Zinc

[Lone Clone]

Zincore Options Antelope Zinc Oxide Property in Nevada
Tuesday July 31, 8:00 am ET

http://ca.us.biz.yahoo.com/iw/070731/0284403.html

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 31, 2007 -- Zincore Metals Inc. (Toronto:ZNC.TO - News) ("Zincore" or "the Company") has signed a binding letter of intent ("LOI") with AuEx Ventures, Inc. ("AuEx"), a Nevada-based exploration company, to earn up to 70% of AuEx's Antelope zinc oxide property in Nye County, Nevada. Under the terms of the LOI, Zincore has been granted the option to earn a 51% undivided interest in the Antelope project by completing $1 million in exploration expenditures within four years. Upon completing the initial earn-in, Zincore has the option to earn an additional 19% undivided interest in the property, for a total 70% interest, by funding all expenditures necessary to complete a feasibility study. Under the terms of the LOI, Zincore is committed to making a US$10,000 payment to AuEx upon signing of the definitive agreement and incurring US$50,000 in exploration costs within 12 months. Any further expenditure is at Zincore's election.

The Antelope property is an early stage zinc oxide prospect discovered by AuEx in 2006. A series of small prospect pits over an approximately 250-metre window of outcropping Paleozoic limestone show high-grade mineralization containing up to 36% zinc with minor lead. Zincore intends to complete further fieldwork to define and drill test targets within its committed spending and time requirements.

About Zincore

Zincore's strategy is to become a leading, low-cost zinc producer with the immediate objective of advancing its 100% owned Accha-Yanque property toward a development decision through a disciplined process of exploration, drilling and resource definition, and technical studies. Zincore holds a portfolio of other zinc exploration properties in southern Peru and intends to pursue additional zinc opportunities elsewhere in Latin America and China.

Forward-looking Statements

Statements in this release that are forward looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 26, 2007 which is filed with Canadian securities regulatory authorities and available on SEDAR (www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Zincore does not assume the obligation to update any forward-looking statements.


Contact:

Contacts:
Zincore Metals Inc.
Meghan Brown
Manager, Investor Relations
[phone] or [phone]
[phone] (FAX)
Email: [e-mail]

Zincore Metals Inc.
Greg Martin
Vice President and CFO
[phone]
[phone] (FAX)
Email: [e-mail]
Website: http://www.zincoremetals.com


Source: Zincore Metals Inc.