Nevada Zinc Announces Appointment of VP Exploration

Toronto, Ontario--(Newsfile Corp. - February 22, 2021) - Nevada Zinc Corporation (TSXV: NZN) ("Nevada Zinc" or the "Company") is pleased to announce the appointment of Marco Montecinos as VP Exploration, effective immediately.

Mr. Montecinos is a seasoned geologist with over 35 years of experience in exploration projects and business development in the Americas for both public and private companies. Mr. Montecinos recently worked in a consulting capacity for exploration strategy and project development initiatives with several junior exploration companies in the western US. Prior to that, he was Vice President of Exploration at Caza Gold Corp., worked as a Senior Consultant to Intrepid Mines Ltd. in the Americas and Australia and was Vice President of Exploration for Montana Gold. Mr. Montecinos has also worked with a number of intermediate and senior producers including Francisco Gold, Phelps Dodge, Placer Dome, Billiton, Alta Gold and Nerco Minerals. Marco was instrumental in the discovery of the Marlin Deposit in Guatemala and numerous gold deposits in Nevada, Mexico, and Central America. Mr. Montecinos earned his B.A. in Mathematics and Physics with Geology Emphasis at the Western State College, Colorado, and completed a professional course in Hydrothermal Alteration for Mineral Exploration at the University of Idaho. He is Member of the Geologic Society of Nevada, and resides in Reno, Nevada.

Mr. Max Vichniakov, President and CEO commented: "We are very pleased to welcome Marco to our management team. His extensive experience and track record of discovery and mineral resource growth will further aid our work to advance our highly prospective Lone Mountain zinc project. Importantly, Marco's in-depth knowledge of the local geology, combined with his vast exploration and project development experience in Nevada, will be exceedingly valuable and support our additional exploration opportunities in the highly prospective, world class, Eureka Mining District, Nevada."

Nevada Zinc also announces the resignation of Mr. Bruce Durham from the board of directors of the Company. The Company would like to thank Mr. Durham for his service to the Company as a board member since 2010, and wishes him success in his future endeavours.

The Company announces the grant, under the Company's stock option plan, of 1,950,000 stock options to certain officers and directors of the Company. The options vest immediately and entitle the holders to purchase the same number of common shares of the Company at a price of $0.12 per common share for a period of five years.

About Nevada Zinc

Nevada Zinc is focused on its 100% owned Lone Mountain zinc project in central Nevada where it is has been working since 2014 on a significant zinc oxide/carbonate zone of mineralization. To-date, the Company has completed an initial resource estimate and a Preliminary Economic Assessment ("PEA") of the potential economic viability of the project under a variety of assumptions. The PEA does not incorporate the potentially significant incremental economic benefits that could accrue to the Company from re-configuring the open pit mine and plant design to a simpler process that would focus on a lower cost production process for the concentrated zinc mineralization that could then be leached on-site and formulated into high-value zinc sulfate chemical products for the US agricultural sector. In July of 2020 the Company entered into a Collaboration Agreement with Cameron Chemicals Inc. ("Cameron"), a leading U.S. producer and distributor of granular micronutrients to the agricultural, turf, and horticultural industries. Cameron has manufacturing facilities in the states of Washington, Virginia and Michigan. Under the terms of the Collaboration Agreement, Nevada Zinc and Cameron will work together to establish a range of zinc-based micronutrient products to be produced by the Company and marketed by Cameron through its distribution networks. The Company successfully completed an oversubscribed private placement in February 2021 and will commence technical studies on zinc sulfate production and further de-risk and advance its highly prospective Lone Mountain zinc project in the first half of 2021.

Additional information about the Company is available on the Company's website: www.nevadazinc.com

For further information please contact:

Nevada Zinc Corporation

82 Richmond St. East, First Floor
Toronto, Ontario M5C 1P1
Tel: 416-409-8441

Max Vichniakov, CEO, President and Director

[email protected]

Caution Regarding 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, potential economic outcomes, 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.

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

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