Canadian Zinc Corporation
TSX : CZN

Canadian Zinc Corporation

December 13, 2006 19:31 ET

Canadian Zinc Corporation: Stock Options Granted

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2006) - Canadian Zinc Corporation (TSX:CZN) 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 Officers and Directors of the Company on a total of 1,200,000 shares, exercisable at the price of $0.90 per share until December 13, 2011.

Canadian Zinc has currently 107,590,212 shares outstanding and, including the grant approved today, a total of 4,780,000 shares subject to option outstanding under the Stock Option Plan.

About Canadian Zinc:

Canadian Zinc's 100% owned Prairie Creek (zinc/silver/lead) Project, located in the Northwest Territories, includes a partially developed underground mine with an existing 1,000 ton per day mill and related infrastructure and equipment. The Prairie Creek Property hosts a major mineral deposit containing a historically estimated resource of 3.6 million tonnes (measured and indicated) grading 11.8% zinc; 9.7% lead; 0.3% copper and 141.5 grams silver per tonne and 8.3 million tonnes (inferred) grading 12.8% zinc; 10.5% lead and 0.5% copper and 169.2 grams silver per tonne, with significant exploration potential. The deposit contains an estimated, in situ 3 billion pounds of zinc, 2.2 billion pounds of lead and approximately 70 million ounces of silver.

Contact Information

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