Zinc One Resources Inc. announced that Zinc One has insufficient funds to repay a loan in the principal amount of USD 475,000 plus interest that fell due to InCoR on June 20, 2020. InCoR has agreed not to exercise remedies available to it under the loan agreement between it and Zinc One dated June 20, 2019 before August 31, 2020 (Closing) to complete initiatives described in the Term Sheet. Under the Term Sheet: LeadFX will extend the maturity date of the Loan to December 31, 2021 and, in consideration of the New Maturity Date, Zinc One will issue a bonus to LeadFX payable in post-Consolidation common shares of Zinc One.