T.S.E. SYMBOL: CZN
S.E.C. Registration: 0-22216
 

EXERCISE OF WARRANTS

Vancouver, British Columbia, December 2, 1999:

Canadian Zinc Corporation is pleased to announce that 866,500 common shares in the Company have been issued following the exercise of share purchase warrants that formed part of an April 16, 1999 private placement. One warrant entitled the holder to purchase one common share of the Company, at a price of $0.20 per share, on or before November 30, 1999. The Company now has 21,509,852 common shares in issue.

The net proceeds of $173,300 from the subscription for the warrants, together with the Company’s existing cash resources, will be used for working capital on the Company’s Prairie Creek property, a high grade zinc, lead and silver project in the Northwest Territories of Canada. The current resource hosts 11.6 million tonnes grading 12.5% zinc, 10.1% lead, 0.4% copper and 161 g/t silver.

Alan Taylor, P.Geo., President (CANADA):(604) 688-2001
Website www.canadianzinc.com