Nevada Zinc Completes Sale of Nevada Mineral Claims

Core Viewpoint - Nevada Zinc Corporation has completed the sale of its mineral claims in Eureka County, Nevada to Minaurum Gold Corp, which includes both owned and leased claims, as part of a strategic move to enhance shareholder value [1][3][10]. Group 1: Transaction Details - The transaction involves 203 mineral claims, including 1 patented claim and 26 unpatented lode claims owned by the Company's subsidiary, as well as 176 unpatented lode claims held through a long-term lease [2]. - Minaurum Gold Corp exercised an exclusive option to acquire 100% of the Company's rights in the owned and leased claims by issuing 3,846,893 common shares valued at $1,000,000 and paying a cash fee of $100,000 [3]. - The transaction was approved by the Company's shareholders on February 7, 2025, and further details are available in the Company's information circular [4]. Group 2: Listing and Financial Implications - Following the transaction, the Company will not meet the Tier 2 Continued Listing Requirements of the TSX Venture Exchange, resulting in its shares being transferred to the NEX Board [5]. - The Company received a secured loan of $173,321.07 from a director, which was used for various operational expenses, and the loan has been extended until repayment is feasible [6][7]. - The loan is considered a related party transaction, and the Company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the low market capitalization impact [8]. Group 3: Strategic Direction - The Company is exploring strategic alternatives to enhance shareholder value, indicating a proactive approach to its financial and operational strategy [10].