Zincore Metals Inc.
TSX : ZNC

Zincore Metals Inc.

August 20, 2009 08:00 ET

Zincore Announces Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Zincore Metals Inc. (TSX:ZNC) ("Zincore" or the "Company") announces that it intends to complete a non-brokered private placement offering of its common shares to raise approximately CDN$5 million in proceeds (the "Offering") at $0.25 per common share. Closing is expected to occur on or about 30 September 2009.

Proceeds from the Offering, which is subject to the approval of the Toronto Stock Exchange (the "TSX"), will be used by Zincore for ongoing exploration at its zinc properties in Peru and Mexico and general working capital purposes.

No finder's fee has been or will be paid with respect to the Offering.

Any participation by insiders of the Company in the Offering, which participation will be subject to the approval of the independent directors of the Company, will be on the same terms as the arm's length investors, and shareholdings of insiders in the Company will increase as a result of any such participation.

About Zincore

Zincore is a Vancouver-based mineral exploration company focused on zinc and base metal opportunities in Latin America. The Company's common shares trade on the TSX under the symbol ZNC.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-looking Statements

It is the current expectation of the Company that it should be able to raise the funds as anticipated, however, there can be no guarantee that this will occur. Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 9, 2009 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Zincore does not assume the obligation to update any forward-looking statements.

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