Zincore Metals Inc.
TSX : ZNC

Zincore Metals Inc.

July 31, 2008 08:53 ET

Zincore Drills 12 Metres of 15.0% Lead and 7.4% Zinc at Yanque

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2008) - Zincore Metals Inc. (TSX:ZNC) ("Zincore" or "the Company") has completed nine additional drill holes at the Yanque deposit in southern Peru, part of Zincore's 100%-owned Accha-Yanque zinc oxide project. The drilling continued to extend mineralization outside the existing inferred mineral resource areas particularly to the south.

Highlights include:

- 28.4 metres of 7.1% lead and 4.3% zinc in hole YA-33, including 11.9 metres of 7.4% zinc and 15.0% lead

- 13.0 metres of 6.1% lead and 1.3% zinc and 9.0 metres of 7.0% lead and 1.8% zinc in hole YA-31

- 10.5 metres of 3.9% lead and 3.2% zinc and in hole YA-34, including 6.0 metres of 5.7% lead and 4.1% zinc.

Zincore's President and CEO Timo Jauristo said: "This drilling successfully extended the mineralization at Yanque and continued to show the strong lead grades we have seen at Yanque. Yanque and the zinc belt between the Accha and Yanque deposits are the focus of our 2008 exploration programs. Our work remains focused on defining and developing a multi-deposit zinc and lead belt that runs from Accha through to Yanque."



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Intersection
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Hole from to intersection Zinc Lead
number (metres) (metres) (metres)(1) (%) (%) Comments
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YA-25 60.9 70.9 10.0 1.75 2.58
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YA-31 101.7 114.7 13.0 1.34 6.14
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126.7 135.7 9.0 1.82 6.99
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YA-32 29.8 41.8 12.0 2.29 0.54
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72.8 112.9 40.1 0.89 1.66
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including 105.1 108.3 3.2 0.28 6.06
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YA-33 102.0 130.4 28.4 4.31 7.11
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including 118.5 130.4 11.9 7.38 14.98
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154.1 161.6 7.5 0.17 4.53 hole ended in
mineralization
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in addition to zinc and lead, this intersection
also assayed 61.8 grams per tonne silver
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YA-34 138.0 148.5 10.5 3.22 3.94
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including 142.5 148.5 6.0 4.07 5.67
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YA-35 60.0 67.0 7.0 4.54 5.35
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(1) True widths not currently known.


Drill holes YA-30, YA-36 and YA-37 did not encounter significant mineralization.

A mineral resource estimate completed on the Yanque deposit in March 2008 increased contained metal within the inferred mineral resources by 88%, outlining inferred mineral resources totaling 10.3 million tonnes grading 5.3% zinc and 5.3% lead for 1.2 billion pounds of contained zinc and an additional 1.2 billion pounds of contained lead. The deposit is near-surface and amenable to open pit mining.

Additionally, four holes were drilled targeting a zinc soil anomaly approximately one kilometre south of the Yanque deposit. Three of these holes, numbered YA-26, YA-28 and YA-29, did not encounter significant mineralization with hole YA-27 returning 6.0 metres grading 3.4% lead and 1.3% zinc from 71 metres, demonstrating the presence of mineralization. The drilling results are being incorporated into further surface work prior to any decision of further work in this area.

A Yanque drill hole location map is available on Zincore's website at www.zincoremetals.com.

Qualified Persons

Vernon Arseneau, P.Geo., Vice President, Exploration for Zincore is supervising the exploration program and is the qualified person as defined under National Instrument 43-101 for this news release.

Quality Control

Zincore has implemented a quality control program to ensure best practice in litho geochemical sampling and analysis of rock chips, trench, tunnel and drill core samples.

All drill core samples (approximately one metre, half-core composites) are shipped in security sealed bags via a private trucking company directly to the ALS Peru Laboratories facility in Lima. All samples for the resource drill program are digested using a three acid digestion and analyzed by two packages. Zinc and lead are determined by Atomic Absorption and if the results exceed 30% they are re-assayed by volumetric methods. All samples are also assayed by ICP for 25 elements (also using the three acid digestion for complete dissolution).

The Company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are being recovered and stored. Prior to a new resource calculation, 10% of all samples used in the resource calculation will be re-assayed at a second laboratory using the same analytical techniques described above. Both a re-assay of the pulp and of a new pulp prepared from the coarse reject will be used.

About the Accha-Yanque Belt

The Accha-Yanque belt consists of 56 concessions over a 30-kilometre distance in southern Peru. At the north end of the belt is the Accha deposit, and at the south end of the belt is the Yanque deposit, which together host inferred mineral resources totaling 2.3 billion pounds of zinc and an additional 1.3 billion pounds of lead. A number of zinc prospects with limited exploration occur along the belt between the Accha and Yanque deposits.

About Zincore

Zincore is a Vancouver-based mineral exploration and development company focused on zinc and base metal opportunities in Latin America. The Company's strategy is to become a leading, low-cost zinc producer by rapidly advancing its 100%-owned Accha-Yanque belt toward a development decision. Zincore holds 62,000 hectares of concessions in southern Peru and is pursuing additional zinc opportunities elsewhere in Latin America. The Company's shares trade on the Toronto Stock Exchange under the symbol ZNC.

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 10, 2008 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.

Information Concerning Mineral Resource Estimates

This news release uses the term "inferred mineral resources". Zincore advises investors that although this term is required and recognized by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize it. Investors are cautioned not to assume that any part or all of the mineral deposits in this category will ever be converted into reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic feasibility. It cannot be assumed that any part of an inferred mineral resource will be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of pre-feasibility studies.

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