Slave Lake Zinc mobilizes field crew to O'Connor Lake

Executive Summary

• Slave Lake Zinc mobilized a field crew to its O'Connor Lake property to validate historic mineralized targets using modern remote‑sensing and GPS techniques.
• The company settled recent insider loans by issuing 2.34 million units at $0.05 per unit, each consisting of one common share and one warrant (exercise price $0.07, three‑year term).
• Units are subject to a four‑month‑and‑one‑day hold period.

Key Details

• Field Crew Mobilization: A ground team is now on‑site at O'Connor Lake to confirm and evaluate historic targets with satellite imagery, GPS reconnaissance, and existing airborne geophysics data.
• Financing Structure: 2.34 million units issued at $0.05 per unit → gross proceeds of approximately $117,000.
• Unit Composition: Each unit = 1 common share + 1 share purchase warrant.
• Warrant Terms: Warrants allow purchase of one additional common share at $0.07 per share; exercisable for a three‑year period from issuance.
• Purpose of Issuance: Settlement of outstanding loans made by insiders/related parties (Jas Rai, Ritch Wigham, Glen Macdonald) to fund ongoing exploration activities.
• Holding Period: Securities issued in connection with the loan settlement are subject to a four‑month‑and‑one‑day hold period under applicable securities regulations.

Notable Quotes

“We are very excited to have our team on the ground at O'Connor Lake,” said Ritch Wigham, CEO. “This comprehensive program will allow us to validate the promising historic findings and pinpoint new areas of interest, moving us closer to unlocking the full potential of this property.”