VANCOUVER, BC, October 28, 2022 /CNW/ – Zacapa Resources Ltd. (TSXV: ZACA), (OTCQB: ZACAF), (DE: BH0) (“Zacapa“) was requested by the TSX Venture Exchange to provide clarification on investor relations and marketing activities previously undertaken.

Zacapa has entered into a market awareness agreement with Native Ads, Inc. (“Native ads“) on July 1, 2021where a fee of $250,000 were paid in two equal installments in July and October 2021. The services were to be provided at the time the deal was struck, but were put on hold until 2022 as Zacapa’s IPO was delayed until January 26, 2022. Zacapa disclosed the deal with Native Ads in a dated press release January 26, 2022.

The Services were provided by Native Ads in Zacapa between January 26, 2022 and February 28, 2022. Zacapa confirms that the agreement with Native Ads is no longer in effect. Native Ads did not participate in Zacapa’s initial public offering and does not deal at arm’s length with Zacapa.

About Zacapa resources

Zacapa is a mining exploration company committed to responsible exploration for the new energy economy. Its projects are focused in world-class jurisdictions in the Southwestern United States, including Arizona, Nevadaand Idaho. The portfolio includes porphyry copper projects at Red Top and Pearl, and epithermal gold projects at South Bullfrog and Mount Miller. These assets are developed by a highly disciplined and experienced professional team with a proven track record in discovery, resource development and mining permitting.

On behalf of the Board of Directors,

Adam Melnik

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained in this press release may contain forward-looking statements that involve important known and unknown risks and uncertainties. All statements contained herein, other than statements of historical fact, should be considered forward-looking. Although Zacapa believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Zacapa cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of factors, many of which are beyond Zacapa’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied by the forward-looking information. Readers are encouraged to rely on their own assessment of these uncertainties. Except as required by applicable securities laws, Zacapa undertakes no obligation to publicly update or revise any forward-looking information.

SOURCE Zacapa Resources


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