Nevada Zinc’s Pilot Plant Project Produces High-Grade Zinc Sulfate

Nevada Zinc Corporation (“

Nevada Zinc"

or the "

Company

") (

TSXV: NZN

) is pleased to announce the successful production of high-grade zinc sulfate monohydrate from its pilot plant project. The Company’s zinc sulfate production initiative commenced in March 2021, initially as a bench scale test. Continuous production of zinc sulfate monohydrate, a micronutrient fertilizer, has now been achieved from the multiphase pilot plant project being conducted by Hazen Research Inc. (“

Hazen

”) from sample material provided from the Company's Lone Mountain property located in central Nevada. The pilot plant process can be scaled to the Company’s projected production levels using commercially available equipment.

Mike Wilson, President and CEO, commented “as disclosed in earlier press releases, the ability to continuously produce commercial grade zinc sulfate monohydrate on a pilot plant scale from the representative mineralized material from our Lone Mountain site has been our primary goal since the highly successful bench scale testing was completed by Hazen in Q3 2021. The conceptual technological approach was always there, but the key was to transform the concept into a commercial grade product. We arrived at this critical milestone by virtue of extensive testing and numerous hydrometallurgical experiments with the objective of designing a sustainable process to make naturally produced, traceable to source, high-grade zinc sulfate products suitable for the US agricultural and animal feed markets."

Hazen is currently completing an economic evaluation of the pilot plant process in order to generate operating and capital costs for a commercial scale plant initially capable of processing 500 tonnes per day of open pit ore from the Company’s Lone Mountain deposit. A final report including process flow diagrams and the project’s economic evaluation will then be vetted by an independent Qualified Person as defined by NI 43-101. This vetting process is projected to be completed in April 2023.

About Nevada Zinc

Nevada Zinc is a development stage company focused on the production of zinc-based products including fertilizers, animal feed and chemicals. In March 2021, Hazen commenced a multiphase pilot plant study to produce zinc sulfate monohydrate and further de-risk and advance the development of the Company’s Lone Mountain high-grade zinc carbonate-oxide deposit. In September 2021, the Company announced that Hazen had been successful in the bench scale production of high-grade zinc sulfate monohydrate from ore samples sourced from the Company’s Lone Mountain property. In April 2022, Hazen began the pilot plant operation designed to produce commercial grade zinc sulfate monohydrate. By March 2023, the pilot plant was successful in achieving continuous production of high-grade zinc sulfate monohydrate. A cost analysis of the production process’s operating and capital costs is currently being carried out by Hazen.

For further information please contact:

Mike Wilson, President & CEOT: [phone]Email: [e-mail]

Don Christie, CFOT: [phone]Email: [e-mail]

Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX enture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.