Slave Lake Zinc Expands Exploration Project

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2022) - Slave Lake Zinc Corp. SLZ (the "Company"): The three-year gamble to control the mineral "Corridor" that is O'Connor Lake and surrounding area has come to fruition. Risking that the model may be wrong and before Slave Lake had any surety that the specifically targeted land area in the South Slave, which has been under a land withdrawal for nearly a generation and possibly not to be available to any one until land claims were settled, Slave Lake gambled on two fronts. The company flew 900 line km's of airborne geophysics and negotiated a "Collaboration Agreement with the Northwest Territory Métis Nation". This collaboration agreement allowed for the lifting of the "interim land withdrawal" totaling approximately 18,841 acres of the corridor through an "Order in Council" with the Government of the Northwest Territories.

Slave Lake Zinc has strategically expanded its land position by staking 76.25 sq. km. contained in ten mineral claim blocks surrounding the Company's original O'Connor Lake lease. The Company has previously reported substantial surface, and sub-surface, mineralization contained in structural zones traced from border to border of the lease. The original lease area contains historic (non-43-101 compliant) high grade quantities of the Critical Metal Zinc, plus significant grades of lead, copper, and precious metals.

Figure 1 Click to enlarge map

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Slave Lake Zinc has dramatically expanded its land holdings in the under explored South Slave Region of the Northwest Territories. The updated land package comprises the existing O'Connor Lake historic mine site as well as the many geologically similar mineral occurrences (zinc, lead, copper, and precious metals) the company has compiled through their diligent research of publicly available data.

Slave Lake Zinc is a mineral exploration company focused on the development of critical and precious minerals at its O'Connor Lake property located in South Slave Region of Canada's Northwest Territories.

The company acquired the new claims through staking and has a 100% interest in the property subject to a 1.5% NSR. Field work and crews were provided locally by Maskwa Engineering of Hay River.

Slave Lake Zinc was able to obtain the mineral rights through a "Collaboration Agreement" with the Northwest Territory Métis Nation, and assistance from the NWT Territorial Government and the stakeholders in the local communities. The area staked was withdrawn from the regional land withdrawal area, "The Land Withdrawal", by an Order in Council ("OIC") of the Cabinet of the Government of the Northwest Territories to promote economic activity in the region pending resolution of the ongoing Aboriginal Land Claims process.

Slave Lake Zinc thanks all involved as this has helped cement a very important strategic relationship for all the stakeholders in the South Slave region.

The property encompasses the northern portion and eastern side of O'Connor Lake. The property lies approximately 60 km from the soon-to-be-expanded Taltson hydro electric generating facility to the south and approximately 60 km by winter ice road from the all-weather road that connects Fort Resolution with the railhead at Hay River. Cheeta Resources has announced they will be using this rail system to transport concentrate to market from their newly commissioned Rare Earth Element (REE) mine on the north shore of Great Slave Lake, directly to the north of Slave Lake Zinc's O'Connor Lake Project.

The past producing Pine Point Mine is currently being operated by Osisko Metals Inc. who is aggressively acting to rehabilitate the mine which is situated on the highway joining Hay River and Fort Resolution.

Slave Lake CEO Ritch Wigham commented: "Through the Company's Collaboration Agreement with the Northwest Territory Métis Nation, Slave Lake Zinc has secured what we believe is an extensive critical structurally controlled corridor including numerous historic exploration sites. In addition, SLZ has generated a significant modern data base acquired from the field work we have completed to date. The company can now build upon the extensive regional and historic knowledge the company already has. We are extremely excited to continue to apply modern exploration technology to this highly mineralized area."

SLZ has compiled the historic information generated prior to 1952 and merged the data with modern exploration results generated by the Company to date. Field exploration plans for 2022 are being generated from this work.

Figure 2 Click to Enlarge Map

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About Slave Lake Zinc

Slave Lake Zinc Corp. intends to develop the potential of its O'Connor Lake property, an historic zinc lead copper property located in the Northwest Territories of Canada. The property is located south of Great Slave Lake and to the east of Osisko Metals' Pine Point project. The property was initially developed after the Second World War and subsequently abandoned in 1952 when the prices of zinc and lead collapsed post war. Slave Lake Zinc Corp. believes that it is well positioned to advance this project and to expand significantly the historic potential of the property. For more information, please visit www.zinccorp.ca.

The contents of this News Release have been approved by Gary Vivian P.Geo, a "Qualified Person" as defined by NI 43-101

On Behalf of the Board of Directors,

Slave Lake Zinc Corp.
Per:

Ritch Wigham CEO & Director
Phone: 604-396-5762
Email: rwigham@zinccorp.ca

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release

Forward-Looking Statement

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake Zinc's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "plan", "estimate", "expect", "intend", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding the progress of a definitive offtake agreement, potential development and production at the Company's O'Connor Lake project, future oriented events and other statements that are not facts. Forward-looking statements are based on a few assumptions and estimates that, while considered reasonable by management based on the business and markets in which Slave Lake Zinc operates, are inherently subject to significant operational, economic, and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Slave Lake Zinc has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Slave Lake Zinc does not assume any liability for disclosure relating to any other company herein

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128030

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