Pima Zinc Corp. Announces Continuance to British Columbia

Toronto, Ontario--(Newsfile Corp. - June 28, 2021) - Pima Zinc Corp. (OTC Pink: RAEWF) (the "Company") is pleased to announce that it has filed a continuation application to continue the Company out of the Cayman Islands under the provisions of the of the Companies Law (2020 Revision) and into the Province of British Columbia under the provisions of the Business Corporations Act (British Columbia) (the "Continuance"). The Continuance became effective on June 25, 2021. The Continuance was approved by the members of the Company at the Annual and Special General Meeting of Shareholders held on February 8, 2021.

No action will be required by existing shareholders with respect to the Continuance. All registered shareholders wishing to receive a new share certificate, must submit their old share certificate in exchange for a new share certificate. Shareholders who hold their shares through a broker, investment dealer, bank or trust company, no action is required, these shares will be automatically converted. Should you require assistance, please contact the Investor Services Department of the Company's registrar and transfer agent, TSX Trust, tmxeinvestorservices@tmx.com or toll-free in North American at 1-866-600-5869.

For further information, please contact:

Albert Contardi
President and Chief Executive Officer
Tel: (416) 361-2832

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward- looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88925