|T.S.E. SYMBOL: CZN
S.E.C. Registration: 0-22216
PROPOSED FINANCING AND ANNUAL GENERAL MEETING
|Vancouver, British Columbia, April 25, 2000:
Canadian Zinc Corporation ("the Company") is pleased to announce that it has agreed a private placement that will support further mineral exploration at its Prairie Creek mine area located in the Northwest Territories.
Yorkton Securities Inc. ("the Agent"), has agreed to broker a private placement via Offering Memorandum of up to 1,800,000 flow through shares at a price of $0.42 per share ("the Financing"). In connection with the Financing the Company will pay the Agent, a commission of 8.0% of the gross proceeds of the Financing plus warrants equivalent to 10% of the shares issued in the Financing exercisable initially at $0.42 per share until 1 year after closing of the Financing and subsequently at $0.48 per share prior to the second anniversary of the closing of the Financing. The Financing is subject to regulatory approval and completion of final documentation.
The following nominees are being proposed by management for election as directors of the Company at the forthcoming Annual General Meeting: Robert J. Gayton, Wayne D. Lenton, John A. MacPherson, Dr. Hugh Morris, Dr. David Shaw and Malcolm J.A. Swallow. The Company's Annual General Meeting will be held at 10:00 a.m. on May 25th, 2000 at the offices of Montreal Trust Company, 510 Burrard Street in Vancouver, British Columbia.
The Prairie Creek property, wholly owned by the Company, is located in the Northwest Territories of Canada. The geological resource is calculated at 11.8 million tonnes grading 12.5% zinc, 10.1% lead and 161 grams of silver per tonne, as independently assessed by MRDI Canada, a division of H.A. Simons Ltd. A Development Cooperation Agreement has been signed with Nahanni Butte Dene Band.
|Alan Taylor, P.Geo., President||(CANADA):||(604) 688-2001|