Mr. Ritch Wigham reports

SLAVE LAKE ZINC UPDATE

Slave Lake Zinc Corp. has recently acquired additional historical information dating from the 1950s on the company's large-scale O'Connor Lake high-grade critical metals-zinc-lead property. The company continuously updates its database as new information becomes available. As a result, several highly prospective new areas have been outlined that will form part of next season's fieldwork. These new targets lie within the company's main structural corridor centred over the MWK Headframe deposit. These newly acquired results are summarized in the company's update (access on-line).

The new information, from a 1952 trench, documents mineralization within the MCO structure, which occurs seven kilometres west of the Headframe deposit and returned a trench assay of 0.97 ounce of gold per ton, 21 per cent lead, 6.7 per cent zinc and 1.2 ounces of silver per ton. Another historical sample at MCO from 1965 assayed 11.6 ounces of silver per ton, 0.4 per cent lead and 1.1 per cent zinc. This result indicates silver may occur in its natural state or as distinct silver minerals. Historic 1952 sampling at the BSM claims, approximately five kilometres northwest of the Headframe deposit, reported a trench sample assaying 0.88 ounce of gold per ton, 4.2 per cent lead and 19.4 per cent zinc. These new targets lie along strike of the main deposit structures. Lakes or swamps cover most of the intervening area. These are historic results and require verification.

The nature of the base metal mineralization is considered to be from a common, deep-seated hydrothermal source. The distribution of the precious metal showings indicates the possibility of regional-scale depositional zoning, a prospecting tool overlooked by the early zinc-lead explorers.

During the 2023 field season, forest fires forced the closure of much of the Northwest Territories and prevented Slave Lake, and all other regional explorers, from accessing their project. The company looks forward to detailed fieldwork for the 2024 exploration season, including the verification of these historic results and expanding the known resource by drilling priority targets at O'Connor Lake. Gary Vivian, PGeol, qualified person, of Aurora Geosciences, has reviewed the contents of this release.

Ritch Wigham, Slave Lake chief executive officer, commented: "The company continues to integrate historic information and expand our database. We intend to systematically pursue our inventory of highly prospective exploration targets. The application of modern exploration techniques will be used to evaluate the historical showings and new yet-to-be-discovered targets. The O'Connor Lake land package is underexplored. The company is working toward a drill plan for late 2024 or early 2025."

The company also announces the resignation of Steve Zadka as director, for personal reasons. The company wishes Mr. Zadka the best in his future endeavours.

About Slave Lake Zinc Corp.

Slave Lake Zinc is a company that aims to unlock the potential of its O'Connor Lake property, a historic site rich in zinc, lead and copper, situated in Canada's Northwest Territories. This property, found to the south of the Great Slave Lake and east of the Pine Point project, was initially developed after the Second World War. However, it was abandoned in 1952 due to the collapse of zinc and lead prices after the war. Slave Lake Zinc is confident in its abilities to progress this project and significantly enhance the historic potential of the property.

We seek Safe Harbor.