Nevada Zinc Intersects Extensive High Grade Zinc-Lead Mineralization 91.44m (300 Ft) Grading 9.49% Zinc and 1.34% Lead (10.83% Zinc+Lead)

TORONTO, ON July 22, 2015 / Nevada Zinc Corporation (NZN.V) ("Nevada Zinc" or the "Company") announces that additional Phase 3 drill hole results show the continuation of the zinc mineralization at the Discovery Zone both down-dip and along strike. Highlight drill hole LM-15-36 intersected very significant high grade zinc and lead mineralization averaging 9.49% zinc and 1.34% lead over a 91.44 metre (300 foot) interval. Drill hole LM-15-36 hole was drilled to intersect the deeper extension of the broad zone of mineralization recently reported in drill hole LM-15-27 (press release June 1, 2015) and is now the deepest hole drilled on the Discovery Zone which still remains open to expansion down dip from this location as well as in both directions along strike.

President and CEO, Bruce Durham commented on the results: "We continue to intersect long intervals of high grade zinc lead mineralization and also expand the overall footprint of the Discovery Zone. Importantly there is no drilling beyond the long high grade interval intersected in drill hole LM-15-36 so the ultimate dimensions of the Discovery Zone remain open to further significant expansion."

Highlights

• Drill hole LM-15-33 (-75 degrees) intersected zinc-lead mineralization from 146.30 to 152.40 metres, an interval of 6.10 metres that averaged 2.71% zinc and 0.41% lead (3.12% zinc+lead).

• Drill hole LM-15-34 (-65 degrees) intersected zinc-lead mineralization from 128.02 to 144.78 metres, an interval of 16.76 metres that averaged 4.20% zinc and 1.76% lead (5.96% zinc+lead).

• Drill hole LM-15-36 (-81 degrees) intersected a 91.44 metre zone of high grade zinc and lead mineralization in the interval from 146.30 to 237.74 metres that averaged 9.49% zinc and 1.34% lead (10.83% zinc+lead).

• Drill hole LM-15-36 included a very high grade interval of 22.84% zinc and 2.64% lead (25.48% zinc+lead) over an interval of 21.34 metres within the above noted broad zone of mineralization.

• The Phase 3 drill program results expand the footprint of the Discovery Zone mineralization of mineralization up-dip, down-dip as well as along strike in both directions from the discovery first reported in the Company's press release dated November 19, 2014.

• Drill holes completed in the first three phases of drilling define an area of mineralization over a 180 metre strike length, over a dip length of up to 250 metres and that averages approximately 40 metres in thickness (varying from a few metres to more than 100 metres). Mineralization at the Discovery area remains open to further expansion including in the area beyond the hole 27 and 36 intersections, which intersected the thickest intervals and highest overall grades to date.

• Plans are underway for a Phase 4 drilling program that will commence once BLM surface disturbance approval is received.

Drilling Plan Map

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Drill Sections

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Drilling Details

Reverse circulation drill holes LM-15-33 and LM-15-34 were drilled from a location approximately 30 metres beyond the southeast limit of the Company's previous holes LM-15-21 and LM-15-22 on the Discovery Zone. Drill hole LM-15-33 and LM-15-34 successfully identified zinc and lead mineralization with drill hole LM-15-33 intersecting a 6.1 metre interval assaying 2.71% zinc and 0.41% lead (3.12% zinc+lead) while drill hole LM-15-34, (drilled steeper from the same setup) intersected a wider and higher grade interval of 1.76 metres assaying 4.20% zinc and 1.76% lead (5.96% zinc+lead). No drilling has been completed beyond these holes on this section or farther to the southeast and therefore the Discovery Zone mineralization remains open to further expansion in this area and extending toward the historic Mountain View mine.

Reverse circulation drill hole LM-15-36 was drilled to test for the extension of mineralization and the presence of non-sulphide zinc mineralization down dip from the deepest previous hole on the Northwest Section, drill hole LM-15-27 which intersected broad areas of mineralization that included significant high grade values as reported in the Company's prior press release dated June 1, 2015 LM-15-27 (118.87 metres at 9.58% zinc and 0.74% lead - 10.32% zinc+lead). As noted in that release, some of the other long intervals, the upper, 10.67 metre interval beginning at 131.06 is more lead rich averaging 4.44% lead in addition to 1.97%zinc. The other two high grade intervals in the overall 118.87 metre interval are predominantly zinc rich; the first interval of 15.24 metres assaying 27.82% zinc and the latter, a 9.14 metre interval assaying 26.62% zinc. This sequence is similar to other long intersections previously announced. It is important to note that the intersection in drill hole LM-15-36 is one of the best holes drilled by the Company and also noteworthy that no drilling has been reported along strike to the west or deeper on this section.

Based on the results of the drilling competed to date the Company is unable to determine the true width of the intersections reported in this and prior releases. Reverse circulation drill hole LM-15-35 contained no significant values.

The Phase 3 reverse circulation drilling targeted the extension of dimensions of the non-sulphide mineralized zones tested in the Phase 1 and Phase 2 drill programs and also included drill testing the proximal portion of the well-defined zinc in soil geochemical anomaly. The Company met this objective and plans to further extend the limits of the zone of mineralization in a Phase 4 drill program. Work is also underway on a number of technical fronts that will include preliminary work on the characteristics of the mineralization. The Phase 3 drilling included a limited program of broad spaced drill testing of a strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. Four additional shallow drill holes (LM-15-29-32) designed to test the near surface expression of the geochemical anomaly did not intersect significant values although previously announced drill hole LM-15-28 drilled on the geochemical soil target intersected near surface mineralization over 6.09 metres grading 2.98% zinc. A second well defined soil geochemical anomaly that is primarily lead enriched with lesser anomalous zinc appears to roughly correlate with the location of the more northerly part of the drill holes completed to date including the areas of the collars of holes LM-15-27 and LM-15-36. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims that shows an extension of the soil geochemical anomaly to the southeast of the Mountain View mine.

About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Nevada Zinc subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Property is located in East-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are generally available. The property surrounds the former Mountain View mine that is reported to have produced some 5 million pounds of zinc and some 0.6 million pounds of lead from non-sulphide mineralization comprised of smithsonite, zincite, hydrozincite and cerussite.

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Nevada Zinc personnel. Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample. Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Nevada Zinc personnel. Samples were catalogued by Nevada Zinc geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals.

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility. A 250 gram master pulp was taken, then splits were sent to ALS's North Vancouver, BC facility or their Reno, NV facility. A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis). In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods.

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4. No issues were noted with analytical accuracy or precision.

ALS Chemex's Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company's existing projects are located in Nevada and the Yukon.

For further information contact:

Nevada Zinc Corporation
Suite 612 - 390 Bay St.
Toronto, Ontario M5H 2Y2
Tel: 416-504-8821

Bruce Durham

President and CEO
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www.nevadazinc.com

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 release.

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 may differ materially from those currently anticipated in such statements.
 

SOURCE: Nevada Zinc Corporation