Mr. Peeyush Varshney reports

ZINCX RESOURCES RECEIVES PERMIT APPROVAL FOR THE AKIE PROPERTY

Zincx Resources Corp. has been advised by the Ministry of Energy, Mines and Low Carbon Innovation that the surface drilling permit for the Akie property has been renewed for an additional two-year period that now allows exploration activities to Dec. 31, 2028. The permit was set to expire on Dec. 31, 2026.

The drill permit covers a large exploration area of the 11,580-hectare Akie property, including all three key thrust panels that contain mapped occurrences of the highly prospective Gunsteel formation. The central thrust panel represents the primary target for exploration on the Akie property and is host to the premier Zn-Pb-Ag (zinc-lead-silver) Cardiac Creek deposit that has been progressively drilled by the company.

Zincx Resources is a Canadian exploration and development company creating value in the critical metals space -- with a focus on zinc - which has been designated as a critical mineral in both Canada and the United States. Similar to copper or lithium, zinc will be crucial for the ever-demanding and ever-increasing green economy (solar, wind and battery storage applications). It is already one of the most used metals in the world behind iron, aluminum and copper.

The recognition of zinc as a critical mineral has led to recent significant investments in the Canadian zinc junior space. Fireweed Metals' (TSX Venture Exchange: FWZ) Macmillan Pass project has attracted significant investment from the Lundin Group and Osisko Metals' (Toronto Stock Exchange: OM) Pine Point project has received a large investment from Appian Capital. These projects, along with Zincx's Akie project, are all at the preliminary economic assessment stage of development.

Peeyush Varshney, president and chief executive officer, commented: "We are pleased to have received our drill permit extension for the Akie property. The Akie project is one of the premier global zinc projects in a top-tier jurisdiction with a demonstrated high-grade, large-tonnage, minable-scale deposit with expansion potential and enormous district exploration prospectivity. The company remains extremely undervalued in comparison to its peer group, with tremendous potential to realize a much higher valuation."

The Akie Zn-Pb-Ag project

The 100-per-cent-owned Akie property is situated within the Kechika trough, the southernmost area of the regionally extensive Paleozoic Selwyn basin and one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

Since 2005, drilling on the Akie property by Zincx Resources has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel formation.

The company updated the estimate of mineral resources at Cardiac Creek in 2018 as shown in the attached table.

The company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA) 1 . The PEA envisages a conventional underground mine and concentrator operation with an average production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-of-mine (LOM) through resource expansion at depth. Key parameters for the PEA are as follows:

The base case used metal prices are calculated from the three-year trailing average coupled with two-year forward projection of the average price; and are: $1.21 (U.S.)/pound for zinc, $1.00 (U.S.)/lb for lead and $16.95 (U.S.) for silver. A Canadian/U.S.-dollar exchange rate of 0.77 was used. The NPV (net present value) discount rate is 7 per cent.

The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.

Kechika regional project

In addition to the Akie project, the company owns 100 per cent of eight of 11 large, contiguous property blocks that comprise the Kechika regional project including the advanced Mt. Alcock prospect. The remaining three contiguous blocks (Pie, Yuen and Cirque East) are owned 49 per cent by ZNX and 51 per cent by Cirque Operating Corp., which is a 50/50 joint venture between Teck Resources Ltd. and Korea Zinc Co. Ltd. Six additional blocks, which constitute the Kechika North project have been optioned to an arm's-length third party. All of these properties collectively extend northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika trough of northeastern British Columbia. The Kechika trough represents tremendous potential for additional discoveries. These properties are located approximately 260 kilometres north-northwest of the town of Mackenzie, B.C., Canada.

Mike Makarenko, PEng, JDS Energy and Mining, is the designated qualified person as defined by National Instrument 43-101 and is responsible for the PEA technical information contained in this release.