Zazu Metals Corporation

Zazu Metals Corporation

March 17, 2009 08:30 ET

Zazu's 2008 Highlights and 2009 Goals

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) -

Zazu Metals Corporation (TSX:ZAZ) ("Zazu") is in receipt of all drill assay results from the 2008 summer season program and is pleased to provide highlights as well as Zazu's 2009 goals for the Lik zinc - lead - silver deposit, located 22km from the Red Dog zinc mine of Teck Cominco ("Teck") in northwestern Alaska.

Zazu conducted a 58 drill hole program for a total of 6,829m representing both infill and step out drilling in 2008. Every hole hit significant sulphide mineralization. Of the 58 holes:

- 25 contained sample lengths in excess of 25m with significant sulphide mineralization as shown below

- 6 contained sample lengths in excess of 50m with significant sulphide mineralization

- 28 contained zinc + lead grades greater than 10% in sample lengths greater than 5m.

Notable amongst the high grade intercepts were:

From To Length Ag
(m) (m) (m) Pb% Zn% Pb+Zn% g/t
DDH-159 46.94 54.56 7.62 7.64 22.22 29.87 200.68
DDH-161 22.56 38.56 16.00 11.25 27.70 38.95 444.30
DDH-171 30.18 45.11 14.94 8.58 23.46 32.03 149.14
Table 1. Assay result highlights from higher grade intercepts from the
2008 program. Assays were analyzed by ALS Chemex Laboratories of Fairbanks,

Notable amongst the longer intercepts were:

From To Length Ag
(m) (m) (m) Pb% Zn% Pb+Zn% g/t
DDH-160 52.12 117.65 65.53 2.52 6.26 8.78 37.72
DDH-182 52.73 96.62 43.89 2.8 9.12 11.92 97.5
Table 2. Assay result highlights for longer intercepts from the 2008
program. Assays were analyzed by ALS Chemex Laboratories of Fairbanks,

The holes were drilled over 1200m of strike length. The consistency of the deposit continues to support Zazu management's belief in the enormous potential of the Lik property. Due to the shallow dipping, stratiform nature of the Lik South deposit, true thickness is estimated to equate to 85% to 90% of the sample lengths.

During 2008 Zazu was also able to:

1. Complete preliminary access study, assessing existing road and port facilities.

2. Initiate discussions with Alaska Industrial Development and Export Authority to construct the 20km road extension to Lik.

3. Complete metallurgical testing that showed excellent recoveries for both zinc and lead.

4. Initiate the environmental studies for the mine permitting process.

5. Complete a geophysical program identifying additional exploration targets.

As of December 31st, 2008, Zazu's treasury was US$4.52 million.

A table of assay result highlights for every 2008 drill hole and a map of their locations are available at:

Zazu is in receipt of all assay results for the 2008 program. This data will be incorporated into an NI 43-101 resource estimate to be prepared by Scott Wilson Roscoe Postle Associates, Inc. (Scott Wilson RPA).

Zazu is in the enviable position of having a limited number of shares outstanding, no debt and a strong treasury and by taking Lik from exploration into the early development stages last year, Zazu is able to now continue development with a relatively inexpensive program in 2009 which is estimated at around US$650,000. This will allow the conservation of the treasury while maintaining timelines. During 2009 Zazu intends to:

1. Receive a current mineral resource and NI 43-101 technical report from Scott Wilson RPA.

2. Receive a Meteorological Study supervised by Travis Peterson Environmental (TPE).

3. Continue ongoing environmental studies as part of future mine permitting through TPE.

4. Receive an analysis by PND Engineers, Inc. of the DeLong Mountains port facility to determine modifications required to ship Lik ore.

5. Receive an analysis by Lounsbury Engineers of the approximate costs and requirements or corridor routes.

6. Have Scott Wilson RPA incorporate the above data into a scoping study.

7. Convert the Lik federal claims package to state claims.

The historical mineral resource at the Lik deposit is 26.7 million 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 that predate NI 43-101 are thought to be reliable by Scott Wilson RPA 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 current work is used to update the resource.

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 northwestern Alaska. Additional information about Zazu is available on its website at

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


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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