NEVADA ZINC CORPORATION ANNOUNCES PUBLIC OFFERING OF UNITS

Toronto, Ontario (April 10, 2017) – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) is pleased to announce that it has filed and obtained a receipt for a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities regulators in each of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, pursuant to which the Company proposes to complete on a commercially reasonable efforts basis a public offering of units of the Company for gross proceeds of $2,000,000 (the “Offered Securities”) upon terms to be determined in the context of the market (the “Offering”) and subject to completion of satisfactory due diligence.

The Offered Securities will be units consisting of one common share in the Company and one-half of one common share purchase warrant (“Warrant”). Each whole Warrant shall be exercisable into one common share of the Company at a price of $0.50 per Warrant for a period of 24 months from the closing date of the Offering.

Canaccord Genuity Corp. (the “Agent”) is acting as sole lead manager and sole bookrunner in respect of the Offering. The Company has granted the agent an over-allotment option to sell up to an additional 15% of the Offered Securities pursuant to the Offering, exercisable in whole or in part at any time up to 60 days from the closing of the Offering, to cover over-allotments, if any. The Company has agreed to pay the Agent a commission equal to 8% of gross proceeds of the Offering payable in cash or Offered Securities, or any combination of cash or Offered Securities at the option of the Agent. The Company has also agreed to issue to the Agent non-transferrable options (the “Compensation Options”) entitling the Agent to subscribe for that number of units as is equal to 8% of the number of Offered Securities sold pursuant to the Offering at the deemed issued price. Each Compensation Option shall be exercisable for units consisting of one common share in the Company and one-half of one common share purchase warrant (“Agent Warrant”). Each whole Agent Warrant shall be exercisable into one common share of the Company at a price of $0.50 per Agent Warrant for a period of 24 months from the closing date.

Nevada Zinc intends to use the net proceeds of the Offering for continuing exploration and development of the Company’s Lone Mountain zinc project in Nevada and the Company’s gold exploration projects in Yukon, and for working capital and general corporate purposes.

A copy of the Preliminary Prospectus is available at www.sedar.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Offered Securities, nor shall there be any sale of the Offered Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Offered Securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Nevada Zinc

Nevada Zinc is a discovery driven mineral exploration company with a proven managem ent team focused on identifying unique mineral exploration opportunities that can provide significant value to its shareholders. The Company’s existing zinc and gold projects are located in Nevada and Yukon, respectively.

For further information contact:

Nevada Zinc Corporation

Suite 1660, 141 Adelaide St. West Toronto, Ontario M5H 3L5

Tel: 416‐504‐8821

Bruce Durham, President and CEO bdurham@nevadazinc.com

www.nevadazinc.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute “forward looking statements”, which are not comprised of historical facts. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”, and similar expressions. Specifically, forward looking statements in this news release include, without limitation, statements regarding: the closing of the Offering and the use of proceeds therefrom; the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Nevada Zinc to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management’s expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting Nevada Zinc will continue substantially in the ordinary course and will be favourable to Nevada Zinc. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: the need to satisfy regulatory and legal requirements with respect to the Offering; changes in equity markets, the Company’s ability to raise additional capital if and when necessary; and other factors as described in detail in Nevada Zinc’s Annual Information Form and Nevada Zinc’s other public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Nevada Zinc disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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