Zinc of Ireland NL advised that it has entered into a binding agreement with the shareholders of Unconformity Zinc Pty Ltd. (ACN 649 568 249) (Unconformity Zinc) to acquire 100% of the issued share capital in Unconformity Zinc (Acquisition). Unconformity Zinc is the owner of exploration licence application 38/3624 (Tenement), which will be owned by ZMI once the Acquisition completes. The Company anticipates that the Acquisition will complete by the end of this week. The Tenement is largely unexplored with previous operators having focused on gold within Archean greenstones adjacent to the Tenement and under Proterozoic cover, especially to the west of the Tenement area. A wide-spaced State geochemistry programme has returned a 181ppm Zn result (WACHEM dataset Sample ID 166818_C1M3SD3) coincident with the Frere/Yelma Unconformity. The Tenement contains approximately 23km of strike of the target unconformity between the Frere and Yelma formations. The Paleoproterozoic Frere Formation is comprised of granular iron-formation, granular siliceous iron-formation, peloidal chert, siltstone and sandstone and unconformably overlies sandstones, siltstones, shales, minor conglomerates and dolomite of the older Yelma Formation. ZMI considers the Tenement to be prospective for sedimentary exhalative (SEDEX) zinc lead mineralization and amenable to low-cost geochemical exploration techniques along the unconformable contact. The Zn-Pb mineralization identified at Chinook and Magazine is reported to occur as sphalerite galena and pyrite hosted within sandstone sub-basins overlying the Frere/Yelma unconformity. Previous ground-based exploration on the Tenement appears to be limited based on a search of open source data. Airborne magnetic and radiometric was collected by North Ltd. in 1996 (WAMEX openfile Ref: A52845) providing coverage of approximately two thirds of the Tenement including all of the unconformable contact target area. North Ltd. have interpreted several structural sets within the magnetic data. These include: D0 NNW-SSE features representing extension. D1 NNW-SSE features representing shortening. D2 ENE-WSW major throughgoing structures which dominate regional strike. D4 N-S features representing dextral strike slip.