Vancouver, British Columbia, Canada – Thursday, August 14, 2025 – ZincX Resources Corp. (“ZincX” or the “Company”, TSX Venture Exchange: ZNX, FRA: A2JLRM) is pleased to announce that, further to the Company's news release dated July 21, 2025, Mr. Chen Bangguo, Assistant General Manager of Tongling Nonferrous Metals Group Holdings Co. Ltd., has been appointed to the board of directors. He will sit as an independent director. Mr. Chen Bangguo replaces Mr. Xinfu Hu, who has resigned as a director of ZincX and has retired from his position at Tongling.
Mr. Chen Bangguo is currently Assistant General Manager of Tongling and is a senior geological engineer with over 33 years of experience in the mining sector, especially in the Dongguashan Copper Mine and Shaxi Copper Mine located in Anhui, China. He obtained a bachelor of geology degree from the Kunming University of Science and Technology in 1992.
Mr. Chen Bangguo is in charge of acquisitions and exploitation of mineral resources both in domestic China and abroad.
Tongling, based in Tongling, Anhui, is a state-owned holding company, and one of China's largest copper smelting companies. Tongling's principal activities are exploration, mining, ore processing, smelting and refining, and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals.
Peeyush Varshney, Chief Executive Officer of the Company, stated: "We welcome Chen Bangguo to our board and greatly value his wealth of exploration and production experience across multiple facets in the base metal mining sector. This appointment is in keeping with our continuing efforts to advance the significant value and merit of the Cardiac Creek deposit and to recognize the interest of one of the world's premier base metal companies. Chen Bangguo and his technical team are thoroughly familiar with the progress to date on the Akie property and recognize the inherent value of the Company's significant prospective land package and the potential long-term district development opportunity. We look forward to continuing to build our relationship with Chen Bangguo and Tongling."
The appointment is subject to the necessary approvals of the relevant Chinese regulatory departments and the TSX Venture Exchange.
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.
Since 2005, drilling on the Akie property by ZincX Resources 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 20181, 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 |
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 Resources Limited 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.
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
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ZincX Resources Corp.
Suite 2050 - 1055 West Georgia Street
PO Box 11121, Royal Centre
Vancouver, BC V6E 3P3
Canada
[email protected]