Nevada Zinc increases private placement to $2-million

Toronto, Ontario – March 23, 2016

NEVADA ZINC INCREASES FINANCING BY 33% TO $2.0 MILLION

Nevada Zinc Corp. has seen increased investor demand in connection with its previously announced $1.5-million private placement on March 15, 2016. As a result of this additional demand, the corporation has increased the size of the offering by 33 per cent to a total of 6,666,666 common shares at a price of 30 cents per share for total gross proceeds to the corporation of $2-million. The offering is now fully subscribed and is expected to close on or about March 31, 2016.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and customary closing conditions for a transaction of this nature. The shares issued pursuant to the offering will be subject to a four-month-and-one-day statutory hold period.

About Nevada Zinc

The Corporation is a discovery driven, early-stage mineral exploration company with a proven management team focused on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Corporation’s existing projects are located in Nevada and Yukon.

For further information contact:

Nevada Zinc Corporation

141 Adelaide St. West, Suite 1660

Toronto, Ontario M5H 3L5

Tel: (416) 504-8821

Bruce Durham, President and CEO

bdurham@nevadazinc.com

www.nevadazinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.