CONSOLIDATED ZINC LTD. – DETAILED COSTING STUDY CLARIFICATION

20181228-DCS-Clarification

As set out in the September 2018 Quarterly Report announced on 29 October 2018, Consolidated Zinc Limited (“CZL” or the “Company”) has undertaken a Detailed Costing Study (“Study”) that was submitted to banks and merchant trading houses and led to finance offers for the Plomosas Project. However, the opportunity presented by Grupo Mexico’s toll treatment and offtake agreement offered greater benefits and was accepted making the Study redundant in its current form.

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