ZincX Resources Reports Voting Results from its Annual General Meeting

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ZincX Resources Corp. (ZNX) announced the results of the voting from its Annual General Meeting, appointment of Directors, and details of the Akie Zn-Pb-Ag Project and Kechika Regional Project.

VANCOUVER, BC / ACCESSWIRE / December 14, 2023 / ZincX Resources Corp. ("ZincX" or the "Company"), (TSX Venture Exchange:ZNX)(FRA:A2JLRM ) announces the details of the voting results from its Annual General Meeting, held on December 7, 2023 in Vancouver, BC.

By resolution passed via ballot, the five nominees referenced below were appointed as Directors of the Company to serve until the next annual meeting of shareholders of the Company, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee		Votes For		Percent		Votes Withheld		Percent
Peeyush Varshney		66,279,769		99.68%		212,251		0.32%
Marco Strub		66,482,019		99.98%		10,001		0.02%
Praveen Varshney		66,259,769		99.65%		232,251		0.35%
John Thomas		66,492,019		100.00%		1		0.00%
Xinfu Hu		66,482,019		99.98%		10,001		0.02%

Shareholders also voted to approve the re-appointment of Davidson & Company LLP as auditors of the Company.

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	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). 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
q	$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. 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.

Kechika Regional Project

In addition to the Akie Project, the Company owns 100% of eight of eleven 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% by ZNX and 51% by Cirque Operating Corporation which is a 50/50 joint venture between Teck Resources Limited (TSX: TECK.A and TECK.B; NYSE: TECK) 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, British Columbia, Canada.

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 (604) 684-2181
info@zincxresources.com

SOURCE: ZincX Resources Corp.

View the original press release on accesswire.com

FAQ

When was the Annual General Meeting held by ZincX Resources Corp. (ZNX)?

The Annual General Meeting was held on December 7, 2023 in Vancouver, BC.

What are the details of the voting results from the Annual General Meeting of ZincX Resources Corp. (ZNX)?

The voting results appointed five nominees as Directors of the Company. The details of the votes for each nominee are provided in the press release.

What is the Akie Zn-Pb-Ag Project by ZincX Resources Corp. (ZNX)?

The Akie property is a 100% owned project situated within the Kechika Trough, known for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

What are the details of the mineral resources at Cardiac Creek in the Akie Zn-Pb-Ag Project by ZincX Resources Corp. (ZNX)?

The mineral resources at Cardiac Creek include indicated and inferred categories with detailed tonnage, grades, and contained metal.

What are the key parameters for the Preliminary Economic Assessment (PEA) of the Akie Zn-Pb-Ag Project by ZincX Resources Corp. (ZNX)?

The PEA includes details of tonnes mined, head grades, total payable metal, CAPEX, OPEX, NPV, IRR, and payback period.

What is the Kechika Regional Project by ZincX Resources Corp. (ZNX)?

The Kechika Regional Project includes the Akie Project and other contiguous property blocks, representing potential for additional discoveries in the Kechika Trough.

Who is the designated Qualified Person for the technical information in the press release by ZincX Resources Corp. (ZNX)?

Ken MacDonald P.Geo., Vice President of Exploration for the Company, and Mike Makarenko P.Eng, JDS Energy and Mining, are the designated Qualified Persons for the technical information.

What is the contact information for Investor Relations at ZincX Resources Corp. (ZNX)?

Investor Relations can be contacted at (604) 684-2181 or info@zincxresources.com.

What is the source of the original press release by ZincX Resources Corp. (ZNX)?

The original press release can be viewed on accesswire.com.