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Zinc One Announces Positive Initial Resource Estimate at Bongara Zinc Mine Project, Peru

Wednesday, February 6th, 2019

Indicated Resource of 812,000 tonnes at 18.9% Zn

Inferred Resource of 1,339,000 at 16.8% Zn

Zinc One Resources Inc. (TSXV:Z,OTC Markets:ZZZOF; Frankfurt:RH33 – “Zinc One” or the “Company”) announces the first National Instrument 43-101 (“NI 43-101”) Mineral Resource estimate for its Bongará Zinc Mine project in north-central Peru. The estimate was prepared for the Company by Watts Griffis and McOuat Limited (“WGM”). A supporting NI 43-101 technical report will be available under the Company’s profile on SEDAR at and on the Company’s website at within 45 days of this release.

The estimate consists of an Indicated Mineral Resource of 812,000 tonnes averaging 18.9% Zn containing 339,000,000 lbs of Zn at a 10% Zn cut-off and an Inferred Mineral Resource of 1,339,000 tonnes averaging 16.8% Zn containing 496,000,000 lbs of Zn at a 10% Zn cut-off.

Greg Crowe, Director of Zinc One, stated, “This initial Mineral Resource estimate quantifies the amount of high-grade zinc in an area of known near-surface mineralization along a 1.4-kilometre trend. Further, geologic mapping and surface sampling confirms the potential of the larger Bongará Zinc Mine project to host additional significant zinc mineralization. Overall, the area of the new mineral resource estimate occupies only a small area along the strike of eight kilometres of prospective stratigraphy. In 2019, we plan to carry out additional drilling that includes upgrading the confidence level of the currently defined Inferred Mineral Resources and to expand the overall resource at nearby undrilled high-priority targets located between Mina Chica and Mina Grande Norte and northwest of Mina Chica at Campo Cielo.
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