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Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) ("the Company" or "Canadian
Zinc") is pleased to announce it has filed a final prospectus in connection with
the previously announced $15 million bought deal public offering and that a
receipt has been issued by the British Columbia Securities Commission. 


As announced on July 9, 2014, the Company has entered into an agreement with
Dundee Securities Ltd., on behalf of a syndicate of underwriters including
Canaccord Genuity and Paradigm Capital (together, the "Underwriters"), to
purchase on a "bought deal" basis by way of short form prospectus, 13,160,000
flow-through common shares of the Company ("Flow-Through Shares") and 28,572,000
units of the Company ("Units") subject to all required regulatory approvals at a
price per Flow-Through Share of $0.38 for gross proceeds of $5,000,800 and at a
price per Unit of $0.35 for gross proceeds of $10,000,200 (the "Offering").


Each Unit shall consist of one common share of the Company ("Share") and
one-half of one common share purchase warrant ("Warrant"). Each whole Warrant
shall entitle the holder thereof to acquire one Share at a price of $0.50 for a
period of 36 months following the Closing Date.


The Offering is scheduled to close on or about July 31, 2014 (the "Closing Date"). 

Closing of the Offering is subject to a number of conditions, including, without
limitation, receipt of all necessary approvals, including the approval of the
Toronto Stock Exchange.


The Underwriters have been granted an option to purchase up to an additional 15%
of the Offering, exercisable in whole or in part at any time up to 30 days
following the Closing Date.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy nor shall there be any sale of any of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or the
securities laws of any state of the United States and may not be offered or sold
within the United States or to or for the account or benefit of a U.S. Person or
a person in the United States (as such terms are defined in Regulation S under
the U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption from such
registration requirements.


About Canadian Zinc

Canadian Zinc is a TSX-listed exploration and development company trading under
the symbol "CZN". The Company's key project is the 100%-owned Prairie Creek
Project, a fully permitted, advanced-staged zinc-lead-silver property, located
in the Northwest Territories.


The Prairie Creek Project contains a Mineral Reserve of 5.2 million tonnes
averaging 9.4% zinc, 9.5% lead and 151 g/t silver. In addition, Prairie Creek
hosts an Inferred Resource of 6.2 million tonnes averaging 14.5% zinc, 11.5%
lead, 0.57% copper and 229 g/t silver. (AMC Mining Consultants (Canada) Ltd. J M
Shannon and D Nussipakynova, Qualified Persons, June 2012, (revised July 23,
2014). 


A Preliminary Feasibility Study was completed by SNC-Lavalin in July 2012.
Prairie Creek is an underground operation that will utilize multiple mining
methods to access readily available ore. Canadian Zinc has the majority of
infrastructure in place including a 1,000 tonne per day mill, five kilometres of
underground workings and related equipment, a heavy duty and light duty surface
fleet, three exploration diamond drills and a 1,000 m airstrip.


Canadian Zinc also owns an extensive land package in central Newfoundland that
it is exploring for Cu-Pb-Zn-Ag-Au deposits. Key projects include the South
Tally Pond project (Lemarchant deposit), the Tulks South project
(Boomerang-Domino deposit) and Long Lake project (Long Lake deposit). The
Company's strategy is to continue build the zinc-copper-lead-silver-gold
resources base with the aim of developing the deposits capable of processing
through a central milling facility.


Qualified Person

Alan Taylor, P.Geo., Vice President of Exploration, Chief Operating Officer and
Director of the Company, who is a Non-Independent Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has
prepared, supervised the preparation of, or reviewed, parts of this press
release that are of a scientific or technical nature.


Cautionary Statement - Forward-Looking Information

This press release contains certain forward-looking information and
forward-looking statements within the meaning of applicable Canadian and United
States securities laws, including, among other things, the expected completion
of acquisitions and the advancement of mineral properties and the timing for
closing of the offering. This forward looking information includes, or may be
based upon, estimates, forecasts, and statements as to management's expectations
with respect to, among other things, the completion of transactions, the issue
of permits, the size and quality of mineral resources, future trends for the
company, progress in development of mineral properties, future production and
sales volumes, capital costs, mine production costs, demand and market outlook
for metals, future metal prices and treatment and refining charges, the outcome
of legal proceedings, the timing of exploration, development and mining
activities, acquisition of shares in other companies and the financial results
of the company. There can be no assurances that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Mineral resources that are not mineral reserves
do not have demonstrated economic viability. Inferred mineral resources are
considered too speculative geologically to have economic considerations applied
to them that would enable them to be categorized as mineral reserves. There is
no certainty that mineral resources will be converted into mineral reserves. Any
forward-looking statements are made as of the date of this press release and the
Company does not undertake to update any forward-looking statements that may be
made from time to time by or on behalf of the Company other than as required by
applicable securities laws. 


Cautionary Note to United States Investors 

The United States Securities and Exchange Commission ("SEC") permits U.S. mining
companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce. We use
certain terms in this press release, such as "measured," "indicated," and
"inferred" "resources," which the SEC guidelines prohibit U.S. registered
companies from including in their filings with the SEC. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
John F. Kearney
Chairman
(416) 362-6686
220 Bay Street, Suite 700
Toronto, ON M5J 2W4
Fax: (416) 368-5344


Alan B. Taylor
Vice President Exploration & Chief Operating Officer
(604) 688-2001
Suite 1710 - 650 West Georgia Street, Vancouver, BC V6B 4N9
Fax: (604) 688-2043
Tollfree: 1-866-688-2001


Steve Dawson
Vice President Corporate Development
(416) 203-1418
220 Bay Street, Suite 700
Toronto, ON M5J 2W4
Fax: (416) 368-5344


Canadian Zinc Corporation
E-mail: invest@canadianzinc.com
Website: www.canadianzinc.com

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