Slave Lake Zinc Confirms High-Grade District Potential at O'Connor Lake; Assays Return Up to 7.75% Lead and 6.62% Zinc

Vancouver, January 7, 2026 - Slave Lake Zinc Corp. (CSE: SLZ) ("the Company" or "SLZ") is pleased to announce encouraging geochemical results from its late 2025 geologic review at the O'Connor Lake exploration property in the South Slave area, Northwest Territories. The program has successfully validated the Company's regional exploration model, identifying high-grade mineralization in multiple new structures several kilometres distant from the historic Shaft Zone.

Highlights of the 2025 Program:

• High-Grade Mineralization Confirmed: Assays from recently identified vein systems returned grades of up to 7.75% Lead (Pb) and 6.62% Zinc (Zn).
• Widespread Mineralization: Results validate the presence of a district-scale hydrothermal system with multiple mineralized structures identified outside the known Shaft Zone deposit.
• Significant Byproduct Potential: Sampling revealed widespread copper values ranging from 0.17% to 0.92% Cu, along with elevated silver values (up to 19.5 g/t Ag), suggesting multi-element potential including precious metals.
• Geological Validation: Fieldwork confirms that the new vein systems share a similar orientation and appearance to the historic Shaft Zone, supporting the hypothesis of a large, deep-seated hydrothermal origin.
• Strategic Advancement: The program was successfully supported by the Northwest Territories Government's Mineral Incentive Program (MIP).

Program Overview and Geological Context

During late September and early October 2025, Slave Lake Zinc contracted Aurora Geosciences Ltd. of Yellowknife to conduct a short 10-day geological reconnaissance program of the O'Connor Lake property. Operating from a float aircraft-supported tent camp, the field crew concentrated on evaluating historic showings along structural corridors located several kilometres from the historic "Shaft Zone."

The results from this program help transform the Company's regional strategy into reality. The similarities in orientation and mineralogical character between these new discoveries and the original Shaft Zone vein strongly validate the hypothesis that the O'Connor Lake property hosts a regional-scale mineralizing system. The multi-element nature of the assays-highlighted by high-grade lead and zinc paired with significant copper and silver mineralization-points to a complex and fertile hydrothermal system capable of hosting substantial tonnage.

CEO Commentary

Ritch Wigham, CEO of Slave Lake Zinc, commented:

"The results of this season's field program are a major step forward for the Company. We have successfully demonstrated that high-grade mineralization is not confined to the Shaft Zone but is part of a much larger, district-scale system. These results allow us to design a targeted exploration program to resolve the complex structural controls that localized this mineralization. By understanding the timing and orientation of these events, we can prioritize our most promising drill targets. Detailed structural mapping and geophysical surveying will now provide the critical data needed to unlock the full value of this property."

Next Steps

The Company is currently analyzing the findings of this successful program to define the next steps for the 2026 exploration program. This analysis involves integrating new geochemical data to optimize the locations of upcoming geological sampling, structural analysis and geophysical surveys and to delineate diamond drilling targets.

Qualified Person

The technical contents of this news release have been reviewed and approved by Gary Vivian, P.Geo., a "qualified person" as defined by National Instrument 43-101.

About Slave Lake Zinc Corp. Slave Lake Zinc Corp. is focused on exploring and developing its O'Connor Lake property in the South Slave Region of the Northwest Territories. The property hosts a historic high-grade zinc-lead-copper-silver deposit and multiple regional-scale structures with significant exploration upside.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.

Forward-Looking Statement

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Slave Lake Zinc's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "plan", "estimate", "expect", "intend", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding the progress of a definitive offtake agreement, potential development and production at the Company's O'Connor Lake project, future oriented events and other statements that are not facts. Forward-looking statements are based on a few assumptions and estimates that, while considered reasonable by management based on the business and markets in which Slave Lake Zinc operates, are inherently subject to significant operational, economic, and competitive uncertainties and contingencies. Such forward-looking statements should therefore be construed in light of such factors. Although Slave Lake Zinc has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Slave Lake Zinc disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Slave Lake Zinc does not assume any liability for disclosure relating to any other company

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