Vancouver, British Columbia, Canada – Wednesday, December 2, 2015 – Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce new assays results have been received for drill holes A-15-130 and A-15-131 which focused on expanding the current indicated resource as well as the known extents of the high-grade zinc-lead-silver system in the central core of the Cardiac Creek deposit on the Akie property.

The Company owns 100% of eleven, large, contiguous property blocks that comprise the Akie and Kechika Regional projects. The Company’s flagship Akie Project is host to the Cardiac Creek deposit. The Kechika Regional Project includes the Pie, Yuen, Cirque East and Mt. Alcock properties extending northwest from the Akie property for approximately 140 kilometres along the strike of the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.

2015 Drill Assay Results

The 2015 Akie drill program was concluded in late September with a total of 5,350 metres drilled in eight drill holes. All results have now been received. Previous results were released on September 2, 2015, October 22, 2015 and November 12, 2015 and are summarized in the table below. Drill hole A-15-128 and A-15-129 were both abandoned at shallow depths due to excessive down-hole deviation and successfully completed as drill hole A-15-130.

A-15-130

This hole tested the dip extents of the high grade core with a targeted pierce point located approximately 75 metres down-dip of drill hole A-07-43.

The hole collared into Gunsteel Formation shale encountering several intervals of distal facies mineralization down to a depth of 570.53 metres. Proximal facies mineralization was encountered from 570.53 to 601.00 metres and is characterized by thickly bedded, fine grained pyrite interbedded with nodular barite and thin bands of fine grained sphalerite. The Cardiac Creek Zone extends from 601.00 to 626.38 metres and is characterized by fine grained sphalerite interbedded with mottled textured sphalerite-quartz-carbonate-galena and fine grained, laminar pyrite. Galena mineralisation is concentrated within the bands of mottled sulphides and disseminated proximal to them. Sphalerite banding generally increases in frequency and thickness towards the bottom of the zone. A shale interbed from 626.38 to 637.43 metres separates the Cardiac Creek Zone from the Footwall Zone. The Footwall Zone from 637.43 to 649.72 metres has abundant sphalerite mineralisation of similar character to the Cardiac Creek Zone but it decreases in frequency downhole while laminar pyrite mineralisation increases. The hole ended in calcareous siltstone of the Road River Group at 690.08 metres.

Drill hole A-15-130 contains an extensive envelope of mineralisation present from 596.59 to 649.72 metres grading 4.12% combined Zn+Pb and 7.01 g/t Ag over a true width of 34.03 metres. This envelope contains the Cardiac Creek Zone from 601.00 to 625.75 metres which returned 6.77% combined Zn+Pb and 10.51 g/t Ag over a true width of 15.82 metres. Higher grade intervals include 8.35% combined Zn+Pb and 12.84 g/t Ag over a true width of 12.15 metres from 606.75 to 625.75 metres. The Footwall Zone from 637.43 to 649.72 metres returned 3.32% combined Zn+Pb and 6.76 g/t Ag over a true width of 7.91 metres, and included a higher grade interval of 10.48% combined Zn+Pb and 15.41 g/t Ag over a true width interval of 1.79 metres from 637.43 to 640.22 metres.

A-15-131

Drill hole A-15-131 targeted the up-dip extension of the high grade core by infilling between holes A-14-114, A-08-58, A-08-54, A-94-11 and A-08-57, with an average separation from each of approximately 75 metres.

The hole collared into Gunsteel Formation shale and several repetitive, thick intervals of distal facies mineralization and interbedded shale before encountering the Cardiac Creek Zone. Proximal facies mineralisation was not present in this hole. The Cardiac Creek Zone was intersected from 266.16 to 288.36 metres and represented by thick beds of laminar-bedded sulphide mineralisation. High grade sections are comprised of fine grained sphalerite banding and mottled textured sphalerite-quartz-carbonate-galena bands. The Cardiac Creek Zone is underlain by sulphides intercalated with thick beds of massive barite from 288.36 to 297.00 metres. A small interval of debris flow occurs just above the Road River contact and the hole was finished at 322.17 metres in Road River Group siltstone.

The Cardiac Creek Zone returned 6.64% combined Zn+Pb and 10.89 g/t Ag over a true width of 21.17 metres from 266.00 to 289.53 metres. This includes higher grade intervals such as 9.83% combined Zn+Pb and 16.00 g/t Ag over a true width of 9.74 metres and 10.79% combined Zn + Pb and 15.46 g/t  Ag over a true width of 6.91 metres.

The results from A-15-130 and A-15-131 are tabulated below.

(*) The true width is calculated from orientation of the mineralised horizon which is estimated to have an azimuth of 130 degrees and a dip of -70 degrees. (†) Previously reported 2015 results. (HW) = Hangingwall Zone, (CCZ) = Cardiac Creek Zone, (FW) = Footwall Zone, (MS) = Massive Sulphide.

Previously released 2015 drill holes are tabulated below. Updated maps and cross-sections can be found on the Company website following the link: http://canadazincmetals.com/projects/akie/

(*) The true width is calculated from orientation of the mineralised horizon which is estimated to have an azimuth of 130 degrees and a dip of -70 degrees. (†) Previously reported 2015 results. (FW) = Footwall Zone, (MS) = Massive Sulphide.

Peeyush Varshney, President and CEO of the Company, commented, "The 2015 drilling has expanded the known limits of the high-grade core in the down-dip direction by approximately 75 to 100 metres. Excellent results such as 17.06% combined Zn+Pb over 12.98 metres in A-15-121 and 17.20% combined Zn+Pb over 11.09 metres in A-15-124 were highlights of the drill program. Furthermore, drill holes A-15-124, A-15-127 and A-15-130 have demonstrated that the deposit is still open at depth and  warrants additional down-dip drilling. Overall we are very pleased with the success of the 2015 Akie drilling and continue to see the opportunity for expansion of the deposit, something we will focus on as we update the geological and resource models and plan for the next step in definition drilling.”

QA/QC

Canada Zinc Metals has implemented a rigorous quality assurance/quality control program at the Akie property using best industry practices. All drill core is logged for geology, structure, veining, alteration, mineralisation, and RQD. Sections of sulphide mineralisation are marked for sampling by a geologist and a series of standards, duplicates and blanks are inserted into the sample stream for QA/QC purposes. Prior to the cutting of samples, all core boxes are photographed for due diligence and record keeping purposes. The samples are split by a diamond saw, tagged and bagged and forwarded to Acme Labs (a Bureau Veritas Group Company) of Vancouver, BC, for analysis. Documentation recording the chain of custody is kept for each shipment.

Assays for zinc, lead and silver are obtained using Acme Labs AQ270 analytical package with sample digestion using aqua regia solution followed by ICP-ES and ICP-MS analyses. Barium content is determined by Acme Labs LF300 analytical package using LiBO2/LiB4O7 fusion and ACS grade nitric acid followed by ICP-ES analysis. Over limit values of lead and zinc are rerun using Bureau Veritas AQ371 analytical package using a hot aqua regia solution followed by ICP-ES analyses. Check assays on drill pulps are routinely conducted by ALS Minerals of North Vancouver, BC with their OG46 analytical package using aqua regia digestion and ICP-ES analysis. All remaining drill core is securely stored at the Akie exploration camp.

The Akie Zn-Pb-Ag Project

The Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.

Drilling on the Akie property by Canada Zinc Metals since 2005 has identified a significant body of baritic-zinc-lead-silver SEDEX mineralisation known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.

The Company has outlined a NI 43-101 compliant mineral resource at Cardiac Creek, including an indicated resource of 12.7 million tonnes grading 8.4% zinc, 1.7% lead and 13.7 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 16.3 million tonnes grading 7.4% zinc, 1.3% lead and 11.6 g/t silver (at a 5% zinc cut-off grade). 

Ken MacDonald P.Geo., Vice President of Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS

CANADA ZINC METALS CORP.

“PEEYUSH VARSHNEY”
                                                           
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN