Zincore Metals Announces Results of AGM, Adoption of New 10% Rolling Option Plan and Appointment of New Chief Financial Officer

ZINCORE METALS INC.

#1201 – 1166 Alberni Street Vancouver, British Columbia V6E 3Z3

NEWS RELEASE

ZINCORE METALS ANNOUNCES RESULTS OF AGM, ADOPTION OF NEW 10% ROLLING OPTION PLAN AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Vancouver, BC, July 14, 2022 – Zincore Metals Inc. (the “Company”) (NEX:ZNC.H) is pleased to announce the results of its annual general meeting of shareholders (the “Meeting”) held on July 14, 2022 in Vancouver, British Columbia. All resolutions proposed at the Meeting were duly passed.

The resolutions at the Meeting consisted of the following: (1) election of all director nominees listed in the management information circular dated June 9, 2022, to the board of directors of the Company, being Jorge Benavides, Matthew Roma, Ramon Perez and Adam Ho; (2) appointment of Saturna Group Chartered Accounts LLP as auditor of the Company for the ensuing year and authorization of the directors to fix its remuneration; and (3) approval of a new form of 10% rolling stock option plan dated for reference July 14, 2022 (the “New Option Plan”).

The New Option Plan allows the board of directors to grant such number of stock options of the Company up to 10% of the issued and outstanding common shares of the Company at the time of grant. The Company adopted the New Option Plan in order to comply with recent amendments made to the TSX Venture Exchange (the “TSXV”) policy governing security based compensation and include, among other things:

• specific restrictions with respect to adjustments to security based compensation. Any adjustment to stock options granted (except in relation to a consolidation or share split) is subject to the prior acceptance of the TSXV;

 Investor Relations Service Providers may not receive any security based compensation other than stock options; and

• allowing for option holders to exercise options on a “Cashless Exercise” or “Net Exercise” basis.

The Company has 688,000 stock options currently outstanding under the New Option Plan and 1,222,633 stock options remain available for grant. All options granted under the Company’s previous option plan are now subject to the New Option Plan without any action required on the part of the option holders.

A copy of the New Option Plan was attached to the Circular, a copy of which was filed on SEDAR on June 21, 2022.

In addition, the Company reports that Adam Ho has tendered his resignation from the Company’s role of Chief Financial Officer while maintaining his position as a director on the Board of Directors. Concurrently, the Company also announces that it has appointed Maggie Wong as the new Chief Financial Officer and Corporate Secretary.

Zincore President and CEO, Jorge Benavides commented, “Adam has been instrumental in helping Zincore navigate the past several difficult years. We will miss his counsel and wish him great success in all his future endeavours”.

Mr. Benavides concluded, “Although we will miss Adam’s input, we are very glad to have Maggie join us as Chief Financial Officer. Her significant finance and accounting experience will benefit the Company significantly as we seek to move forward”.

Miss Maggie Wong is currently the Director of Finance of Samina Capital Ltd, a public company management firm. Prior to joining Samina Capital Ltd., Miss Wong was Project Cost Analyst of Secure Energy for 14 years, a public company specializing in waste management, project & environmental Services, and landfills. During her tenure at Secure Energy, she was responsible to oversee and financially manage all soil remediation projects, demolition projects, water technology projects and soil facilities for entire BC region, with duties including but not limited to internal and external reporting, budget management, change order management and analysis, and financial control.

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About Zincore

Zincore is a Vancouver-based Company, with common shares which trade on the NEX Board of the TSX Venture Exchange under the symbol ZNC.H.

ON BEHALF OF THE BOARD OF DIRECTORS

“Adam Ho”

Adam Ho Chief Financial Officer and Director

For further information, please contact:

Zincore Metals Inc.

Adam Ho, Director (604) 669-6611 [email protected]

Neither the 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.

Cautionary Note Regarding Forward Looking Statements

This news release contains certain forward-looking statements, Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.