Leaching of the dross containing 28.7% Sn, 18.0 Pb, 10.6% Cu, 8.9% Ge, 8.1% Zn, and 2.7% In in sulphuric and oxalic acid solution was investigated. The dross was obtained from thermal oxidation of by-product alloy generated during a New Jersey (NJ) zinc rectification process. The influence of different process conditions (temperature, time, acid concentration, and solid to liquid ratio) on leaching yield of the main components was determined. Additionally, the impact of oxidant (hydrogen peroxide, sodium hypochlorite, manganese (IV) oxide) addition on leachabilities was investigated. Germanium leaching yields exceeding 80% were observed for both sulphuric and oxalic acid solutions. Indium leachability in H2C2O4(aq) was found at the level of 20%, while in H2SO4(aq), it strongly depends on process temperature, and reached 80% at 80 °C.