Zazu Metals Corporation
TSX : ZAZ

Zazu Metals Corporation

August 19, 2008 08:30 ET

Zazu Hits High Grade Zinc Intercepts at Start of Summer Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2008) - Zazu Metals Corporation (TSX:ZAZ) ("Zazu") is pleased to announce the first set of drill results from the summer development program at the Lik zinc - lead - silver deposit, 22 km from the Red Dog zinc mine of Teck Cominco (TSX:TCK.B)(NYSE:TCK) ("Teck") in northwestern Alaska.

Zazu is in receipt of the assay results for the first 13 holes of the 36 completed so far this season. All of the 13 intersected mineralization. Two holes have assays where the zinc grade exceeded 30% - the maximum value for the assay method. Zazu is still drilling, and additional results will be forthcoming. Table 1 provides highlights of assay results for these first 13 holes.

Of the 13 holes, 11 are in south west corner of the Lik South deposit. The two highest grading holes (157 and 159) are located towards the center of Lik South, where the next stage of the drilling program is taking place. A map of the drill hole locations is available at http://www.zazumetals.com/main/?proposedWorkProgram.



Table 1. Assay result highlights for the first 13 holes of the 2008
summer development program

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Sample
DDH # & % Pb % Zn % Pb+Zn Ag (g/t) Length From
Grid Loc. Wt. Avg Wt. Avg Wt. Avg Wt. Avg (m) (m) To (m)
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DDH 147
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1200N 480W 0.41 3.53 3.94 64 1.98 123.1 125.1
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DDH 148
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00N 100W 2.50 9.83 12.33 1 7.0 30.5 37.5
----------------------------------------------------------------------
0.46 2.84 3.3 17 10.7 48.2 58.8
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DDH 149
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00N 300W 0.33 5.85 6.18 3 0.6 75.6 76.2
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DDH 150
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800N 570W 1.26 4.28 5.54 53.85 21.64 159.41 181.05
----------------------------------------------------------------------
including 2.03 5.57 7.59 69.29 9.45 159.41 168.86
----------------------------------------------------------------------
DDH 151
----------------------------------------------------------------------
00N 200W 0.70 6.74 7.44 1.3 20.4 53.6 74.1
----------------------------------------------------------------------
including 1.10 9.67 10.78 1.0 13.0 54.3 67.2
----------------------------------------------------------------------
DDH 152
----------------------------------------------------------------------
00N 400W 0.7 3.9 4.6 4.2 29.9 56.4 84.4
----------------------------------------------------------------------
including 2.2 11.8 14.0 2 1.8 56.4 58.2
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including 2.4 9.3 11.7 3.9 2.7 63.4 66.1
----------------------------------------------------------------------
including 1.3 9.3 10.6 5.3 3.2 68.0 71.2
----------------------------------------------------------------------
including 0.9 4.3 5.2 7.5 7.3 77.1 84.4
----------------------------------------------------------------------
1.8 2.8 4.6 5.0 2.6 126.2 128.8
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DDH 153
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600N 300W 2.01 6.79 8.79 55.57 24.99 97.80 122.80
----------------------------------------------------------------------
including 4.36 10.95 15.31 70.00 9.14 103.33 112.47
----------------------------------------------------------------------
including 1.28 12.75 14.04 77.73 3.35 119.48 122.83
----------------------------------------------------------------------
DDH 154
----------------------------------------------------------------------
400N 300W 0.16 1.49 1.65 2.58 3.66 101.50 105.16
----------------------------------------------------------------------
DDH 155
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1000N 450W 0.01 0.71 0.72 3.00 9.14 219.15 228.30
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DDH 156
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400N 100E 0.97 4.42 5.39 2.87 18.9 97.8 122.8
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including 1.20 4.92 6.13 2.51 14.3 33.8 48.2
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including 1.82 6.64 8.45 1.75 6.1 33.8 39.9
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DDH 157
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2000N 300W 2.40 9.62(i) 12.02 95.75 17.37 151.79 169.16
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including 4.29 18.18(i) 22.47 159.78 8.23 151.79 160.02
----------------------------------------------------------------------
(i) - includes one Zn assay over 4 ft reported as greater than 30%
(max. for assay method) and calculated as 30%
----------------------------------------------------------------------
DDH 158
----------------------------------------------------------------------
1200N 90W 1.33 3.19 4.52 12.38 6.40 43.59 49.99
----------------------------------------------------------------------
DDH 159
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2200N 100E 2.75 7.86 10.61(ii) 88.53 26.82 30.18 57.00
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including 3.90 11.22 15.12(ii) 128.72 17.22 39.78 57.00
----------------------------------------------------------------------
including 7.64 19.17 26.81(ii) 200.68 7.62 46.94 54.56
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including 13.15 28.62 41.77(ii) 336.92 3.96 48.46 52.43
----------------------------------------------------------------------
(ii) - includes two Zn assays over 10 ft (159'-169') reported as
greater than 30% (max. for assay method) and calculated as 30%
----------------------------------------------------------------------
Table 1 Assays were conducted by ALS Chemex Laboratories of Fairbanks,
Alaska.


During the 2008 field season, Zazu intends to:

1. Establish a fully compliant NI 43-101 resource for the Lik South deposit based on 26,000 meters of drilling already completed and up to 10,000 meters planned for 2008.

2. Complete geophysical programs to identify potential extensions to the resource, especially in the North Lik area (field work has now been completed; analysis is now pending).

3. Complete initial metallurgical testing (done; results announced June 4th, 2008) and commence design of a preliminary flow sheet.

4. Continue and expand environmental studies by Travis Peterson Environmental to support future mine permitting processes.

To achieve these goals Zazu has 2 drill rigs operated by 3 crews. The drill program is managed by Joe Britton, Zazu's Vice President of Exploration, and supervised by Neil N. Gow, P.Geo., an Associate Consulting Geologist with Scott Wilson RPA of Toronto, Ontario. The majority of the drill holes are in-fill, with some step out holes and testing at depth in the southern portion of the Lik deposit.

In 2009, Zazu plans to complement this year's work with both regional and localized IP surveys to identify further exploration targets. To date, only a relatively small portion of the Lik property has been subject to detailed exploration.

The historical mineral resource at the Lik deposit is 26.7 mm tonnes grading 9.16% zinc, 3.15% lead and 49 g/t silver representing one of the largest undeveloped zinc - lead deposits in the world. These historical estimates predate NI 43-101 are thought to be reliable at current drilling density and are considered to be relevant as they provide an estimate of the approximate size of the LIK deposit. They should not be relied upon until further work is carried out.

Teck is a 50% joint venture partner in the Lik deposit, however Zazu has the exclusive right to obtain 80% of the property by meeting certain spending commitments by 2018.

This news release was reviewed by Mr. Neil N. Gow, P.Geo., an Associate Consulting Geologist with Scott Wilson RPA, who is a qualified person as defined by National Instrument 43-101.

About Zazu Metals Corporation

Zazu is a Canadian-based exploration company focused on acquiring and developing base metal properties in North America. Zazu's principal asset is its 50% joint venture interest with Teck Cominco in the Lik zinc - lead - silver deposit in north western Alaska. As of June 30th, 2008, Zazu had over $8.0 million in cash and short- term investments; more than sufficient to fund the 2008 work program. Additional information about Zazu is available on its website at www.zazumetals.com.

Additional information about the property is on the Teck website (teckcominco.com). Zazu is not responsible for the content, accuracy or timeliness of material contained on the Teck Cominco website.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael A. Steeves, President and COO

Some of the statements contained in this news release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

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