ZincX Resources Reports Voting Results from its Annual General Meeting
FOR IMMEDIATE RELEASE
Contact: Investor Relations Wednesday, December 18, 2024
Phone (604) 684-2181 (No.2024-12-05)
ZincX Resources Reports Voting Results from its Annual General Meeting
Vancouver, British Columbia, Canada – Wednesday, December 18, 2024 – ZincX Resources Corp.
(“ZincX” or the “Company”, TSX Venture Exchange: ZNX, FRA: A2JLRM ) announces the details of the
voting results from its Annual General Meeting, held on December 17, 2024 in Vancouver, BC.
By resolution passed via ballot, the five nominees referenced below were appointed as Directors of the
Company to serve until the next annual meeting of shareholders of the Company, or until their successors
are elected or appointed. The results of the ballot were as follows:
Name of Nominee Votes For Percent Votes Withheld Percent
Peeyush Varshney 52,233,520 99.96% 22,000 0.04%
Marco Strub 52,253,520 100.00% 2,000 0.00%
Praveen Varshney 52,233,520 99.96% 22,000 0.04%
John Thomas 52,253,520 100.00% 2,000 0.00%
Xinfu Hu 52,253,520 100.00% 2,000 0.00%
Shareholders also voted to approve the re-appointment of Davidson & Company LLP as auditors of the
Company.
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 world
for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources 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 1, 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)1.
The PEA envisages a conventional underground mine and 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:
Parameter Base Case1
Tonnes Mined 25.8 Mt
Mined Head Grades 7.6% Zn; 1.5% Pb; 13.08 g/t Ag
Tonnes Milled 19.7 Mt
Milled Head Grades (after DMS2 upgrade) 10.0% Zn; 1.9% Pb; 17.17 g/t Ag
Total Payable Metal (LOM) $3,960M3
Initial CAPEX $302.3M including $45.7M contingency
LOM Total CAPEX $617.9M including $58.5M contingency
All-in Total OPEX $102.4 per tonne milled
Pre-Tax NPV7% $649M
Pre-Tax IRR 35%
Pre-Tax Payback 2.6 years
After-Tax NPV7% $401M
After-Tax IRR 27%
After-Tax Payback 3.2 years
1. For details and QP statements, see technical report entitled “NI 43-101 Technical Report Akie Project British Columbia, Canada”
prepared by JDS Energy & Mining Inc. and filed on https://www.sedarplus.ca/ on August 2, 2028, and News Release dated August 2,
2018.
The base case used metal prices are calculated from the 3-year trailing average coupled with two year forward projection of the
average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was
used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.
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 reserves 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 including the advanced Mt. Alcock prospect. The remaining
three contiguous blocks (Pie, Yuen and Cirque East) are owned 49% by ZNX and 51% by Cirque
Operating Corporation which is a 50/50 joint venture between Teck and Korea Zinc Co., Ltd . Six
additional blocks which constitute the Kechika North project have been optioned to an arm’s length third
party. All of 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. The Kechika Trough
represents tremendous potential for additional discoveries. These properties are located approximately 260
kilometres north-northwest of the town of Mackenzie, British Columbia, Canada.
Zinc (Zn)
Zinc is one of many critical metals facilitating the transition to a low-carbon and greener future and is used
in renewable energy storage systems and through the protection of steel to improve its durability and
service life in solar and wind turbine applications. The primary uses of zinc are the galvanization of steel
protecting against corrosion due to weather conditions, the production of brass and bronze, and in die-
casting to produce a wide range of metal products. In agriculture, zinc can also increase crop yields and
crop quality and is an essential nutrient in human development and disease prevention.
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 responsible 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