TORONTO, May 2, 2019 /CNW/ - Adventus Zinc Corporation ("Adventus" or the "Company") (TSX-V: ADZN; OTCQX: ADVZF) is pleased to announce an updated Mineral Resource estimate and results of a Preliminary Economic Assessment ("PEA") for the El Domo volcanogenic massive sulphide deposit ("El Domo"), located within the Curipamba project, Bolivar and Los Rios Provinces, Ecuador, which will be summarized in an independent National Instrument ("NI") 43-101 Technical Report within 45 days. The study was commissioned by Adventus and carried out by Roscoe Postle Associates Inc. ("RPA") in order to provide a base case assessment for the development of El Domo by both open-pit and underground methods with onsite production of concentrates for copper, zinc, and lead. The Company has an option agreement with Salazar Resources Limited ("Salazar") whereby Adventus may earn a 75% interest in the Curipamba project and Salazar retains a 25% interest.

Highlights
Table 1: PEA Results Summary

Notes:

1)

Unless otherwise noted in this news release, all currencies are reported in US dollars on a 100% basis

2)

Assumes an 18-month construction period as the basis for the internal rate of return ("IRR") and net present value ("NPV") calculations

3)

Long-term, consensus metal forecasting has been provided by RPA

4)

Capital cost estimates used for the PEA are based off benchmarking and not engineering design

5)

C1 Cost is net of direct operating costs and royalties

The economic analysis contained in this news release is based, in part, on Inferred Mineral Resources, and is preliminary in nature. Inferred Mineral Resources are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that economic forecasts on which this PEA is based will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

President and CEO of Adventus, Christian Kargl-Simard stated:

"The positive results of the independent PEA support the significance of the El Domo deposit within the Curipamba project. El Domo's attractive economics compare well with other copper development projects globally across valuation metrics, including cash cost, IRR and capital cost. In particular, the potential free cashflows from El Domo over the first 6 years of mine life offer compelling returns when compared with larger and more capital-intensive projects. Adventus plans to continue engineering and project development activities to further advance El Domo towards a future construction decision.

In parallel, our exploration team has commenced an airborne geophysical survey over the 21,500-hectare Curipamba project for the first time and expect to actively evaluate and drill new targets in 2019. We would like to thank our partner Salazar Resources Limited, as well as the team of independent consultants who have been instrumental in our progress on El Domo and the Curipamba project to date."

PEA Contributors
The following companies have undertaken focused work programs since July 2018 that have been referenced in preparation of the PEA for El Domo:

RPA – Lead author and Independent Qualified Person ("IQP"), Mineral Resource estimation, open pit and underground mine design, mine plan, and mine layout
Klohn Crippen Berger – Tailings storage and waste rock facilities
Knight Piésold Ltd. – Social and environmental matters, access roads and power transmission line
Base Metallurgical Laboratory Ltd. – Metallurgical laboratory work
Independent Mining Consultants, Inc. – Open pit production throughput analysis

Geology and Updated Mineral Resource Estimate
El Domo, located within the Curipamba project, Bolivar and Los Rios Provinces, Ecuador is hosted in a juvenile volcanic-magmatic arc of the Paleocene-Eocene Macuchi Terrane that is known to host at least two other volcanogenic massive sulphide deposits. Sulphide mineralization at El Domo is principally located at the contact between a felsic volcanic dome and overlying volcaniclastic strata and is generally flat lying. It has been traced for approximately 800 m in a north-south direction and between 350 m and 500 m east-west.

An update to the Mineral Resource estimate for El Domo has been completed as part of the PEA to include all recent infill drilling completed in 2018. The updated, open pit constrained, Mineral Resource estimate for El Domo has an effective date of May 2, 2019 and is supported on information provided from 309 core boreholes, totaling 60,449 metres, completed between 2007 and 2018. As seen in Tables 2a to 2c, Measured Mineral Resources for El Domo total 1.4 million tonnes grading 1.92% copper, 0.37% lead, 3.52% zinc, 3.75 g/t gold and 58 g/t silver. The Indicated Mineral Resources for El Domo total 7.5 million tonnes grading 2.02% copper, 0.26% lead, 2.81% zinc, 2.33g/t gold and 49 g/t silver. The Inferred Mineral Resources for El Domo total 1.3 million tonnes grading 1.52% copper, 0.20% lead, 2.25% zinc, 1.83 g/t gold and 42 g/t silver.

The updated Mineral Resource estimate possesses a similar footprint to the previous Mineral Resource estimate (see January 31, 2018 news release), but infill drilling in 2018 resulted in the upgrading of portions of the Mineral Resource from previously classified Indicated to Measured and Inferred to Indicated categories. The new Mineral Resource estimate has a total tonnage distribution of approximately 14%, 73%, and 13% classified in the Measured, Indicated and Inferred categories, respectively, which includes the Measured category for the first time. The increases in average grades in the Measured and Indicated Mineral Resource categories of approximately 24% for copper, 10% for gold, and 21% for zinc are the result of higher net smelter return ("NSR") cut-off values, the improved geological model and related grade estimation domains, and changes to capping levels.

Notes for Table 2a, 2b, and 2c:

1. Mineral Resources in these tables are effective as of as of May 2, 2019

2. CIM (2014) definitions were followed for Mineral Resources

3. A nominal minimum thickness of two metres was applied to the Mineral Resource wireframes

4. Bulk density assigned on a block per block basis using the correlation between measured density values and base metal grade

5. Mineral Resources are reported above a cut-off NSR value of US$25 per tonne for potential open-pit Mineral Resources and US$100 per tonne for potential underground Mineral Resources

6. NSR value is based on estimated metallurgical recoveries, assumed metal prices and smelter terms; which include payable factors treatment charges, penalties, and refining charges

7. Metal price assumptions were: US$3.15/lb Cu, US$1.00/lb Pb, US$1.15/lb Zn, US$1,350/oz Au and US$18/oz Ag

8. Metallurgical recoveries assumptions were based on three mineral types defined by the metal ratio Cu/(Pb+Zn):

• Zinc Mineral (Cu/(Pb+Zn)<0.33): 84% Cu, 84% Pb, 95% Zn, 51% Au and 71% Ag

• Mixed Cu/Zn Mineral (0.33≤Cu/(Pb+Zn)≤3.0): 88% Cu, 85% Pb, 96% Zn, 66% Au and 69% Ag

• Copper Mineral (Cu/(Pb+Zn)>3.0): 88% Cu, 69% Pb, 73% Zn, 27% Au and 50% Ag

9.

NSR factors were also based on the metal ratio Cu/(Zn+Pb):

• Zinc Mineral (Cu/(Pb+Zn)<0.33): 29.94 US$/% Cu, 9.17 US$/% Pb, 11.52 US$/% Zn, 14.17 US$/g Au and 0.27 US$/g Ag

• Mixed Cu/Zn Mineral (0.33≤Cu/(Pb+Zn)≤3.0): 44.20 US$/% Cu, 11.34 US$/% Zn, 22.90 US$/g Au and 0.27 US$/g Ag

• Copper Mineral (Cu/(Pb+Zn)>3.0): 46.27 US$/% Cu, 6.86 US$/g Au and 0.19 US$/g Ag

10. Numbers may not add due to rounding

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