Slave Lake Zinc Extends “Shaft Zone” Border to Border

October 22, 2019 Trading Symbol - CSE: SLZ

Slave Lake Zinc Extends “Shaft Zone” Border to Border

Slave Lake Zinc Ltd (“the Company”) has compiled results of exploration conducted at the

O’Connor Lake project. The O’Connor Lake property hosts zinc -lead-silver mineralization

contained in an extensive vein fault system of hydrothermal origin.

Slave Lake Zinc has conducted programs of prospecting and cut grid controlled geophysical

surveying to date. The Company has now identified a mineralized corridor e xtending over an

additional 700 meters south east from the Shaft Zone. This continuous zone has now been traced

for a length of 1100 meters. The extension has been traced by co -incident Magnetic and EM

geophysical anomalies along a structure interpreted fr om a study of air photos. Samples taken

by the company from trenches 500 - 600 meters along the trend from the shaft zone returned

assays of 20% plus combined zinc plus lead. These results are consistent with Shaft Zone results

which had been released earli er. The mineralized corridor remains open to extension along

strike. A compilation plan of these results is available on the company’s web site: ( Click Here for

Geophysics Map and Click here for Grid Map)

The property hosts historic workings including a headframe and underground drift ing known as

the “Shaft Zone”. This zone has been traced by pits and diamond drilling for a length of over 400

meters. The “Shaft Zone” is open at depth with the deepest historic drilling intersecting

mineralization down to 200 metres, the deepest known historic drilling. Samples from pits along

the zone and the Shaft dump returned assays ranging from 10 to 27% zinc plus lead.

The property lies 60 miles (95 Km) kilometers east of Fort Resolution NWT on the south shore of

Great Slave Lake; and 45 miles (72 Km) north of the hydro-electric generating station at Taltson

River gorge. Fort Resolution, a community of First Nations and Metis peoples represented by the

Deninu Kue First Nation, as well as the Northwest Territories Metis Nation, is accessible by a year-

round government-maintained highway. The O’Connor Lake property is currently accessed by

charter aircraft available from Yellowknife and Fort Smith. A presently unused winter “ice road”

connects the property with Fort Resolution.

Slave Lake Zinc CEO Mr. Ritch Wigham commented “The Company is pleased to report results

from our initial exploration at O’Connor Lake. The Company’s field program was ably assisted by

personnel from the Fort Resolution community. The mineralized structure we have identified

extends from border to border across our present property.”

On behalf of the Board of Directors

Ritch Wigham, CEO

Phone: 604-396-5762

Email: [email protected]

The contents of this News Release have been approved by Glen Macdonald P.Geo, a “Qualified Person”

as defined by NI 43-101

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or

accepted responsibility for the adequacy or accuracy of the content of this news release

Forward Looking Statement

Statements in this news release that are forward -looking statements are subject to various risks and

uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake Zinc’s periodic

filings with Canadian securities regulators. When used in this news release, words such as "will", "plan",

"estimate", "expect", "intend", "potential", "should," and similar expressions, are forward -looking

statements. Information provided in this document is necessarily summarized and may not contain all

available material information. Forward -looking statements include, without limitation, statements

regarding the progress of a definitive offtake agreement, potential de velopment and production at the

Company’s O’Connor lake project, future oriented events and other statements that are not facts. Forward-

looking statements are based on a few assumptions and estimates that, while considered reasonable by

management based on the business and markets in which Slave Lake Zinc operates, are inherently subject

to significant operational, economic and competitive uncertainties and contingencies. Such forward -

looking statements should therefore be construed in light of such factor s. Although Slave Lake Zinc has

attempted to identify important factors that could cause actual results, performance or achievements to

differ materially from those contained in the forward-looking statements, there can be other factors that

cause results, performance or achievements not to be as anticipated, estimated or intended. There can be

no assurance that such information will prove to be accurate or that management's expectations or

estimates of future developments, circumstances or results will mat erialize. Accordingly, readers should

not place undue reliance on forward -looking statements. The forward -looking statements in this news

release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention or

obligation to update or revise such information, except as required by applicable law, and Slave Lake Zinc

does not assume any liability for disclosure relating to any other company herein.