ZincX Resources to Hold Annual General Meeting on December 7, 2023

VANCOUVER, BC / ACCESSWIRE / November 30, 2023 / ZincX Resources Corp. ("ZincX Resources" or the "Company"), (TSX Venture Exchange:ZNX)(OTCQB:ZNCXF)(FRA:M9R) announces that the Annual General Meeting of its shareholders (the "AGM") will be held in person on Thursday, December 7, 2023 at Suite 2050 - 1055 West Georgia Street, Vancouver, BC, V6E 3P3. The AGM is scheduled to begin at 10:00 AM PST.

Shareholders of ZincX Resources will be asked to vote on the following items:

• To appoint auditors for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditors;
• To fix the number of directors for the ensuing year at five and to elect directors for the ensuing year; and
• To transact such further and other business as may be properly brought before the Meeting and any adjournment or postponement thereof.

ZincX Resources Corp. (TSXV:ZNX)(FRA:M9R) is a Canadian exploration and development company creating value in the critical metals space - with a focus on zinc. Zinc is a versatile and essential material for the energy transition to a lower-carbon economy. It is already one of the most used metals in the world behind iron, aluminum and copper but also has applications in energy storage. It also plays a vital role in enabling other clean energy technologies like solar and wind.

ZincX Resources is well-positioned to take advantage of the worldwide looming shortfall in zinc production with the development of its Cardiac Creek (Akie property) deposit - which can help Canada meet its need for the critical mineral zinc and the global push towards decarbonization to combat climate change.

Separately, ZincX Resources intends to voluntarily terminate its listing services on the OTCQB Venture Market (OTCQB) trading platform. The Company has made this decision after considering a number of factors including the associated listing fee expenses necessary to continue with the OTCQB listing.

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 2018¹, 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	14.1	4.162	0.804	10.3
Inferred	7.5	7.04	1.24	12.0	1.169	0.205	2.9

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:

Parameter	Base Case1
Tonnes Mined	25.8 Mt
Mined Head Grades	7.6% Zn; 1.5% Pb; 13.08 g/t Ag
Tonnes Milled	19.7 Mt
Milled Head Grades (after DMS2 upgrade)	10.0% Zn; 1.9% Pb; 17.17 g/t Ag
Total Payable Metal (LOM)	$3,960M3
Initial CAPEX	$302.3M including $45.7M contingency
LOM Total CAPEX	$617.9M including $58.5M contingency
All-in Total OPEX	$102.4 per tonne milled
Pre-Tax NPV7%	$649M
Pre-Tax IRR	35%
Pre-Tax Payback	2.6 years
After-Tax NPV7%	$401M
After-Tax IRR	27%
After-Tax Payback	3.2 years

1. For details and QP statements, see technical report entitled "NI 43-101 Technical Report Akie Project British Columbia, Canada" prepared by JDS Energy & Mining Inc. and filed on https://www.sedarplus.ca/ on August 2, 2028, and News Release dated August 2, 2018.

The base case used metal prices are calculated from the 3-year trailing average coupled with two year forward projection of the average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.

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.

Zinc (Zn)

Zinc is one of many critical metals facilitating the transition to a low-carbon and greener future and is used in renewable energy storage systems and through the protection of steel to improve its durability and service life in solar and wind turbine applications. The primary uses of zinc are the galvanization of steel protecting against corrosion due to weather conditions, the production of brass and bronze, and in die-casting to produce a wide range of metal products. In agriculture, zinc can also increase crop yields and crop quality and is an essential nutrient in human development and disease prevention.

Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release. Mike Makarenko P.Eng, 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.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

ZINCX RESOURCES CORP.

"PEEYUSH VARSHNEY"

Peeyush Varshney, LL.B

CEO & CHAIRMAN

Contact:

Investor Relations

Phone [phone]

[e-mail]

SOURCE: ZincX Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/811884/zincx-resources-to-hold-annual-gener ...


The Zincx Resources Stock at the time of publication of the news with a raise of 0,00 % to 0,065EUR on TSX Venture stock exchange (29. November 2023, 22:00 Uhr).