Vancouver, British Columbia, May 12, 2010 - Canadian Zinc Corporation (TSX: CZN; OTCBB: CZICF)
(the “Company” or “Canadian Zinc”) announces its financial results for the quarter ended March 31, 2010.
This press release should be read in conjunction with the unaudited financial statements and notes thereto for the
period ended March 31, 2010, and management’s discussion & analysis (“MD&A”) for the period ended March
31, 2010 available on SEDAR at www.sedar.com .
Financial Results for Quarter ended March 31, 2010
For the quarter ended March 31, 2010, Canadian Zinc reported net income of $7.239 million compared to a net
loss of $297,000 for the quarter ended March 31, 2009. The net income in 2010 was primarily attributable to
gains on the Company’s marketable securities.
For the quarter ended March 31, 2010, the Company recorded overall gains on its marketable securities of
$8.094 million, compared to $331,000 for the quarter ended March 31, 2009. The primary contribution to the
gain in the quarter ended March 31, 2010, was the increase in the market value of the shares held in Vatukoula
Gold Mines Plc (“VGM”).
As at March 31, 2010, the Company had cash and cash equivalents of $4.956 million, short term investments of
$1.687 million and marketable securities of $23.476 million, for a total of $30.119 million. The Company also
had a positive working capital balance of $29.771 million.
As at December 31, 2009, the Company had cash and cash equivalents of $5.197 million, short term investments
of $2.246 million, marketable securities of $15.382 million and a positive working capital balance of $22.476
FOR IMMEDIATE RELEASE
May 12, 2010
CANADIAN ZINC REPORTS FIRST QUARTER 2010 RESULTS
NET INCOME OF $7.239 MILLION RECORDED
GRANT OF STOCK OPTIONS
The Prairie Creek Mine:
Canadian Zinc’s principal focus is to advance the Prairie Creek Mine, a zinc/lead/silver property located in the