Scozinc Provides a Corporate Update
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SCOZINC PROVIDES A CORPORATE UPDATE
Halifax, Nova Scotia, September 4, 2020 – ScoZinc Mining Ltd. ( TSX-V: SZM) (“ScoZinc” or the “ Company”) is
pleased to provide the below corporate updates to its shareholders on a range of matters.
The President and CEO, Mr. Mark Haywood, commented: “Since the completion of our positive Pre-Feasibility Study on
the Scotia Mine, which demonstrates compelling economics with Pre-Tax NPV of C$156M and an IRR of 52%, coupled
with a Life of Mine industry leading low all -in-sustaining cash cost of US$0.60/lb, our teams are continuing to advance
the mine’s production readiness by completing a number of important project aspects and commencing the engagement
process with our various stakeholders.”
Corporate Updates:
• A Pre-Feasibility Study (“PFS”) was completed and the National Instrument 43 -101 Technical Report was filed on
SEDAR on July 29, 2020. The PFS indicated that the Scotia Mine has the potential to be low capex, have a long-mine
life with strong annual returns, and achieve commercial production within 9 to 12 months of financing.
• The Company is in active discussions with various capital providers and is aggressively pursuing the project finance
required to commence commercial production at the Scotia Mine.
• ScoZinc’s Annual General Meeting (“AGM”) of shareholders has been scheduled for October 9, 2020 at the Scotia
Mine in Nova Scotia, Canada. Further details of the AGM will be provided in the management information circular
to be distributed to shareholders eligible to participate at the AGM.
• Pursuant to the Company’s restricted stock unit incentive plan, the Board of Directors granted an aggregate of 123,456
restricted stock units (“RSUs”) in the Company to Mr. Mark Haywood. The RSUs will vest on August 20, 2021.
• The Company has filed on SEDAR its quarterly financial statements for the period ending June 30, 2020 and
management's discussion and analysis thereof.
About ScoZinc Mining Ltd.
ScoZinc is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities
near Halifax, Nova Scotia. ScoZinc also holds several prospective exploration licenses nearby its Scotia Mine and in
surrounding regions of Nova Scotia.
The Company’s common shares are traded on the TSX Venture Exchange under the symbol “SZM”.
For more information, please contact:
Mark Haywood President & Chief Executive Officer
Robert Suttie Chief Financial Officer
Simion Candrea VP Investor Relations
Head Office Purdy’s Wharf, 1959 Upper Water Street, Suite 1301, Nova Scotia, B3J 3N2, Canada
Telephone +1 (902) 482 4481
NEWS RELEASE SEPTEMBER 4, 2020
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Facsimile
+1 (902) 422 2388
Email & Web
info
@
ScoZinc.com &
www.Sc
oZinc.com
The Company’s corporate filings and technical reports can be viewed on the Company’s SEDAR profile at
www.sedar.com
.
Further information on ScoZinc is also available on
Facebook at
www.facebook.com/ScoZinc,
at
www.twitter.com/ScoZincMining
,
and LinkedIn at
www.linkedin.com/company/scozinc
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mining
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ltd.
CAUTIONARY STATEMENTS
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
news
release.
This
n
ews
r
elease 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 c
onditions, 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, potential mineralization, exploration and development results, the estimation of mineral resources,
exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions.
There can be no assurance that forward
-
looking statements will prove to be accurate and actual results and future events
could differ materially from those an
ticipated in such statements.
Important factors that could cause actual results to differ
materially from ScoZinc’s expectations include, among others, the degree to which mineral resource and reserve estimates
are reflective of actual mineral resources an
d reserves, the degree to which factors which would make a mineral deposit
commercially viable are present, the price of zinc and lead, uncertainties relating to availability and costs of financing ne
eded
in the future, changes in equity markets, risks rel
ated to international operations, the actual results of current exploration
activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as
plans continue to be refined as well as future prices of
metals, ability to predict or counteract potential impact of COVID
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19 coronavirus on factors relevant to the Company’s business, as well as those factors discussed in the section entitled “Ris
k
Factors” in ScoZinc’s management’s discussion and analysis
of
the Company's financial statements for the period ended
June 30, 3030
. Although ScoZinc has attempted to identify important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as anticipate
d, estimated or intended. There can be no
assurance that such statements will prove to be accurate as actual results and future events could differ materially from tho
se
anticipated in such statements. Accordingly, readers should not place undue reliance o
n forward
-
looking statements.
Not for Distribution in the United States