Mr. David Hodge reports

ZIMTU CAPITAL CORP. ANNOUNCES PRIVATE PLACEMENT

Zimtu Capital Corp. has engaged Secutor Capital Management Corp. and Marquest Capital Markets to act as lead agents in connection with a private placement of flow-through common shares at a price of 32.5 cents per FT share, and units at a price of 30 cents per unit, for aggregate gross proceeds of up to $1-million.

Each unit will consist of one non-flow-through common share and one warrant. One warrant will be exercisable into additional non-flow-through common shares of the company for a period of 24 months from closing at a price of 40 cents per warrant share for the first 18 months from issuance, and 30 cents per warrant share from 19 months to expiry of the warrants.

On closing, the company will grant to the agent an overallotment option to increase the size of the offering by 20 per cent of the units that are purchased under the private placement. The overallotment option is exercisable in whole or in part for a period of 30 days from closing on the same terms as above, solely to cover overallotment. The overallotment option does not apply to the FT shares.

The company will pay to the agent a cash commission of 8 per cent of the gross sales of units and FT shares under the offering, and issue to the agent 8 per cent of the number of units and FT shares sold in agents' options, with each agent's option being exercisable into warrant shares at the same terms of the warrants, entitling the agents to subscribe for that number of units of the issuer as is equal to 8 per cent of the total number of flow-through shares and units issued pursuant to the offering, and exercisable at the respective issue prices.

All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the acceptance of the TSX Venture Exchange.

The proceeds of the offering will be used for exploration and development of resource properties in the case of the FT shares, and general working capital in the case of the units.

We seek Safe Harbor.