ZincX Enters into Convertible Loan Agreement

(TheNewswire)

Vancouver, British Columbia, Canada– Monday, January 27, 2025 – TheNewswire - ZincXResources Corp. (“ZincX” or the “Company”, TSX VentureExchange: ZNX; FRA: M9R) announces that theCompany has entered into a non-recourse convertible loan agreementdated January 23, 2025, in the principal amount of $500,000 (the“Loan”) with a significant shareholder of the Company.

Peeyush Varshney, Chief Executive Officer of ZincX,commented, "We are pleased to enter into this agreement with asupportive shareholder of the Company.”

The Loan is for a term of 3 years at an interest rateof 5% per annum. The Company has the option to repay the Loan at anytime without penalty or to convert it into common shares of theCompany at a price of $0.105 per share (the “Conversion Price”) atmaturity. At any time prior to maturity, the lender may elect to convert the Loan, inwhole or in part, into common shares of the Company at the ConversionPrice.

The Company intends to use the proceeds from the Loanto continue to advance the Company’s Akie and Kechika Regionalprojects in British Columbia and for working capital purposes.

The Loan remains subject to the final approval of theTSX Venture Exchange.

The Akie Zn-Pb-Ag Project

The 100% owned Akieproperty is situated within the Kechika Trough, the southernmost areaof the regionally extensive Paleozoic Selwyn Basin and one of the mostprolific sedimentary basins in the world for the occurrence of SEDEXzinc-lead-silver and stratiform barite deposits.

Drilling on the Akie property by ZincX Resources since2005 has identified a significant body of baritic-zinc-lead SEDEXmineralization known as the Cardiac Creek deposit. The deposit ishosted by siliceous, carbonaceous, fine-grained clastic rocks of theMiddle to Late Devonian Gunsteel Formation.

The Company updated the estimate ofmineral resources at Cardiac Creek in 2018 1 , as follows:

The Company announced robust positive results from the2018 Preliminary Economic Assessment (PEA) 1 . The PEAenvisages a conventional underground mine and concentrator operationwith an average production rate of 4,000 tonnes per day. The mine willhave an 18-year life with potential to extend the life-of-mine (LOM)through resource expansion at depth. Key parameters for the PEA are asfollows:

1. For details and QP statements, see technical reportentitled “NI 43-101 Technical Report Akie Project British Columbia,Canada” prepared by JDS Energy & Mining Inc. and filed on https://www.sedarplus.ca/ onAugust 2, 2028, and News Release dated August 2, 2018.

The base case used metal prices are calculated from the3-year trailing average coupled with two year forward projection ofthe average price; and are: US$1.21/lb for zinc, US$1.00/lb for leadand 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. Alldollar amounts expressed in Canadian dollars.

The PEA is considered preliminary in nature andincludes mineral resources, including inferred mineral resources thatare considered too speculative geologically to have the economicconsiderations applied to them that would enable them to becategorized as mineral reserves. Mineral resources that are notmineral reserves have not yet demonstrated economic viability. Due tothe uncertainty that may be attached to mineral resources, it cannotbe assumed that all or any part of a mineral resource will be upgradedto mineral reserves. Therefore, there is no certainty that the resultsconcluded 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 theKechika Regional Project including the advanced Mt. Alcock prospect.The remaining three contiguous blocks (Pie, Yuen and Cirque East) areowned 49% by ZNX and 51% by Cirque Operating Corporation which is a 50/50 jointventure between Teck and Korea Zinc Co., Ltd .Six additional blocks which constitute the Kechika North project havebeen optioned to an arm’s length third party. All of theseproperties collectively extend northwest from the Akie property forapproximately 140 kilometres covering the highly prospective GunsteelFormation shale; the main host rock for known SEDEX zinc-lead-silverdeposits in the Kechika Trough of northeastern British Columbia. TheKechika Trough represents tremendous potential for additionaldiscoveries. These properties are located approximately 260 kilometresnorth-northwest of the town of Mackenzie, British Columbia,Canada.

Zinc (Zn)

Zinc is one of many critical metals facilitating thetransition to a low-carbon and greener future and is used in renewableenergy storage systems and through the protection of steel to improveits durability and service life in solar and wind turbineapplications. The primary uses of zinc are the galvanization of steelprotecting against corrosion due to weather conditions, the productionof brass and bronze, and in die-casting to produce a wide range ofmetal products. In agriculture, zinc can also increase crop yields andcrop quality and is an essential nutrient in human development anddisease prevention.

Ken MacDonald P.Geo., Vice President of Exploration forthe Company, is the designated Qualified Person as defined by NationalInstrument 43-101 and is responsible for the technical informationcontained in this release. Mike Makarenko P.Eng, JDS Energy andMining, is the designated Qualified Person as defined by NationalInstrument 43-101 and is responsible for the PEA technical informationcontained in this release.

The TSX VentureExchange has neither approved nor disapproved the contents of thispress release.

ON BEHALF OF THE BOARD OFDIRECTORS

ZINCX RESOURCES CORP.

“PEEYUSHVARSHNEY”

pEEYUSH vARSHNEY, LL.B

CEO & CHAIRMAN

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