Shares Issued	138,455,300
Close 2011-08-02	C$ 0.40

Canada Zinc arranges 6.92-million-share buyback

2011-08-02 19:19 ET - News Release

Mr. Peeyush Varshney reports

CANADA ZINC METALS CORP. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Canada Zinc Metals Corp. has filed a Form 5G with the TSX Venture Exchange and received approval to purchase at market price up to 6,922,765 common shares, being approximately 5 per cent of the company's issued and outstanding common shares, by way of a normal course issuer bid through the facilities of the TSX-V. As of the date hereof, there are 138,455,300 common shares of the company issued and outstanding. The bid will commence on Aug. 1, 2011, and will stay open for 12 months. The company purchased 1,227,000 common shares under its existing normal course issuer bid over the past 12 months.

The company is engaging in a normal course issuer bid because it believes that the market price of its common shares does not properly reflect the underlying value of the company. The purpose of the bid is to reduce dilution of the company's shares and to enhance the potential future value of the common shares which remain outstanding, thus increasing long-term shareholder value. Purchases connected with this bid will conducted through Canaccord Genuity Corp.'s offices in Vancouver. The company will pay the market price of the common shares at the time of acquisition, and will not purchase more than 2 per cent of the total issued and outstanding common shares within any 30-day period.

A copy of the notice may be obtained by any shareholder of the company, without charge, by contacting the company's head office.