ZincX Resources Closes Non-Brokered Flow-Through Private Placement
FOR IMMEDIATE RELEASE
Contact: Investor Relations Wednesday, November 14, 2018
Phone (604) 684-2181 (No.2018-11-19)
ZincX Resources Closes Non-Brokered Flow-Through Private Placement
Vancouver, British Columbia, Canada – Wednesday, No vember 14, 2018 – ZincX Resources Corp.
(“ZincX Resources” or “the Company”, TSX Venture Exchange: ZNX) is pleased to announce that the
Company has received final TSX Venture Exchange acc eptance for its non-brokered private placement of
3,120,692 flow-through common shares of the Company at a price of $0.39 per flow-through common share
to raise gross proceeds of $1,217,069.
Peeyush Varshney, Chief Executive Officer of ZincX Resources, commented, “We are pleased to have
received the lead order on the financing from certain affiliates of the Sprott Group of Companies.”
The Company intends to use the proceeds from the sa le of the flow through shares to finance exploratio n
of the Company’s Akie and Kechika Reginal projects in British Columbia.
The Company paid $63,896.17 as finder’s fees.
All securities issued will be subject to a four-month hold period, expiring March 15, 2019.
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the
regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the wor ld
for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources (f ormerly Canada Zinc Metals Corp) since 2005 has
identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit.
The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian
Gunsteel Formation.
The Company updated the estimate of mineral resources at Cardiac Creek in 2018, as follows:
5% Zinc Cut-Off Grade Contained Metal:
Category Tonnes
(million) Zn (%) Pb (%) Ag (g/t) Zn (B lbs) Pb (B lbs) Ag (M
oz)
Indicated 22.7 8.32 1.61 14.1 4.162 0.804 10.3
Inferred 7.5 7.04 1.24 12.0 1.169 0.205 2.9
The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA).
The PEA envisages a conventional underground mine a nd concentrator operation with an average
production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-
of-mine (LOM) through resource expansion at depth. Key parameters for the PEA are as follows:
Pre-Tax After-Tax
NPV 7% IRR NPV 7% IRR
$649M 35% $401M 27%
The base case parameters for the PEA used US$1.21/lb Zinc, US$1.00/lb Lead, and US$16.50/oz Silver
See ZNX news releases from June 20 th , 2018 for important disclosures with respect to the Cardiac Creek PEA.
The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered
too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral
reserves. Mineral resources that are not mineral re serves have not yet demonstrated economic viability. Due to the uncertainty that
may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral
reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.
Kechika Regional Project
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks
that comprise the Kechika Regional Project includin g the advanced Mt. Alcock prospect. The Kechika
Regional Project also includes the Pie, Yuen and Ci rque East properties within which the Company
maintains a significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc
Co. Ltd holding 51%. These properties collectively extend northwest from the Akie property for
approximately 140 kilometres covering the highly prospective Gunsteel Formation shale; the main host rock
for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These
projects are located approximately 260 kilometres n orth northwest of the town of Mackenzie, British
Columbia, Canada.
Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person
as defined by National Instrument 43-101 and is res ponsible for the technical information contained in this
release. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by
National Instrument 43-101 and is responsible for the PEA technical information contained in this release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
ZINCX RESOURCES CORP.
“PEEYUSH VARSHNEY”
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN