Zinc One Resources Inc. (TSX-V: Z) (OTC Pink: ZZZOF) (FSE: RH33) announces that Zinc One has entered into a binding letter of intent with Nubian Resources Ltd. whereby Zinc One has agreed to sell a 100% interest in one of its non-core assets, the Esquilache Silver Project, located in Southern Peru, to Nubian.

Under the terms of the LOI, Nubian paid Zinc One a $25,000 deposit and has agreed to pay $600,000 on closing. The Closing Payment will consist of: (i) a minimum of $125,000 in cash and (ii) up to $475,000 in common shares of Nubian calculated on the volume weighted average price (“VWAP”) for the 60 calendar days preceding the LOI date.

Further, Zinc One will receive four non-refundable annual advanced Net Smelter Royalty (NSR) payments of $162,500. Zinc One will also retain a 2% NSR of which Nubian will have the right to purchase 1% for $500,000 at any time, until the third anniversary of the first sale of gold, silver or concentrate. The parties have agreed to enter into the definitive agreement by November 23, 2017.

Jim Walchuck, Chief Executive Officer of Zinc One stated “The proposed sale of the Esquilache Silver Project reiterates management’s plan to focus on the exploration and development of our flagship Bongará Mine and Charlotte-Bongará Zinc-Oxide Projects in north-central Peru and being a ‘pure zinc’ exploration and development company.”

Closing of the purchase is subject to a number of conditions including acceptance of the TSX Venture Exchange.

About Zinc One Resources Inc.

Zinc One is focused on the acquisition, exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions. Zinc One’s key assets are the Bongará Mine and Charlotte-Bongará Zinc-Oxide Projects in north-central Peru. The Bongará Zinc-Oxide Mine Project was in production from 2007 to 2008, but shut down due to the global financial crisis and concurrent decrease in the zinc price. Past production included 20% zinc grades and recoveries over 90% from surface and near-surface zinc nonsulfide mineralization. High-grade nonsulfide zinc mineralization is known to outcrop between the mined area and the Charlotte-Bongará Zinc-Oxide Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc. The Company is managed by a proven team of exploration geologists and engineers who have previously constructed and operated successful mining operations.