Zincore Metals Inc.
TSX : ZNC

Zincore Metals Inc.

September 30, 2009 16:05 ET

Zincore Closes Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Zincore Metals Inc. (TSX:ZNC) ("Zincore" or the "Company") has completed the non-brokered private placement offering of its common shares, announced in Zincore's news release dated 20 August 2009. The financing consisted of 24,060,000 common shares at $0.25 per share, for total proceeds of $6,015,000. This price represents an approximate 56% premium on the closing price of the Company's shares the day before the private placement was announced on August 20, 2009.

Proceeds from the Offering, which is subject to the approval of the Toronto Stock Exchange (the "TSX"), will be used by Zincore for ongoing exploration at its zinc properties in Peru and general working capital purposes.

The independent directors of Zincore approved the participation in the offering, on the same terms as arm's length investors, of certain insiders of the Company. The Company has been advised that the shares were acquired for investment purposes.

Jorge Benavides, Zincore's Interim President and CEO commented, "The closing of this financing will allow the Company to advance its existing property portfolio as well as allow it to explore for new and exciting opportunities in the Americas to enhance shareholder value. The premium paid by the investors in this private placement shows their confidence in the vision the new board and management have presented for Zincore."

About Zincore

Zincore is a Vancouver-based mineral exploration company focused on zinc and base metal opportunities in Latin America. The Company's common shares trade on the TSX under the symbol ZNC.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-looking Statements

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 9, 2009 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Zincore does not assume the obligation to update any forward-looking statements.

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