Mr. John Kearney reports

CANADIAN ZINC ANNOUNCES CLOSING OF $10,200,000 FINANCING

Canadian Zinc Corp. has closed its previously announced underwritten public offering of common shares and flow-through shares through a syndicate of underwriters co-led by Paradigm Capital Inc. and Canaccord Genuity Corp., and including Dundee Securities Ltd., and the underwriters have exercised their overallotment option in full.

The company issued 34,135,000 common shares at a price of 25 cents per common share (which includes 2,135,000 common shares issued pursuant to the overallotment option) for gross proceeds of $8,533,750 and 6,665,000 flow-through shares at a price of 25 cents per flow-through share (which includes 2,665,000 flow-through shares issued pursuant to the overallotment option) for gross proceeds of $1,666,250.

In total, the gross proceeds of the offering amount to $10.2-million.

The net proceeds from the sale of common shares will be used to finance 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.

Following completion of the offering, Canadian Zinc has 258,847,709 common shares issued and outstanding.

We seek Safe Harbor.