Norzinc Ltd. (NORZF)

[NYBob]

CANADIAN ZINC CLOSES $4 MILLION SECOND TRANCHE OF ZHONGRUN PRIVATE PLACEMENT -
PRAIRIE CREEK PERMITTING PROCESS UNDERWAY
Vancouver, British Columbia, February 10, 2012 –

Canadian Zinc Corporation -

http://www.canadianzinc.com/docs/NR021012.pdf

(TSX: CZN; OTCQB: CZICF) (the “Company” or “Canadian Zinc”) is pleased to announce that, following
receipt of regulatory approval, it has closed the second and final tranche of the previously
announced non-brokered private placement with Zhongrun International Mining Co. Ltd.,
consisting of an additional 6,000,000 units (“Units”) at $0.67 per Unit for gross proceeds of
$4,020,000.

On December 30, 2011, Canadian Zinc closed the first tranche of the Zhongrun private
placement of 9,000,000 units at $0.67 per unit for gross proceeds of $6,030,000.
Each Unit consists of one common share and one-half of one common share purchase warrant.
Each whole warrant will entitle the holder to purchase one common share of the Company at an
exercise price of $0.90 per common share for a period of 24 months from the date of issuance.

In connection with the Zhongrun financings the Company paid a finder’s fee of $502,500 to an
arm’s length intermediary.

Closing of the second tranche of the Zhongrun financing brings the total gross proceeds raised
from the recent financings to $17.6 million.

On December 30, 2011, Canadian Zinc closed a
private placement of 3,275,000 flow-through shares at $0.75 per share for gross proceeds of
$2,456,250 and on January 6, 2012 Canadian Zinc closed a bought deal public offering of
7,610,000 units at $0.67 per unit for gross proceeds of $5,098,700.

Permitting Process Underway at Mackenzie Valley Land and Water Board
On December 8, 2011, the Mackenzie Valley Environmental Impact Review Board (“Review
Board”) issued its Report of Environmental Assessment and Reasons for Decision for the
Company’s proposed Prairie Creek Mine and submitted the Report and Decision to the Federal
Minister of Aboriginal Affairs and Northern Development.

The Review Board concluded that the
proposed development of the Prairie Creek Mine is not likely to have any significant adverse
impacts on the environment or to be a cause for significant public concern.

The Review Board
concluded that an environmental impact review of this proposed development is not necessary
and that the Prairie Creek Mine project should proceed to the regulatory phase for approvals by
the Mackenzie Valley Land and Water Board (“Water Board”). 2
The Company has been advised by the Water Board that

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