously approved by Ely shareholders and the TSX Venture Exchange remain unchanged.  As part of its initial earn-in commitment, Solitario is committed to spend a minimum of $1.0 million on exploration and feasibility work by August 26, 2011.  For a more complete list of the terms and conditions under the LOI, a copy of
 the LOI is available online at www.sedar.com, www.solitarioxr.com &amp; www.elygoldandminerals.com</P>
<B><P ALIGN="JUSTIFY">About Solitario</P>
</B><P ALIGN="JUSTIFY">Solitario is a gold, silver, platinum-palladium, and base metal exploration and royalty company actively exploring in Brazil, Mexico, Peru and Nevada.  Solitario has significant business relationships with Votorantim Metais, Compania de Minas Buenaventura S.A.A. Anglo Platinum, and Newmont Mining.  Solitario has approximately US$16 million in net cash and marketable securities.  Solitario is traded on the NYSE Amex ("XPL") and on the Toronto Stock Exchange ("SLR").  Additional information about Solitario is available online at www.solitarioxr.com.</P>
<P ALIGN="CENTER">1</P>
<P ALIGN="LEFT">&lt;PAGE&gt;</P>
<B><P ALIGN="LEFT">About Ely</P>
</B><P ALIGN="JUSTIFY">Ely is focused on acquisition and development of gold resources in the Americas. The Company is currently evaluating other near term production assets with a partnership business model focused on cash flow.  Ely is traded on the TSX Venture Exchange ("ELY").  Additional information about Ely is available online at:</P>
<P ALIGN="JUSTIFY"> www.elygoldandminerals.com</P>
</FONT><FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">FOR MORE INFORMATION AT SOLITARIO, CONTACT:</P>
<P ALIGN="LEFT"></P></FONT>
<TABLE BORDER=0 CELLSPACING=1 CELLPADDING=7 WIDTH=324>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">Debbie  Mino-Austin<BR>
Director - Investor <BR>
Relations </FONT></TD>
<TD WIDTH="41%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">(800) 229-6827</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">Christopher E. Herald<BR>
President &amp; CEO</FONT></TD>
<TD WIDTH="41%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">(303) 534-1030</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">FOR MORE INFORMATION AT ELY, CONTACT:</P>
<P ALIGN="LEFT"></P></FONT>
<TABLE BORDER=0 CELLSPACING=1 CELLPADDING=7 WIDTH=324>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">Steve Kenwood<BR>
Director</FONT></TD>
<TD WIDTH="41%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">(604) 488-1104</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">Trey Wasser<BR>
President & CEO</FONT></TD>
<TD WIDTH="41%" VALIGN="BOTTOM">
<FONT FACE="Arial" SIZE=3><P ALIGN="LEFT">(940) 365-1314</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial" SIZE=3><P ALIGN="JUSTIFY"></P>
</FONT><I><FONT FACE="Arial" SIZE=2><P ALIGN="JUSTIFY">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. </P>
<P ALIGN="JUSTIFY">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. 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.</P><DIR>
<DIR>

</I><P ALIGN="LEFT"><A NAME="RANGE!C5:K25"></A></P></DIR>
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