Nevada Zinc Achieves New Milestone with its Multiphase Pilot Plant Program to Produce Zinc Sulfate

Toronto, Ontario--(Newsfile Corp. - August 24, 2021) - Nevada Zinc Corporation (TSXV: NZN) ("Nevada Zinc" or the "Company") is pleased to provide an update on the ongoing progress with the multiphase pilot plant program to produce zinc sulfate monohydrate currently being conducted by Hazen Research, Inc. for the Company's Lone Mountain zinc project.

Hazen Research completed laboratory work to purify pregnant leach solution (PLS) recovered from acid leaching of zinc concentrate. Experiments were conducted to evaluate cementation and solvent extraction to remove impurities from the zinc bearing PLS.

Experiments demonstrated that greater than 99% of cadmium in the PLS was removed by cementation, reducing the cadmium concentration to less than 1 ppm. Solvent extraction contacts using di-(2-ethylhxyl) phosphoric acid (DEHPA) showed strong selectivity for zinc. Extraction of 98% of zinc was achieved in a single contact, while rejecting more than 90% of the impurities magnesium, calcium, and manganese.

Max Vichniakov, President and CEO of Nevada Zinc commented: "We are extremely pleased with yet another positive outcome from our bench-scale testing program. Heavy metals occur naturally in source materials used to manufacture fertilizers. Consequently, concentrations of these hazardous constituents in the resulting fertilizers and animal feed must be completely eliminated or decreased to an absolute minimum to meet industry standards. Our ability to reduce cadmium levels to less than 1ppm speaks volumes about our project and sets us on the path for a very clean, environmentally friendly, premium zinc sulfate product. Successful completion of the solvent extraction step with high zinc recoveries moves us to the final phase of our envisioned flowsheet. We are extremely pleased with the progress made to-date and anxiously await the results of the next phase".

Crystallization, which is the final phase of the bench-scale testing program to produce zinc sulfate monohydrate, has now commenced and is projected to be completed in Q3/21. The Company will provide updates as material results become 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 pit constrained, high-grade Inferred Mineral Resource Estimate of 3,257,000 tonnes at 7.57% Zn and 0.70% Pb (July, 2018), and filed a Preliminary Economic Assessment ("PEA") for the production of zinc concentrate (June, 2019). The PEA does not incorporate the potentially significant economic benefits of producing zinc sulfate products for the US agricultural and chemical sectors. In July of 2020, the Company entered into a Collaboration Agreement with Cameron Chemicals Inc., a leading U.S. producer and distributor of granular micronutrients to the agricultural, turf, and horticultural industries with manufacturing facilities in Washington, Virginia and Michigan. Under the terms of the Collaboration Agreement, Nevada Zinc and Cameron would work together to establish a range of zinc-based micronutrient products to be produced by the Company and marketed by Cameron through its distribution networks. In March 2021, Nevada Zinc commenced a multiphase pilot plant program to produce zinc sulfate to further de-risk and advance its highly prospective Lone Mountain zinc project.

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

The technical content and references related to tests and experiments conducted at Hazen Research in this press release have been reviewed and consented to by Hazen Research.

Qualified Person

Robert Johansing, M.Sc. Econ. Geol., P. Geo., who is an independent qualified person ("QP") as defined by NI 43-101 has reviewed and approved the technical content of this press release.

For further information please contact:

Nevada Zinc Corporation

82 Richmond St. East, First Floor
Toronto, Ontario M5C 1P1
Tel: 416-409-8441 Email: info@nevadazinc.com

Max Vichniakov, President, CEO and Director

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the results, timing and content of the work being performed by Hazen Research, Inc. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", and similar expressions. All such forward-looking statements are based on the opinions and estimates of management many of which are beyond Nevada Zinc's ability to control or predict. Known and unknown risks, uncertainties and other factors may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Risks include but are not limited to Nevada Zinc's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations, mineralogy, metallurgy, hydrometallurgy, envisioned production process risks, risks in how the world-wide economic and social impact of COVID-19 is managed and risks related to directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. Nevada Zinc does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For a complete discussion with respect to Nevada Zinc and risks associated with forward-looking information and forward-looking statements, please refer to Nevada Zinc's year end December 31, 2020 audited financial statements and MD&A which are filed on SEDAR at www.sedar.com.

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 accepts responsibility for the adequacy or accuracy of this news release.

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