Canadian Zinc Corporation
TSX : CZN
OTC Bulletin Board : CZICF

Canadian Zinc Corporation

March 27, 2009 17:28 ET

Canadian Zinc Corporation: Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2009) - Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) announces that the Board of Directors has approved the grant, subject to regulatory approval, of incentive stock options under the Company's 10% Rolling Stock Option Plan to certain directors, officers, employees, consultants and service providers of the Company, to purchase up to 2,905,000 common shares of the Company. The options are exercisable at a price of $0.23 per common share for a period of five years ending March 27, 2014. The stock options will vest as to one-quarter immediately and a further one-quarter every three months thereafter until fully vested.

The Company currently has 118,955,563 common shares outstanding and, including the grant approved today, a total of 6,940,000 common shares subject to options outstanding under the Stock Option Plan.

About Canadian Zinc:

The Company's principal focus is its efforts to advance the Prairie Creek Mine, a zinc/lead/silver property located in the Northwest Territories of Canada, towards production. The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure.

Contact Information

  • Canadian Zinc Corporation
    John F. Kearney
    Chairman
    (416) 362- 6686
    (416) 368-5344 (FAX)
    or
    Canadian Zinc Corporation
    Alan B. Taylor
    VP Exploration & Chief Operating Officer
    (604) 688-2001 or Toll Free: 1-866-688-2001
    (604) 688-2043 (FAX)
    invest@canadianzinc.com
    www.canadianzinc.com