Zincx Resources to appoint Chen as director

Mr. Peeyush Varshney reports CHANGE OF BOARD REPRESENTATION FOR TONGLING NONFERROUS METALS GROUP HOLDING CO. LTD. Tongling Nonferrous Metals Group Holding Co. Ltd. will be appointing Bangguo Chen, a senior executive of Tongling, to replace Xinfu Hu on Zincx Resources Corp.'s board of directors. Mr. Hu, who has served as a director of Zincx for almost seven years, has retired from his position at Tongling. 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 product processing of copper, lead, zinc, gold, silver, and other non-ferrous and rare metals. Peeyush Varshney, chief executive officer of the company, stated, "We thank Mr. Hu Xinfu for his contributions to the board and look forward to Mr. Chen Bangguo joining our board and greatly value his and Tongling's wealth of exploration and production experience across multiple facets in the base metal mining sector." The appointment will require the necessary approvals of the relevant Chinese regulatory departments and the TSX Venture Exchange. Separately, effective July 18, 2025, Ken MacDonald has resigned from his position as vice-president of exploration. The company thanks him for all of his valuable contributions over the years and wishes him well in his future endeavours. The Akie zinc-lead-silver project The 100-per-cent-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 (sedimentary exhalative) 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 2018 as follows. The company announced robust positive results from the 2018 preliminary economic assessment (PEA). 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. The metal prices used in the base case are calculated from the three-year trailing average, coupled with two-year forward projection of the average price, and are: $1.21 (U.S.) per pound for zinc, $1 (U.S.) per pound for lead and $16.95 (U.S.) for silver. A Canadian-dollar/U.S.-dollar exchange rate of 0.77 was used. The NPV (net present value) discount rate is 7 per cent DMS refers to dense media separation. All dollar amounts are 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 per cent of eight of 11 large, contiguous property blocks that comprise the Kechika regional project, including the advanced Mount Alcock prospect. The remaining three contiguous blocks (Pie, Yuen and Cirque East) are owned 49 per cent by Zincx and 51 per cent by Cirque Operating Corp., which is a 50/50 joint venture between Teck Resources Ltd. 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, B.C., Canada.