Zincore Metals Inc.
TSX : ZNC

Zincore Metals Inc.

September 10, 2008 13:58 ET

Zincore's Major Shareholder Settles Class Actions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Zincore Metals Inc. (TSX:ZNC) ("Zincore" or "the Company") notes that its major shareholder, Southwestern Resources Corp. ("Southwestern"), has announced the settlement of class actions brought against Southwestern in 2007. The settlement places no conditions on Southwestern's 48% shareholding in Zincore.

A copy of the Southwestern news release issued this morning is available on SEDAR or at www.swgold.com.

Zincore President and CEO Timo Jauristo said: "We are pleased to see our significant shareholder settle their class actions while maintaining a strong financial position. The settlement removes the uncertainty that existed around Southwestern's shareholding in Zincore. It enables us to continue to advance our projects with the support of a stable shareholder base and focus on re-building the market recognition of the value of Zincore."

Since the Company's inception in late 2006, Zincore has made significant progress toward developing its 100%-owned Accha-Yanque belt which now contains over 2.3 billion pounds of zinc resources and 1.3 billion pounds of lead resources including:

- At Accha, 5.1 million tonnes of indicated mineral resources grading 8.2% zinc and 0.9% lead and 1.4 million tonnes of inferred mineral resources grading 5.9% zinc and 0.7% lead. With the completion of a positive pre-feasibility study which confirmed the technical and economic viability of the project, a probable mineral reserve of 4.2 million tonnes grading 7.9% zinc and 0.8% lead was defined from the indicated resources (see press release dated May 1, 2008). The deposit remains prospective for further reserve growth through conversion of inferred resources and exploration to the west and down dip where the deposit remains open.

- At Yanque, inferred mineral resources of 10.3 million tonnes grading 5.3% zinc and 5.3% lead were defined earlier this year (see press release dated March 3, 2008). Subsequent to this resource estimate the Company has completed a 25 drill hole program on the deposit which has expanded mineralization principally to the South.

- Exploration of the 45,000 hectare Accha-Yanque belt which has defined 15 earlier stage exploration targets that are being advanced and prioritized in advance of drill testing.

Mr. Jauristo added: "Zincore welcomes the sustained support of Southwestern as the Company builds on its success at Accha-Yanque and continues exploration at its properties in Peru, Chile and Mexico."

About Zincore

Zincore is a Vancouver-based mineral exploration and development company focused on zinc and base metal opportunities in Latin America. The Company's strategy is to become a leading, low-cost zinc producer by rapidly advancing its 100%-owned Accha-Yanque belt toward a development decision. Zincore holds 62,000 hectares of concessions in southern Peru and intends to pursue additional zinc opportunities elsewhere in Latin America. The Company's shares trade on the Toronto Stock Exchange under the symbol ZNC.

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 10, 2008 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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