Zincore Metals Inc.
TSX : ZNC

Zincore Metals Inc.

November 26, 2007 07:00 ET

Zincore Drills High-Grade Zinc and Lead at Yanque, Including 25 Metres of 11.3% Zinc and 24 Metres of 8.4% Lead

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Zincore Metals Inc. (TSX:ZNC) ("Zincore" or "the Company") has completed an additional 10 diamond drill holes at its Yanque deposit in southern Peru, part of Zincore's 100%-owned Accha-Yanque zinc oxide project. The drilling has continued to extend zinc and lead mineralization outside of the inferred mineral resource areas.

Highlights of the drilling include;

- Hole YA-20 which intersected 25 metres grading 11.3% zinc and 3.81% lead from 3 metres, including 12 metres of 16.2% zinc and 6.5% lead,

- Hole YA-19 which intersected 24 metres grading 8.4% lead and 0.7% zinc from 48 metres and 5 metres grading 11.9% lead and 0.31% zinc from 76 metres within a 58-metre intersection grading 5.3% lead and 0.8% zinc. Hole YA-19 also had a shallower intersection of 19 metres grading 4.4% zinc and 0.52% lead from 4 metres, and

- Hole YA-12 which intersected 10 metres grading 7.2% zinc and 3.0% lead from 35 metres within a 35-metre intersection grading 2.98% zinc and 2.13% lead.

Timo Jauristo, President and CEO, commented, "The drilling at Yanque continues to generate exciting results with wide, near-surface intersections of zinc and lead. Lead is shaping up to be an important part of the mineralization at Yanque and our 6.6 million tonne inferred mineral resource estimate did not consider lead-rich zones unless they also contained economic zinc. Therefore, in addition to extending the zinc-rich zones, we have the opportunity to bring lead-rich zones and lower grade combined zinc/lead zones into the resources as we advance our drilling program and metallurgical test work. These opportunities provide significant upside at Yanque."

Zincore is carrying out exploration and definition drilling at Yanque targeted at expanding and upgrading a near-surface deposit amenable to open pit mining. Of the 10 drill holes reported in this release, nine are exploration holes drilled outside of the inferred mineral resource area and one, YA-20, was drilled within the inferred mineral resource area. As reported in Zincore's press release dated November 1, 2007, an expanded drill permit is expected in December to enable drilling at Yanque to resume.

The Yanque zinc-lead deposit is hosted mainly within the calcerous and siliceous package of mixed metasediments of the Mara formation. The deposit is located near the contact with a tertiary diorite stock. Lead-rich mineralization occurs at the contact between the sediments and the intrusive with hydrothermal non-sulphide zinc and lead zones extending further from the intrusive. The host rocks dip gently to the east with folding and faulting displacing the mainly stratiform mineralization locally.

Mr. Jauristo added, "We have recently begun work on the 45,000 hectares we control around the two defined deposits, Accha and Yanque. With over a dozen historical showings of zinc mineralization we have many target areas to prospect and prioritize for follow-up and drill testing next year. Accha-Yanque is an emerging and exciting oxide zinc-lead belt with great potential. Zincore's success at Yanque continues to support our strategy of defining and developing a multi-deposit zinc belt that runs from Accha through to Yanque."

Results are drill hole widths and certain holes intersected multiple zones of mineralization. Full results are presented in the attached table. A Yanque drill hole location map and new releases relating to prior Yanque and Accha exploration results are available on Zincore's website at www.zincoremetals.com.



Yanque Drill Hole Results
--------------------------------------------------------------------------
Intersection Drill
along hole
drill hole inter-
------------ section
From To (met
Hole (met- (met- res) Zinc Lead
No. res) res) (1) (%) (%) Comments
--------------------------------------------------------------------------
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-12 27.8 62.8 35.0 2.98 2.13 Exploration hole at
----------------------------------------------- 8430150N and 815336E
including 34.8 44.8 10.0 7.17 3.04
-----------------------------------------------

--------------------------------------------------------------------------
98.0 118.1 20.1 2.64 4.68
--------------------------------------------------------------------------
including 112.1 118.1 6.0 2.27 7.10
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-13 0.0 34.6 34.6 2.24 4.71 Exploration hole at
----------------------------------------------- 8430676N and 815099E
including 0.0 15.0 15.0 3.87 3.94
--------------------------------------------------------------------------
including 25.0 32.4 7.4 0.31 9.80
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-14 0.0 15.0 15.0 3.14 0.98 Exploration hole at
----------------------------------------------- 8430445N and 815124E

--------------------------------------------------------------------------
18.0 32.0 14.0 2.73 0.62
--------------------------------------------------------------------------

--------------------------------------------------------------------------
51.5 61.5 10.0 0.52 8.32
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-15 13.0 36.0 23.0 2.16 0.28 Exploration hole at
8430050N and 815450E
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-16 No significant values Exploration hole at
----------------------------------------------- 8429664N and 815600E

--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-17 0.0 14.0 14.0 4.23 0.71 Exploration hole at
----------------------------------------------- 8430620N and 815062E
including 7.0 12.0 5.0 9.57 1.19
--------------------------------------------------------------------------

--------------------------------------------------------------------------
20.0 35.0 15.0 0.57 5.44
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-18 3.2 14.2 11.0 3.09 1.32 Exploration hole at
----------------------------------------------- 8430621N and 815066E

--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-19 4.0 23.0 19.0 4.35 0.52 Exploration hole at
----------------------------------------------- 8430409N and 815143E

--------------------------------------------------------------------------
33.0 90.5 57.5 0.76 5.33
--------------------------------------------------------------------------
including 48.4 72.2 23.8 0.71 8.39
--------------------------------------------------------------------------
including 76.2 81.3 5.1 0.32 12.05
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-20 2.5 27.5 25.0 11.31 3.81 Infill hole at 8430463N
----------------------------------------------- and 815295E
including 13.5 25.5 12.0 16.15 6.49
--------------------------------------------------------------------------

--------------------------------------------------------------------------
YA-21 No significant values Exploration hole at
----------------------------------------------- 8430000N and 815604E

--------------------------------------------------------------------------
(1)Estimated true width not known


Quality Control

Zincore has implemented a quality control program to ensure best practice in litho geochemical sampling and analysis of rock chips, trench, tunnel and drill core samples.

All drill core samples (approximately one metre, half-core composites) are shipped in security sealed bags via a private trucking company directly to the ALS Peru Laboratories facility in Lima. All samples for the resource drill program are digested using a three acid digestion and analyzed by two packages. Zinc and lead are determined by Atomic Absorption and if the results exceed 30% they are re-assayed by volumetric methods. All samples are also assayed by ICP for 25 elements (also using the three acid digestion for complete dissolution).

The Company submits its own standards and blanks as a measure of the accuracy of the analysis. All pulps and coarse rejects are being recovered and stored. Prior to a new resource calculation, 10% of all samples used in the resource calculation will be re-assayed at a second laboratory using the same analytical techniques described above. Both a re-assay of the pulp and of a new pulp prepared from the coarse reject will be used.

Qualified Person

Vernon Arseneau, P.Geo., Exploration Manager, Peru for Zincore is supervising the exploration program and is the qualified person as defined under National Instrument 43-101 for this news release.

About Zincore

Zincore's strategy is to become a leading, low-cost zinc producer with the immediate objective of advancing its 100% owned Accha-Yanque property toward a development decision through a disciplined process of exploration, drilling and resource definition, and technical studies. Zincore holds a portfolio of other zinc exploration properties in southern Peru and intends to pursue additional zinc opportunities elsewhere in Latin America.

About the Accha-Yanque Project

The Accha-Yanque property consists of 56 concessions over a 30-kilometre distance in southern Peru. At the north end of the property is the Accha deposit and at the south end is the Yanque deposit. A number of zinc prospects with limited prior exploration occur between these two deposits. A total of 56 holes were completed by Cominco Ltd., Savage Resources Ltd. ("Savage"), and Pasminco Limited ("Pasminco") at the Accha deposit for 13,500 metres. Rio Tinto drilled 13 holes totaling 1,320 metres at Yanque.

Savage, and later, Pasminco, which acquired Savage, evaluated Accha between 1998 and 2001. Two historical resource estimates under the AUSIMM JORC standards were calculated for the Accha deposit using differing assumptions. In 2006, based on the historical drilling, a 43-101 compliant inferred mineral resource was calculated at Yanque of approximately 6.6 million tonnes grading 5.3% zinc and 3.5% lead.

Cautionary Note Regarding Mineral Resource Estimates

The qualified person for the Accha-Yanque technical report is L.D.S. Winter, P.Geo., an independent consulting geologist as defined under NI 43-101. Historical mineral resource estimates have not been reconciled to the mineral resource categories of NI 43-101 and sufficient work has not been done to classify these estimates as current mineral resources. For details on the Accha historical mineral resource estimates and the Yanque current mineral resource estimate, see Zincore's prospectus relating to its IPO dated October 26, 2006, which was filed with Canadian securities regulatory authorities and is available on SEDAR (www.sedar.com).

Forward-looking Statements

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 26, 2007 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.

To view the map accompanying this release please click on the following link: http://www.ccnmatthews.com/docs/znc_map.pdf

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