2 December 2016
Vancouver, British Columbia, December 2, 2016 - Canadian Zinc Corporation (TSX: CZN; OTCQB: CZICF) (“the Company” or “Canadian Zinc”) announces that it intends to undertake a non-brokered private placement of 6,666,667 flow-through common shares (the “FT Shares”) of the Company at a price $0.30 per FT Share (the “FT Share Price”) for aggregate gross proceeds of C$2,000,000 (the “Placement”).
The net proceeds of the Placement will be used to incur eligible Canadian Exploration Expenses and flow-through mining expenditures, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2016. The funds are intended to be used to explore the Company’s properties, which include the Prairie Creek project in the Northwest Territories as well as the South Tally Pond property in Newfoundland.