Mr. John Kearney reports

CANADIAN ZINC ANNOUNCES PUBLIC EQUITY OFFERING

Canadian Zinc Corp. has filed a preliminary short-form prospectus in connection with an overnight marketed public offering of common shares and flow-through common shares of the company. The offering will be conducted through a syndicate of underwriters led by Paradigm Capital Inc. and Canaccord Genuity Corp., and including Dundee Securities Ltd. The pricing and number of offered securities will be determined in the course of marketing.

The company will also grant the underwriters an overallotment option to purchase at the offering price up to that number of additional common shares and flow-through shares equal to 15 per cent of the offered securities sold pursuant to the offering, exercisable at any time up to 30 days after the closing date of the offering.

The net proceeds from the sale of common shares will be used to finance definitive feasibility and development programs for the Prairie Creek project, exploration programs at both the Prairie Creek project and the company's Newfoundland properties, as well as for general working capital purposes.

The gross proceeds from the sale of flow-through shares will be used to incur eligible Canadian exploration expenses and flow-through mining expenditures, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than Dec. 31, 2016. The funds are intended to be used to finance exploration programs on the Prairie Creek project and the company's Newfoundland properties.

The offering is scheduled to close on or about July 7, 2016, and is subject to receipt of all necessary regulatory approvals, including, but not limited to, the approval of the Toronto Stock Exchange. Until such time as an underwriting agreement is entered into, the underwriters are under no obligation to underwrite, sell or purchase any securities of the company, or to enter into any such transaction. The offering is being made pursuant to a short-form prospectus filed in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and New Brunswick. The offered securities will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

We seek Safe Harbor.