ZincX Resources Closes Private Placement with Ross Beaty

VANCOUVER, BC / ACCESSWIRE / July 6, 2023 / ZincX Resources Corp. ("ZincX" or the "Company"), (TSXV:ZNX)(OTCQB:ZNCXF)(FRA:M9R) is pleased to announce that the Company has closed its non-brokered private placement of 10,000,000 common shares of the Company at a price of $0.10 per share to raise gross proceeds of $1,000,000.

Peeyush Varshney, Chief Executive Officer of ZincX, commented, "We are pleased to welcome well known mining entrepreneur Ross Beaty as a new significant shareholder of the Company."

The Company intends to use the proceeds from the private placement to continue to advance the Company's Akie and Kechika Regional projects in British Columbia and for working capital purposes.

All securities issued will be subject to a four-month hold period expiring on November 7, 2023.

The private placement remains subject to the final approval of the TSX Venture Exchange.

The Akie Zn-Pb-Ag Project

The 100% 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.

Drilling on the Akie property by ZincX Resources since 2005 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 follows:

5% Zinc Cut-Off Grade					Contained Metal:
Category	Tonnes (million)	Zn (%)	Pb (%)	Ag (g/t)	Zn (B lbs)	Pb (B lbs)	Ag (M oz)
Indicated	22.7	8.32	1.61