ZEB Nickel Corp. to report a new gold zone discovery on its Zeb Project, located in Limpopo, South Africa. In addition to reporting on this new discovery, the Company reported positive assay results from the remaining 5 holes in its recently completed Phase 2 drill program.

These assays have confirmed both the grade and continuity of the Ni mineralization, as well as the presence of higher-grade Ni-PGE bearing Critical Zone lithologies on the project area. The gold zone discovery is located in lithologies adjacent to and beneath the Ni and PGE mineralized zones. Drillholes Z027 and Z029 were drilled at an inclination of 50° on an azimuth of 45°.

The discovery of the gold mineralization now means the there are three known different styles and zones of mineralization within the project area, namely the nickel mineralization in Lower Zone lithologies, the Ni-PGE mineralization associated with Critical Zone lithologies, and lastly, the newly discovered gold mineralization. Historical drilling was largely focussed on defining the nickel resource in the Lower Zone lithologies, and consequently, many of these historical holes stopped short of intersecting the lithologies that host the Ni-PGE mineralization, and potential gold mineralization. Based on the exploration successes in Phase 1 of this drill program, the Zeb Exploration team made the decision that Phase 2 holes should all be drilled into the Penge Iron Formation to test for Ni-PGE mineralization in footwall rocks of any Critical Zone lithologies present on the project area.

This policy has resulted in numerous intersections of Ni-PGE mineralization in Critical Zone rocks which was not previously identified in historical drilling, as well as the new gold discovery. All 14 holes drilled in Phase 1 and Phase 2 demonstrated the presence of nickel sulphide in magmatic rocks, and 13 of these holes demonstrated intersections of economic value. Of these, 12 holes contributed towards an increase in the overall basket price of the Zeb Project.

The results from Phase 1 and Phase 2 exploration programs are presented in Table 2 below. Drill core diameter for all holes is NQ except for Z024, which was drilled BQ, and drill holes are drilled at an inclination of 50 degrees on an azimuth of approximately 45 degrees.