Zinc One Resources Inc. (TSXV:Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One” or the “Company”) has received the first drill results from the previously announced drill program at its Bongará Zinc Mine project located in north-central Peru. The drill program commenced at the Mina Grande Sur and Bongarita zones where two portable drill rigs are currently operating. The results of this drill program continue to demonstrate the potential value of the project and will provide valuable information towards advancement of the project going forward.

Initial Drill Results Highlights:

Mina Grande Sur

  • A total of 542.9 metres completed from 33 holes (11 platforms x 3 holes each) and results for 11 drill holes reported herein.
  • Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates.
  • Significant intercepts include (1):

    • MGS18001 – 5.5 metres of 26.1% zinc, starting at 3.0 metres drill depth

    • MGS18003 – 4 metres of 32.5% zinc, starting at surface

    • MGS18003 – 15 metres of 21.5% zinc, starting at 15.0 metres drill depth

    • MGS18004 – 9.1 metres of 43.6% zinc, starting at surface

    • MGS18006 – 14.1 metres of 32.8% zinc, starting at surface

Bongarita

  • A total of 587.2 metres completed from 36 holes (12 platforms x 3 three holes each) in an area approximately 100 metres x 150 metres and results from 13 drill holes are reported herein.
  • Mineralization at Bongarita includes zinc silicates hosted exclusively by soils.
  • Significant intercepts include (1):

    • BO18005 – 11.5 metres of 16.0% zinc, starting at surface

    • BO18005 – 5.7 metres of 29.2% zinc, starting at 5.8 metres drill depth

    • BO18007 – 7.0 metres of 25.3% zinc, starting at surface

Jim Walchuck, President and CEO of Zinc One commented, “The results of the drill program at Bongará are very optimistic and further demonstrate the potential of this project going forward. The Mina Grande Sur drill holes confirm the high-grade nature of the Bongará project with many of these intercepts starting at or near surface. Additionally, this is the first time any drilling has been done at Bongarita and the results we have received thus far have been very encouraging.

The results from the program will also contribute to the upcoming resource estimate and PEA planned for 2018. Overall, we could not be more pleased with the drill progress and results to date.”

Geology and Discussion of Results

The zinc mineralization at Bongará is hosted by carbonate rocks and is classified as a Mississippi Valley-type deposit. The mineralization is stratabound and is basically a tabular body with irregular boundaries. Hydrozincite, smithsonite, hemimorphite, and a zinc-aluminum-iron silicate, erroneously referred to as baumite in a previous press release, are the primary zinc minerals that are hosted primarily by heavily-weathered fractured dolomites and dolomite breccias. At Bongarita specifically, mineralization is exclusively hosted by soils. Overall, the mineralization is focused along the axis of a doubly-plunging anticline as well as within the eastern flank of the anticline.

Significant results, including drill-hole orientation and total depths for Mina Grande Sur and Bongarita can be found below in Tables 1 and 2, respectively. Although, there was no zinc mineralization found within the carbonate rocks at Bongarita as there was elsewhere along the 1.4 kilometre long trend, much of the soil drilled provided significant high-grade zinc results. Links to two figures pertaining to the drill program are included below. The first is a link to a plan map of Mina Grande Sur showing the current and proposed drill holes and the second is a plan map of Bongarita again showing completed and proposed drill holes. Both maps also include the recent channel and pit sampling locations previously reported.

Figure 1Bongará Project – Mina Grande Sur

https://zincone.com/projects/bongara-project/drill-program-1/

Figure 2Bongará Project – Bongarita

https://zincone.com/projects/bongara-project/drill-program-1/

Table 1Mina Grande Sur – Drill Results (1)

Drill Hole Easting* Northing* Azimuth