Acquisition of Shares of Vatukoula Gold Mines plc

High-grade Silver, Zinc, and Lead Advanced stage of development Prairie Creek Mine-NWT

Largest Shareholder Vatukoula Gold Mine (680,000 oz Reserves, 4.3 million oz Resource)

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Acquisition of Shares of Vatukoula Gold Mines plc

posted on Apr 10, 2009 03:43AM

April 9, 2009

Canadian Zinc Corporation: Acquisition of Shares of Vatukoula Gold Mines plc

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2009) - Canadian Zinc Corporation (TSX:CZN)(OTCBB:CZICF) announces that it has entered into a private agreement to acquire 347,669,022 ordinary shares (the "Shares") of Vatukoula Gold Mines plc ("VGM") for consideration of Pounds Sterling 2,538,000 (approximately C$4,555,000). The Shares acquired represent approximately 18.25% of the issued share capital of VGM.

Vatukoula Gold Mines plc is a UK company, listed on the Alternative Investment Market ("AIM") of the London Stock Exchange, which currently owns and operates the Vatukoula Gold Mine located in Fiji.

The Vatukoula Gold Mine has an operational history of over 70 years during which time it is reported to have produced some seven million ounces of gold and over two million ounces of silver from the treatment of around 22,500,000 tonnes of ore. The mine has a reported mineral resource of 12.2 million tonnes (Measured and Indicated) at a grade of 9.47 grams per tonne of gold and 4.6 million tonnes (Inferred) at a grade of 10.77 grams per tonne of gold (JORC Reporting Standard Competent Persons Report: March 2008). Production at the mine was suspended by the previous owners in 2006, following which VGM acquired the mine and restarted operations.

The Shares described herein are being acquired for investment purposes. Depending on market and other conditions, Canadian Zinc may from time to time in the future increase or decrease its ownership, control or direction over the Shares or other shares of VGM, through market transactions, private agreements or otherwise.

About Canadian Zinc:

The Company's principal focus is its efforts to advance the Prairie Creek Mine, a zinc/lead/silver property located in the Northwest Territories of Canada, towards production. The Prairie Creek Mine is partially developed with an existing 1,000 tonne per day mill and related infrastructure.

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