Nevada Zinc Announces Management Change

TORONTO, April 26, 2022 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is very pleased to announce the appointment of Igor Danyliuk as President and CEO of the Company effective June 1, 2022. Mr. Danyliuk is currently a director of Nevada Zinc and will retain his seat on the Board of Directors. He is replacing Max Vichniakov who has also stepped down as a member of the Company’s Board of Directors.

Mr. Danyliuk brings over 30 years of capital markets experience having worked in Canada and the US as an investment banker, a top ranked equity research analyst, and most recently as Head of Research for one of Canada's major banks. He also has engineering experience having worked in the US as a technical service engineer for a major US resin manufacturer. Mr. Danyliuk holds an MBA from Harvard Business School and a BASc (Engineering Science) and MASc (Chemical Engineering and Applied Chemistry) from The University of Toronto.

In connection with his appointment, Mr. Danyliuk commented: “I am excited to assume this role and work together with our team and Board of Directors. My primary focus at this time is the completion of the final stage of our multiphase pilot program being conducted by Hazen Research Inc. This work is designed to produce commercial grade zinc sulfate and to provide us with operating and capital costs for the production process. I want to thank Max for his contributions to Nevada Zinc and wish him all the best in his future endeavours.”

The Company is also pleased to announce that Michael Wilson has agreed to join Nevada Zinc as a technical advisor. Mr. Wilson was President and CEO of Behre Dolbear Canada Ltd. and has over 40 years of experience in the fields of geology, mineralogy and mining engineering of surface and underground mines. Mr. Wilson has been responsible for the design, planning and cost determination of mining operations in multiple jurisdictions involving a variety of mineral commodities and will be instrumental in assisting in the advancement of the Company’s zinc sulfate initiative. Mr. Wilson holds degrees in geology from the University of Western Ontario and mining engineering from McGill University.

“The Board is extremely pleased to have Igor and Mike accept their new roles with the Company at this time. Upon successful completion of our pilot plant program, Nevada Zinc will require an experienced management team, which we are building now with the addition of Igor and Mike, to move us forward to the production of zinc sulfate to be used in the US agricultural sector”, commented Don Christie, Nevada Zinc's CFO and Director.

About Nevada Zinc

Nevada Zinc is an exploration and development company focused on its wholly-owned Lone Mountain zinc project in central Nevada, with the strategic objective of producing zinc-based products including fertilizers, animal feed and chemicals. In July 2020, the Company entered into a Collaboration Agreement with Cameron Chemicals Inc. (“Cameron”), a leading US 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 fertilizers 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 with Hazen Research Inc. (“Hazen”) of Golden, Colorado, to produce zinc sulfate monohydrate and further de-risk and advance the Company’s Lone Mountain high-grade zinc carbonate-oxide deposit. In September 2021, the Company announced that Hazen had been successful in the production of a bench scale high-grade zinc sulfate monohydrate. In March 2022, after completion of the Company’s latest financing, Hazen began a bulk operation to produce approximately 150 lbs. of a commercial grade zinc sulfate monohydrate product to be followed by a cost analysis of the process flowsheet’s operating and capital costs. This final stage of the Company’s multiphase pilot plant program is projected to be completed in the second half of 2022.

Nevada Zinc Corporation

82 Richmond St. East, First Floor
Toronto, Ontario M5C 1P1
Tel: 416-409-8441

Don Christie, CFO & Director

don@nevadazinc.com

Cautionary Statement

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.