Vancouver, Canada – July 24, 2017 - Zinc One Resources Inc. (“Zinc One or the Company”) is pleased to announce that it has achieved a major milestone by entering into a five-year surface access agreement (the “Surface Access Agreement”) with the Comunidad Campesina de Yambrasbamba (“CCY”) to permit surface access for exploration and development work on the Bongará Zinc-Oxide Mine and Charlotte Bongara Zinc-Oxide Project.
With the Surface Access Agreement signed, Zinc One will immediately commence the process of updating the environmental baseline study within the framework of the current Environmental Impact Assessment; this study is the key component of the drill-platform permit applications, which are planned to be filed during Q3. Zinc One is now in the process of starting the bid process for various services related to the upcoming drill campaign, which is expected to commence in August 2017.
“Reaching an agreement with the Yambrasbamba community is a major milestone for Zinc One and the Bongará Zinc-Oxide Mine Project. The Yambrasbamba community has previously seen the full gamut of mining – from exploration to construction to operations to remediation – which is extremely rare. They are very knowledgeable and not only understand the economic opportunities it will afford the CCY stakeholders, but have seen the overall minimal impact of mining and the benefits of remediation. We are grateful to have such a supportive community and, if the project moves ahead as we expect, then we see the building of the Bongará Zinc Oxide Mine Project as a win for the community, government and company shareholders,” commented James Walchuck, CEO of Zinc One.
Results of Annual General Meeting
Zinc One is also pleased to announce the results of Zinc One’s Annual General Meeting held on July 13, 2017.
Shareholders voted in favour of all items put forward by the Board of Directors. Shareholders set the number of directors at five and approved the appointment of James Walchuck, Dr. William C. Williams, W. Barry Girling, Greg Crowe and Gunther Roehlig to the Board of Directors.
Shareholders also approved the appointment of Zinc One’s auditors, Charlton & Co LLP, the Company’s rolling 10% stock option plan and the Company’s restricted share unit plan. The restricted share unit plan is subject to the acceptance of the TSX Venture Exchange.
Zinc One also announces that it has granted a total of 1,750,000 restricted share units to James Walchuck, its Chief Executive Officer and director. The grants are subject to the acceptance of the TSX Venture Exchange.
About Zinc One Resources Inc.
Zinc One is focused on the acquisition, exploration and development of prospective and advanced zinc projects in mining friendly jurisdictions. Zinc One’s key assets are the past producing Bongará Zinc-Oxide Project and Charlotte Bongará Zinc-Oxide Project in Peru. The Bongará Zinc-Oxide Project was in production from 2007 to 2008, but shut down due to the global financial crisis and concurrent decrease in the zinc price. Past production included zinc grades greater than 20%, all from at or near the surface, and recoveries over 90%; The neighboring Charlotte Bongará Zinc-Oxide Project has multiple near-surface, high-grade zinc-oxide drill intercepts providing numerous drill targets and exploration potential. Zinc One’s business plan is to restart production at the Bongará Zinc-Oxide Project with exploration of targets along a six kilometre strike as well as the Charlotte Bongará Zinc-Oxide Project. Zinc One is managed by a proven team of exploration geologists and engineers having previously constructed and operated successful mining operations.
The technical content of this news release has been reviewed and approved by Bill Williams, COO and Director of Zinc One, a qualified person as defined by National Instrument 43-101.
For more information, please visit the website at www.zincone.com or contact James Walchuck, CEO, President and director at (604) 683-0911 or email at [email protected]
ON BEHALF OF THE BOARD OF DIRECTORS OF
ZINC ONE RESOURCES INC.
CEO and President
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.