Nevada Zinc announces private placement financing of up to $ 850,000

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Toronto, Ontario – (Newsfile Corp. – December 20, 2021) – Nevada Zinc Corporation(TSXV: NZN)(“Nevada Zinc” or the “Society”)is pleased to announce that it expects to raise up to $ 850,000 in a non-brokered private placement financing (the “Funding”).

The Funding will consist of the issuance of a maximum of 11,333,333 units (“Units“) at a price of $ 0.075 per Unit. Each Unit will consist of one (1) Common Share (“Ordinary share“) and one-half (1/2) of a common share purchase warrant, two half warrants equivalent to a whole warrant (“To guarantee“), and with each entire warrant exercisable for one common share at an exercise price of $ 0.14 for a period of eighteen (18) months from the date of issue. The Company may elect to advance the expiration date of the warrants in the event that the closing price of the common shares on the TSX Venture Exchange is equal to or greater than $ 0.28 for ten (10) consecutive trading days, on which in such case the warrants will expire sixty (60) days after the date on which the Company provides written notice of acceleration.

The net proceeds from the financing will be used by the Company to finance the completion of its multi-phase zinc sulphate pilot plant program, the licensing of the Company’s Lone Mountain zinc deposit, as well as general purposes. business and working capital. The financing is subject to an over-allotment option allowing Nevada Zinc to raise an additional $ 250,000 under the same conditions.

Common shares issued in connection with the financing will be subject to a legal hold period of four months plus one day from the date of issue. The Company may pay finder’s fees to eligible finders.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities law and may not be offered or sold in the United States or to US Persons (as defined in the 1933 Act) unless it is registered under the 1933 Act and applicable state securities laws, or a exemption from such registration is available.

About Nevada Zinc

The Company is focused on its wholly owned Lone Mountain zinc project in central Nevada, where it has been working since 2014 on a high grade zinc carbonate oxide deposit. To date, the Company has completed a restricted high-grade inferred mineral resource estimate of 3,257,000 tonnes grading 7.57% Zn and 0.70% Pb (July 2018) and has filed an economic assessment. Preliminary (“EEP”) for the production of zinc concentrate (June 2019). PEA does not incorporate the potentially significant economic benefits of producing zinc sulfate products as a source of zinc in crop and feed fertilizers for the agricultural and chemical industries in the United States. This initiative is at the center of Nevada Zinc’s ongoing multiphase pilot plant program. In July 2020, the Company entered into a collaboration agreement with Cameron Chemicals Inc., one of the leading US producers and distributors of granulated micronutrients for the agriculture, turf and horticultural industries with manufacturing facilities in Washington, Virginia and in Michigan. Under the terms of the collaboration agreement, Nevada Zinc and Cameron will work together to establish a line of zinc-based micronutrient products to be produced by the Company and marketed by Cameron through its distribution channels. In March 2021, Nevada Zinc launched a multi-phase pilot plant program for the production of zinc sulfate and to further reduce risk and advance the Company’s very promising Lone Mountain zinc project. In September 2021, in accordance with the pilot plant program, the Company successfully produced a laboratory-scale high-quality zinc sulfate monohydrate sample (please refer to the Company’s press release dated September 20, 2021 ).

Additional information on the Company is available on the Company’s website: www.nevadazinc.com

For more information, please contact:

Nevada Zinc Company

82 Richmond Street East, first floor
Toronto, Ontario M5C 1P1
Phone. : 416-409-8441 Email: [email protected]

Max Vishniakov, President, CEO and Director

Caution regarding forward-looking statements

This press release may contain forward-looking statements, including, but not limited to, comments regarding the timing and content of upcoming test work and pilot plant programs, geological interpretations, receipt of title deeds, receipt of regulatory approvals and permits, the success of ongoing programs, potential mineral recovery processes, potential economic outcomes, etc. Forward-looking statements are statements which are not historical fact and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not expect” not anticipate “,” estimate “,” consider “,” estimate “,” projects “,” potential “,” planned “,” forecast “,” budget “and similar expressions, or that events or conditions” will “, “would”, “could”, “could”, “should” or “could” occur. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to variety assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating prices for raw materials and zinc chemicals, the changing regulatory landscape in the United States. United and abroad, the efficiency and feasibility of technologies that have not yet been tested or proven on a commercial scale, the competitive risks and the availability of funding, as more fully described in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in forward-looking statements and we caution against placing undue reliance on them. We assume no obligation to revise or update these forward-looking statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this release. hurry.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108160

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