Halifax, Nova Scotia--(Newsfile Corp. - November 1, 2021) - ScoZinc Mining Ltd. (TSXV: SZM) ("ScoZinc" or the "Company") is pleased to announce that it has established a non-binding gypsum offtake agreement (the "Gypsum Offtake") with a Nova Scotian end buyer for the life of mine supply of Gypsum from its wholly-owned and permitted Scotia Mine ("Scotia Mine") located in Nova Scotia, Canada.

ScoZinc's President and CEO, Mr. Mark Haywood, stated: "We are very pleased to secure a third and significant revenue stream opportunity for our Scotia Mine that will be incorporated into our forthcoming Pre-Feasibility Study update. As described in our news release of March 22, 2021, the inclusion of a Gypsum revenue stream is expected to improve upon the already robust economics of the Scotia Mine as determined by our 2020 Pre-Feasibility Study dated July 7, 2020."

Gypsum is a soft sulfate mineral, composed of calcium sulfate dihydrate, and is an evaporite mineral most commonly found in layered sedimentary deposits in association with halite, anhydrite, sulfur, calcite, and dolomite. Gypsum's main uses include the manufacture of wallboard (crude Gypsum), drywall cement, plaster of Paris, soil conditioning, and as a hardening retardant in Portland cement. Gypsum is also used in fertilizer, sidewalk chalk, and in many other specialty products. The 2020 crude Gypsum market price was, on average, US$8.60/tonne.

Approximately 75% of Canadian Gypsum production comes from the Province of Nova Scotia, with Gypsum mining being one of Nova Scotia′s most consistent industries for more than 100 years. The Province produced approximately 80% of the total Canadian Gypsum production, and 6% of Gypsum production worldwide. Nova Scotia is known for the quality and size of its Gypsum deposits, as well as access to economical ocean cargo transport. (Source: Nova Scotia Department of Lands and Forestry).

Corporate Update:

• The Company is working on an updated Pre-Feasibility Study NI 43-101 Technical Report for the Scotia Mine (the "2021 PFS"), which will include the Gypsum material defined in the 2021 Mineral Resource Estimate ("2021 MRE"), as announced on March 22, 2021. The 2021 PFS will also primarily take into account the increased metal price forecasts for both Zinc and Lead, and reduced concentrate treatment charges, which together with the Gypsum revenue stream, is expected to further improve the Scotia Mine's economics of the July 2020 Pre-Feasibility Study. ScoZinc expects the results of the 2021 PFS to be available in mid-November 2021.
  
  
• The Company is in active discussions with capital providers, on the equity side, as well as debt and off-take finance, and will provide an update in due course.
  
  
• Mr. Mark Billings has been appointed to the Board of Directors of the Company, as the Fancamp Exploration Ltd. ("Fancamp") Board of Directors nominee pursuant to the terms of Fancamp's $1.55 million equity investment in ScoZinc that was announced by ScoZinc on October 6, 2021. Mr. Billings is currently President of Auxico Resources Canada Inc., which has a gold-silver property in Mexico and a joint venture for tantalum, niobium and rare earth elements in Colombia. He has worked directly in the mining industry since 2008 and presently serves on the boards of other junior mining companies, including St-Georges Eco-Mining Corp., Fancamp Exploration Ltd. and Kintavar Exploration Inc.. Mr. Billings holds a Master of Business Administration (MBA) from the Harvard Business School and is a Chartered Financial Analyst (CFA). From 2004 to 2006, he was Vice-President of Corporate Finance at Desjardins Securities Inc., where he led a number of public and private financings and took companies public on the Canadian stock exchanges.
  
  
• ScoZinc's Annual General Meeting ("AGM") of shareholders will take place on November 30, 2021, at the Scotia Mine in Nova Scotia, Canada. Further details of the AGM have been provided in the meeting materials which this year used the Notice and Access method for delivering the management information circular and other relevant materials to shareholders eligible to participate at the AGM. Proxy materials for the AGM are available on the Internet at: www.ScoZinc.com/financial-reportsor on www.sedar.com under the Corporation's profile.
  
  
• A total of 470,000 stock options have been granted to officers, employees and consultants of the Company at a strike price of C$0.60 and expiring on 29th October 2031, subject to the Company's Stock Option Plan and the policies of the TSX Venture Exchange ("TSX.V").

About ScoZinc Mining Ltd.

ScoZinc is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. ScoZinc also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.

The Company's common shares are traded on the TSX Venture Exchange under the symbol "SZM". For more information, please contact:

Mark Haywood 
President & Chief Executive Officer

Robert Suttie 
Chief Financial Officer