31 March 2016
Vancouver, British Columbia, March 31, 2016 - Canadian Zinc Corporation (TSX: CZN; OTCQB: CZICF) is pleased to report, in summary, the results of its 2016 Preliminary Feasibility Study (“2016 PFS”), on the Company’s 100% owned Prairie Creek lead, zinc, silver mine in the Northwest Territories.
The updated 2016 PFS based on optimization work completed over the past three years, including the 2015 underground exploration program at Prairie Creek which increased total Measured and Indicated Resource tonnages by 32%, indicates a Base Case pre-tax Net Present Value (“NPV”) of $509 million using an 8% discount rate, with an Internal Rate of Return (“IRR”) of 32% and a post-tax NPV of $302 million, with a post-tax IRR of 26%.