Adventus Zinc Corporation

Adventus Zinc Corporation

June 14, 2017 08:00 ET

Adventus Zinc Corporation Provides Exploration and Corporate Update

TORONTO, ONTARIO--(Marketwired - June 14, 2017) - Adventus Zinc Corporation (TSX VENTURE:ADZN) ("Adventus" or the "Company") is pleased to provide an update of its 2017 exploration programs in Ireland and in Newfoundland and Labrador, Canada.


Adventus' Phase 1 Lismore exploration program is nearing completion, utilizing advanced geochemical and structural studies to refine targets for a potential Phase 2 drilling program. Follow-up field work, data processing and interpretation of Phase 1 Lismore results are underway, with a decision on the Phase 2 drilling program expected in the third quarter of 2017. Adventus' technical team is focusing initial targeting on a 3 km zone with strong historical soil and deep overburden zinc geochemical anomalies.

At Rathkeale, continuing exploration is similarly focused on structural and geochemical studies. Prior to a Phase 2 drilling program at Rathkeale, Adventus has mobilized equipment for a seismic survey on the project. The Company has selected IMCGSL to complete the survey, and are sharing mobilization-demobilization costs associated with the survey with other groups in Ireland. The seismic program at Rathkeale is aimed at refining the structural interpretation of the property, which contains prospective Waulsortian Mudbank Limestone, several historic surface showings and trial mines, as well as thick breccias, alteration and conglomerates within a structural setting currently interpreted as a fault bounded half graben. The Rathkeale project lies along strike to the west of the Tobermalug deposit and Stonepark prospect of Glencore and Teck Resources respectively.

Various figures and maps on Rathkeale, which illustrate the seismic survey details, are available here.

Newfoundland and Labrador, Canada

In March 2017, Adventus successfully staked an additional 449 claims contiguous to its Buchans project, increasing the total number of claims to 1,341 held under twelve map staked mineral licences covering 33,525 hectares.

As outlined in Adventus' January 2017 prospectus for its initial public offering, Adventus continues to advance its two-phased exploration work program, with Phase 1 covering the completion of a 3,547-line kilometre heli-borne time-domain electromagnetic ("EM") survey and interpretation of related results. In May, Adventus received the survey permits for the full Buchans project, including the newly staked claims. In addition, Adventus has completed several third-party agreements in the region to include adjacent lands in the survey. The EM survey, awarded to SkyTEM and employing the SkyTEM312 system, commenced on June 8th and is expected to be completed by the end of June 2017.

The Phase 2 exploration program, planned for the second half of 2017, is expected to reflect grid-based ground geochemical and geophysical follow up programs, continued re-logging of historic core, and a contingency for 2,000 metres of core drilling to test highest priority targets. Some aspects of Phase 2 shall be contingent on the results from Phase 1 EM survey program.

Schematic details of the recently staked new Adventus claims and the EM survey area are available at the Adventus website. Click here to view the map.

Corporate Update

Adventus reports that all resolutions presented at its June 8, 2017 Annual and Special Meeting were approved by shareholders, including the re-election of directors Christian Kargl-Simard, Brian Dalton, Chad Wells, Michael Haworth, Sally Eyre and Mark Wellings. 72.3% of the shares outstanding voted in person or by proxy.

On potential acquisitions and joint venture transactions, Adventus continues to progress commercial discussions with a select number of parties with high-impact exploration and advanced stage zinc projects capable of meeting the Company's target criteria. Confidentiality agreements have been signed to complete more detailed analyses and evaluations as part of ongoing due diligence reviews and commercial discussions.

In addition, Adventus is please to welcome two additional veteran exploration geologists who are advising Adventus management on due diligence reviews and exploration opportunities.

Rick Valenta, Exploration Advisor

Rick is a is a structural and economic geologist with over 30 years of experience in mineral exploration research, consultancy and management. He has played a key role in numerous successful exploration programs with a range in focus including regional project generation, opportunity review and sourcing, regional and local 3D modelling of mineralized systems, and advanced exploration of known prospects, working with a range of major and junior companies. He has held senior management and technical positions in a number of ASX and TSX junior companies who have successfully created significant value for their shareholders through sale of the company or individual projects.

Bedric Mory, Exploration Advisor

Bedric is a professional geologist with over 25 years of experience in the mining industry, having led exploration programs in senior geology operating and management roles. He has worked in several exploration and production mining companies including Glencore, Anglo American and Placer Dome with extensive experience in Latin America for project evaluations and acquisitions. Bedric graduated from Major National University of San Marcos, Peru and holds a master's degree in Business Administration.

About Adventus Zinc

Adventus Zinc is a newly formed company focused on zinc exploration in Ireland and Eastern Canada, as well as a mandate to acquire or partner in high quality zinc projects globally. Its major shareholders are experienced and respected investors in the mining business, providing significant financial and technical support. The Company is based in Toronto, Canada, and is listed on the Toronto Venture Exchange under ADZN-V.

Forward Looking Statement

This press release contains "forward-looking information" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the trading date of the Company's Common Shares and its future business plans. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the final prospectus dated January 23, 2017. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

No securities regulatory authority has either approved or disapproved the contents of this press release. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities law and may not be offered or sold in the United States except in compliance with the registration requirements of the said Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.

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