Nevada Zinc Announces Collaboration Agreement With Strategic Partner in U.S. Agricultural Industry

TORONTO, July 13, 2020 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is very pleased to announce that it has entered into a Collaboration Agreement (the “Agreement”) with Cameron Chemicals, Inc. (“Cameron”). Cameron is a leading U.S. producer and distributor of granular micronutrients for the agricultural, turf, and horticultural industries with manufacturing facilities in the states of Virginia, Michigan and Washington. Zinc is an essential micronutrient in these sectors and has a growing demand profile in the U.S. as well as globally. The Company’s Nevada based Lone Mountain zinc oxide deposit is strategically located adjacent to California’s $50 billion agricultural industry.

Under the terms of the Agreement, Nevada Zinc and Cameron will work together to establish a range of zinc based micronutrient products to be produced by the Company and marketed by Cameron.  Distribution networks in the U.S., Canada, Southeast Asia, Korea and South America have been developed by Cameron over the past three decades.  At this time, subject to completing production process evaluation studies, Nevada Zinc’s annual production is projected to be up to 25,000 tonnes of zinc based micronutrient products. Based upon this annual production rate, Lone Mountain’s life of mine will be in the range of fifteen to twenty years based upon the Company’s current resource estimate. The Lone Mountain property has only been partially explored to-date and has good potential to increase in size subject to further exploration programs to be undertaken by the Company.

During the remainder of 2020, Nevada Zinc will complete a project evaluation study which will include studies relating to the mining and production processes that will best suit the project. The Company will also commence environmental and permitting studies as well as the submission of permit applications. Affirmative results from this project evaluation work will allow Nevada Zinc to make a positive project construction decision at the end of the permitting process.  There is no assurance currently that the existing mineral resource may be processed on a technical or economic basis.