ZincX Enters into Convertible Loan Agreement

About this update from Zincx Resources Corp.

ZincX Enters into Convertible Loan Agreement (TheNewswire) Vancouver, British Columbia, Canada – Monday, January 27, 2025 – TheNewswire - ZincX Resources Corp. (“ZincX” or the “Company”, TSX Venture Exchange: ZNX; FRA: M9R) announces that the Company has entered into a non-recourse convertible loan agreement dated 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 a supportive shareholder of the Company.” The Loan is for a term of 3 years at an interest rate of 5% per annum. The Company has the option to repay the Loan at any time without penalty or to convert it into common shares of the Company at a price of $0.105 per share (the “Conversion Price”) at maturity. At any time prior to maturity, the lender may elect to convert the Loan, in whole or in part, into common shares of the Company at the Conversion Price. The Company intends to use the proceeds from the Loan to continue to advance the Company’s Akie and Kechika Regional projects in British Columbia and for working capital purposes. The Loan remains subject to the final approval of the TSX Venture Exchange. The Akie Zn-Pb-Ag Project The 100% 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 zinc-lead-silver and stratiform barite deposits. Drilling on the Akie property by ZincX Resources since 2005 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 1 , as follows: 5% Zinc Cut-Off Grade Contained Metal: Category Tonnes (million) Zn (%) Pb (%) Ag (g/t) Zn (B lbs) Pb (B lbs) Ag (M oz) Indicated 22.7 8.32 1.61 14.1 4.162 0.804 10.3 Inferred 7.5 7.04 1.24 12.0 1.169 0.205 2.9 The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA) 1 . The PEA envisages a conventional undergrou...

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