Mr. Wayne Hubert reports

INZINC CLOSES NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND NON-FLOW-THROUGH UNITS FOR AGGREGATE GROSS PROCEEDS OF $1,047,000

Inzinc Mining Ltd. has closed its non-brokered private placement for aggregate gross proceeds of $1,047,000, effective April 17, 2026. The offering, previously announced in Inzinc's news release dated March 24, 2026, consisted of: (i) 5,962,500 common shares of the company, each issued as a flow-through share, at a price of eight cents per flow-through share; and (ii) 11.4 million non-flow-through units at a price of five cents per unit.

Proceeds from the issuance of the flow-through shares will support a planned 2026 diamond drilling program targeting new sedex (sedimentary exhalative) discoveries -- primarily zinc with associated lead, silver and potentially gallium (both zinc and gallium are considered critical minerals) -- at the company's wholly owned Indy project, located approximately 90 kilometres southeast of Prince George in central British Columbia. Discoveries across 2025 culminated in the drill-defined extension of the B-9 zone to over 1,000 metres of strike length, which remains open for expansion. Significant drill results included 15.4 per cent zinc, 1.3 per cent lead and 7.2 grams per tonne silver over 4.2 metres, which included a very high-grade interval of 20.1 per cent zinc, 1.7 per cent lead and 9.5 grams per tonne silver over 3.2 metres at the new B-9 Apex zone, which also remains open for expansion. Drill permits have been received and drilling is expected to begin in mid-May, 2026.

Each flow-through share will qualify as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada). The proceeds of the flow-through shares will be used to incur eligible expenses related to the Indy project that qualify:

1. As Canadian exploration expenses (as this term is defined in the tax act) which may be renounced by the company pursuant to the tax act;
2. Either as flow-through mining expenditures or, if the company so determines, as flow-through critical mineral mining expenditures (as both terms are defined in the tax act);
3. For flow-through shares purchased by eligible British Columbia investors, as British Columbia flow-through mining expenditures that meet the criteria set forth in Subsection 4.721(1) of the Income Tax Act (British Columbia).

The company plans to incur qualifying expenditures on or before Dec. 31, 2027 (or such other period as may be permissible under applicable tax legislation), and renounce all the qualifying expenditures in favour of investors of the flow-through shares with an effective date not later than Dec. 31, 2026.

Each unit consists of one non-flow-through common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one non-flow-through common share at an exercise price of 10 cents per warrant share until 4:30 p.m. Pacific Time on April 17, 2028.

Proceeds from the issuance of the units will be used for general working capital.

The securities issued pursuant to the offering will be subject to a four-month-and-one-day hold period expiring on Aug. 18, 2026, in accordance with applicable securities laws.

In connection with the offering, the company paid finders' fees in cash of $13,500.

Louis Montpellier, Kerry Curtis, Michael Westcott, Wayne Hubert and Joyce Musial, each a director or senior officer of the company, subscribed for a total of 687,500 flow-through shares and 6.4 million units under the offering. The participation of the directors and officers in the offering constituted a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities to be issued nor the fair market value of the consideration for the securities to be issued exceed 25 per cent of the company's market capitalization as calculated in accordance with MI 61-101.

About Inzinc Mining Ltd.

Inzinc has discovered and is advancing near-surface exploration at the 100-per-cent-owned Indy project in central British Columbia, Canada. The extensive tenure at Indy covers 200 square kilometres and a 30-kilometre length of underexplored, prospective strata in central British Columbia. The Indy project is well located with respect to road access, rail, power, port and smelter infrastructure. In 2025, the company announced the extension of the B-9 mineralized trend to a drill-defined strike length of greater than 1,000 metres and include:

• Significant drill results from B-9 Apex zone (replacement mineralization):
  • 15.4 per cent Zn, 1.3 per cent Pb and 7.2 g/t Ag over 4.2 metres;
  • Including 20.1 per cent Zn, 1.7 per cent Pb and 9.5 g/t Ag over 3.2 m;
• Significant drill results from the near-surface B-9 discovery zone (primary mineralization):
  • 8.0 per cent Zn, 2.0 per cent Pb and 16.2 g/t Ag over 9.9 m;
  • 11.0 per cent Zn, 2.3 per cent Pb and 27.1 g/t Ag over 3.0 m;
  • 9.3 per cent Zn, 2.4 per cent Pb and 18.0 g/t Ag over 3.1 m;
  • 5.5 per cent Zn, 0.5 per cent Pb and 3.4 g/t Ag over 6.7 m;
  • 3.3 per cent Zn, 0.7 per cent Pb and 7.4 g/t Ag over 19.1 m.

South32 Ltd. became a major tenure holder in the Indy belt by staking approximately 200 square kilometres of adjacent claims in late 2021.

Additionally, Inzinc will receive 50 per cent of the revenue (NSR) from the sale of indium mined from American West Metals' West Desert project in Utah. Through its equity investment in American West, Inzinc is also exposed to a portfolio of North American base metals projects.

Qualified person

Patrick McLaughlin, PGeo, an independent qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and a registered professional geoscientist in British Columbia, has approved the technical content of this news release.

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