Mr. Ritch Wigham reports

SLAVE LAKE ZINC IDENTIFIES MAJOR DEEP-SEATED HYDROTHERMAL SYSTEM AND LARGE-SCALE METAL ZONATION AT O'CONNOR LAKE

Continuing progressive exploration work at Slave Lake Zinc Corp.'s O'Connor Lake property has confirmed and significantly advanced the understanding of the project's regional-scale economic geology and hydrothermal mineralized system.

Data analysis has identified a strong, large-scale zonation in metal content recognized over an area of eight by five kilometres across the SLZ property structural corridor. This new interpretation suggests a major deep-seated magmatic-hydrothermal system that was active over time, resulting in a classic depositional zonation pattern that extends the exploration potential beyond the historic zinc-lead showings.

Expanding the mineralized footprint

The company has identified that gold and silver occur in mineralized structures in a broad outbound pattern located five to seven kilometres northwest to west of the central Shaft zone zinc-lead deposit.

Highlights of this distal zonation include:

• Historic high-grade gold: Known historic gold showings in this outer arc contained values of 0.88 ounce per ton (approximately 30.17 grams per tonne) at the BSM2 showing and 30.2 g/t at the MCO showing. (These are historic non-compliant National Instrument 43-101 assays.)
• Regional consistency: Limited copper analysis to date exhibits a similar regional zonation pattern, reinforcing the model of a large, unified system.

"Identifying this eight-by-five-kilometre zonation corridor fundamentally changes the scale and the exploration model for the O'Connor Lake project," stated Ritch Wigham, the chief executive officer of Slave Lake Zinc. "We are seeing a classic mineralization signature where high-grade gold and silver mineralization occur distal to our established zinc-lead core. This validates our belief that we are dealing with a large, deep-seated hydrothermal system, and it opens entirely new high-priority targets for future exploration."

Understanding the zonation sequence

The zonation observed at O'Connor Lake follows a classic orogenic gold hydrothermal deposition model. In these systems, mineral deposition largely forms in response to elevated heat and fluid fluxes under intense deformational pressures (Taltson magmatic zone) associated with compression to transpressional deformation in significantly metamorphic terranes.

The sequence of zonation:

1. Proximal (centre): high-temperature base metals; at O'Connor Lake, this is represented by the Shaft zone, which is rich in zinc and lead. These metals typically precipitate closer to the heat source where fluids are hotter.
2. Distal (outer periphery): lower-temperature precious metals; as the hydrothermal fluids travel outward through fractures and cool, the solubility of metals changes. Precious metals like gold and silver typically precipitate in the cooler, distal zones, forming a halo or arc around the base metal core.

This mineralization signature supports the theory that the O'Connor Lake property hosts a district-scale system rather than isolated deposits.

Structural controls and next steps

While the structures hosting the precious-metal-rich mineralization are located within the complex Taltson magmatic zone, they are believed to be concentrated in secondary-stage splay faults.

Current interpretation recognizes multiple-stage fracture systems though precise mineralizing controls remain to be determined. The company views these secondary splays as high-priority targets for gold and silver enrichment.

Coming exploration: Aurora Geosciences Ltd. of Yellowknife is currently designing a multistage exploration program. This program will focus on establishing a conceptual model for the property that hosts a large orogenic gold/base-metal system with mineralized structures and potential future drill targets to test both the established base metal zones and the newly defined precious metals.

Qualified person

The technical content of this news release has been reviewed and approved by Gary Vivian, MSc, PGeol, a qualified person as defined by National Instrument 43-101.

About Slave Lake Zinc Corp.

Slave Lake Zinc is focused on exploring and developing its O'Connor Lake property in the South Slave region of the Northwest Territories. The property hosts a historic high-grade zinc-lead-copper-silver deposit and multiple regional-scale structures with significant exploration upside.

We seek Safe Harbor.