Zincore Completes Fully-Subscribed Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2011) -

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Zincore Metals Inc. (TSX:ZNC)(BVLAC:ZNC) ("Zincore" or the "Company") is pleased to announce that it has completed a fully subscribed brokered private placement of units for aggregate gross proceeds of C$6.4 million (the "Offering"). The units were priced at C$0.28 per unit and comprised one common share and one-half common share purchase warrant. The warrants are non-transferable and each whole warrant will entitle the holder to purchase one common share at a price of C$0.40 for up to 36 months. Dundee Securities Ltd. acted as the sole agent on this financing.

The common shares issued with respect to the Offering are subject to a four month hold period in accordance with Canadian securities laws. The net proceeds of the Offering will be used to fund further exploration and development of Zincore's mineral properties in Peru and for general corporate purposes.

Participation by insiders of the Company in the Offering, which participation was approved by the independent directors of the Company, is on the same terms as the arm's length investors.

About Zincore

Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in the Americas, namely Peru, Mexico and Canada. The Company's common shares trade on both the Toronto and Lima Stock Exchanges under the symbol ZNC. For more information, please see our website at www.zincoremetals.com.

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 18, 2011 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.