Slave Lake Zinc Extends "Shaft Zone" Border to Border

Vancouver, October 22, 2019 - Slave Lake Zinc Ltd (CSE: SLZ) ("the Company") has compiled results of exploration conducted at the O'Connor Lake project. The O'Connor Lake property hosts zinc-lead-silver mineralization contained in an extensive vein fault system of hydrothermal origin.

Slave Lake Zinc has conducted programs of prospecting and cut grid controlled geophysical surveying to date. The Company has now identified a mineralized corridor extending over an additional 700 meters south east from the Shaft Zone. This continuous zone has now been traced for a length of 1100 meters. The extension has been traced by co-incident Magnetic and EM geophysical anomalies along a structure interpreted from a study of air photos. Samples taken by the company from trenches 500- 600 meters along the trend from the shaft zone returned assays of 20% plus combined zinc plus lead. These results are consistent with Shaft Zone results which had been released earlier. The mineralized corridor remains open to extension along strike. A compilation plan of these results is available on the company's web site: (Click Here for Geophysics Map and Click here for Grid Map)

The property hosts historic workings including a headframe and underground drifting known as the "Shaft Zone". This zone has been traced by pits and diamond drilling for a length of over 400 meters. The "Shaft Zone" is open at depth with the deepest historic drilling intersecting mineralization down to 200 metres, the deepest known historic drilling. Samples from pits along the zone and the Shaft dump returned assays ranging from 10 to 27% zinc plus lead.

The property lies 60 miles (95 Km) kilometers east of Fort Resolution NWT on the south shore of Great Slave Lake; and 45 miles (72 Km) north of the hydro-electric generating station at Taltson River gorge. Fort Resolution, a community of First Nations and Metis peoples represented by the Deninu Kue First Nation, as well as the Northwest Territories Metis Nation, is accessible by a year-round government-maintained highway. The O'Connor Lake property is currently accessed by charter aircraft available from Yellowknife and Fort Smith. A presently unused winter "ice road" connects the property with Fort Resolution.

Slave Lake Zinc CEO Mr. Ritch Wigham commented "The Company is pleased to report results from our initial exploration at O'Connor Lake. The Company's field program was ably assisted by personnel from the Fort Resolution community. The mineralized structure we have identified extends from border to border across our present property."

On behalf of the Board of Directors

Ritch Wigham, CEO
Phone: 604-396-5762
Email: rwigham@zinccorp.ca

The contents of this News Release have been approved by Glen Macdonald P.Geo, a "Qualified Person" as defined by NI 43-101

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release

Forward Looking Statement
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake Zinc's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "plan", "estimate", "expect", "intend", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding the progress of a definitive offtake agreement, potential development and production at the Company's O'Connor lake project, future oriented events and other statements that are not facts. Forward-looking statements are based on a few assumptions and estimates that, while considered reasonable by management based on the business and markets in which Slave Lake Zinc operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Slave Lake Zinc has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Slave Lake Zinc does not assume any liability for disclosure relating to any other company herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48990