ReMac Zinc Corp.

ReMac Zinc Corp.

November 26, 2010 19:20 ET

ReMac Announces Revised Terms of Private Placement Financing and Filing of Technical Report for Santo Domingo Concession

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2010) - ReMac Zinc Corp. (TSX VENTURE:RMZ) ("ReMac" or the "Company") is issuing this press release to announce the revised terms of the private placement financing (the "Financing") it previously announced by press release on June 14, 2010. The Financing is being undertaken in connection with ReMac's proposed Reverse Takeover (as defined in the policies of the TSX Venture Exchange (the "Exchange") with Corazón Exploraciones S.A. ("Corazón") with respect to the proposed acquisition by ReMac of all of the issued and outstanding shares of Corazón (the "Transaction").

The Financing will consist of the issuance of 12,500,000 subscription receipts of the Company (each, a "Subscription Receipt") at a price of $0.20 per Subscription Receipt and 6,250,000 Subscription Receipts at a price of $0.40 per Subscription Receipt for aggregate gross proceeds of $5,000,000. The proceeds from the sale of the Subscription Receipts will be held in escrow by an escrow agent to be appointed by ReMac pending the automatic exercise of each Subscription Receipt into one common share of ReMac (each, a "Share") upon completion of the Transaction. If the Transaction has not completed by February 28, 2011, ReMac will be deemed to have repurchased all of the Subscription Receipts at an aggregate price equal to the issue price of the Subscription Receipts.

Although the Financing will be non-brokered, the Company will pay a finder's fee to certain finders in accordance with the rules and policies of the Exchange, consisting of a cash payment of 7% of the gross proceeds of the Financing raised by the respective finders.

The Company intends to use the proceeds of the Financing for general working capital purposes and for expenses related to the exploration and development of the Santo Domingo Concession, located in the eastern section of the La Libertad-Santo Domingo mining district, state of Chontales, central Nicaragua, which is intended to be the Company's Qualifying Property (as defined in the policies of the Exchange) in connection with the completion of the Transaction. Completion of the Financing and the Transaction are subject to the approval of the Exchange.

The Subscription Receipts to be issued in the Financing, and the Shares into which the Subscription Receipts will be exercised, will be legended with a hold period in accordance with applicable securities laws and, if required, the policies of the Exchange.

Trading of the Shares on the Exchange will remain halted until the Transaction is accepted by, or satisfactory documentation has been filed with, the Exchange pursuant to Section 3.4 of Exchange Policy 5.2.

Technical Report

The Company also announces that it has received the National Instrument 43-101 ("NI 43-101") compliant Technical Report dated October 25, 2010 (the "Report"), summarizing the Santo Domingo Concession (the "Concession"). The Report is entitled "NI 43-101 Technical Report on the Santo Domingo Concession, Nicaragua" and was prepared at the request of ReMac in connection with the Transaction. It was completed by Paul A. Pelke, SB, SM, California Registered Geologist, of Reno, Nevada, USA., a qualified person as that term is defined in NI 43-101, who is independent of ReMac and Corazón. The Concession is intended to be the Company's principal property upon completion of the Transaction. A copy of the Report is being filed with the applicable securities and regulatory authorities in Canada and can be found on the SEDAR website at



Per: "J. Stephen Barley

J. Stephen Barley

Completion of the Transaction is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of ReMac should be considered highly speculative.

Disclaimer for Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements about whether and when the proposed Financing will be approved and completed, whether the Transaction will be completed, and whether the conditions to completion of each, including the approval of the Exchange, can be satisfied. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risk that the Financing and/or the Transaction may not be approved by the Exchange. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information