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Segment Reporting

3 Months Ended

Mar. 31, 2013

10. Segment Reporting

Solitario operates in two segments, (i) mineral exploration and (ii) mining development and operations. Solitario is capitalizing Mt. Hamilton development and operations costs subsequent to February 22, 2012, as detailed above in Note 2, “Mineral properties.” The following summarizes Solitario segment activity for the three months ended March 31, 2013 and 2012:

(in thousands)	Three months ended March 31, 2013
	Mt Hamilton	Exploration	Corporate and Other	Consolidated
Exploration expense	$ -	$362	$ -	$ 362
Interest expense (2)	-	-	-	-
Other (1)	7	351	443	801
Pre-tax loss	$ 7	$713	$ 443	$1,163
Total assets (3)(4)	$14,236	$1,395	$6,351	$21,982
Capital Expenditures (2)	$ 515	$ -	$ -	$ 515

1. Exploration expense other includes loss on unconsolidated subsidiary of $313

2. Interest cost of $180 and depreciation of $8 have been capitalized to Mt. Hamilton mineral properties.

3. Exploration total assets include investment in unconsolidated subsidiary of $852.

4. Corporate and other total assets include investment in marketable equity securities of $5,683.

(in thousands)	Three months ended March 31, 2012
	Mt Hamilton	Exploration	Corporate and Other	Consolidated
Exploration expense	$169	$355	$ -	$524
Interest expense	53	-	15	68
Other (1)(3)	12	312	55	379
Pre-tax loss	$234	$667	$70	$971
Total assets (2)(4)	$9,277	$1,895	$9,295	$20,467
Capital Expenditures	$ 355	$ -	$ 9	$ 364

1. Exploration expense other includes loss on unconsolidated subsidiary of $109

2. Exploration total assets include investment in unconsolidated subsidiary of $1,544.

3. Corporate and other includes gain on sale of marketable equity securities of $332

4. Corporate and other total assets include investment in marketable equity securities of $8,921