Toronto, Ontario December 8, 2020 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce the appointment of Max Vichniakov to the role of President and CEO of the Company as well as his appointment to the Board of Directors of Nevada Zinc effective immediately. Mr. Vichniakov replaces Bruce Durham who will be transitioning to an advisory role with the Company.
Mr. Vichniakov brings considerable expertise to the Company’s management team and Board of Directors with over 19 years of experience in financial services, investment research, and corporate strategic advisory, and is the founder and Managing Principal at Northern Shoreline Corp., an agriculture and natural resources corporate strategic and financial advisory firm. Prior to launching Northern Shoreline, Mr. Vichniakov spent most of his career in capital markets and worked as a sell-side equity research analyst covering agriculture, mining and minerals, transportation, and business income trusts with Octagon Capital, CIBC World Markets, and Canaccord Genuity. Mr. Vichniakov holds a B.Sc. in Mechanical Engineering and an MBA.
In connection with his appointment Mr. Vichniakov commented: "It is an exciting time for me to become the CEO of Nevada Zinc and I look forward to partnering with the Board as we continue to drive the development of Nevada Zinc’s Lone Mountain project and pursue further opportunities to unlock the value inherent in the asset.”
“The Board is extremely pleased to have Max transition to the role of CEO having provided advisory services to the Company since 2018. As Nevada Zinc expands its strategic focus to the US agricultural and chemicals sectors we are confident that under Max’s leadership, combined with his industry expertise, experience and perspective, the Company will now be well positioned to develop its Lone Mountain zinc project.”, commented Nevada Zinc's CFO and Director, Don Christie.
The Company also announces the acceptance of Mr. Michael Wilson's resignation as an independent director of Nevada Zinc. The Board of Directors would like to thank Mike for his many contributions over the years to Nevada Zinc and wish him success in his future endeavors. Mr. Wilson has kindly offered his expertise in a consulting capacity to the Company.
The Company has granted Mr. Vichniakov incentive stock options to purchase 2,000,000 common shares under the of the Company’s stock option plan at the price of $0.10 per share. The stock options have a five year term with an expiry date of December 8, 2025.
About Nevada Zinc
The Company is focused on its 100% owned Lone Mountain zinc project in east 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 sulphate chemical products for the US agricultural sector. In July of 2020 the Company entered into a Collaboration Agreement with Cameron Chemicals Inc., 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 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.
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
Don Christie, CFO & Director
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 project evaluation studies, 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 Lone Mountain project. 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.
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