STOCK SYMBOL: ZAZ

Chairman and CEO: Gil Atzmon

Vice President, Exploration: Joe Britton

Vice President, Business Development: Matthew Ford

Zazu Metals Corp. is exploring what it believes is one of the largest undeveloped zinc-lead deposits in the world.

Lik, the zinc-lead-silver-rich property that the Vancouver B.C.-based junior is lauding, is located about 22 kilometers, or 14 miles, northeast of Red Dog Mine.

Zazu said the high-grade deposit at Lik is an ideal fit in the company's business model of identifying high-quality, low-risk properties in an advanced exploration, or near-development stage.

According to a resource estimate completed by Scott Wilson Roscoe Postle Associates Inc. in 2009, Lik contains an indicated resource of 3.3 billion pounds of zinc, more than 1 billion pounds of lead and 31 million troy ounces of silver.

The deposit contains an additional inferred resource of nearly 1.3 billion pounds of zinc, 500 million pounds of lead and 10 million troy ounces of silver.

Scott Wilson Roscoe Postle Associates Inc. completed a preliminary economic assessment for the Lik South deposit, which contains 16 million tons grading 8.08 percent zinc, 2.57 percent lead and 47.9 grams per metric ton silver.

The PEA envisions a 5,500 ton-per-day mine and mill with an 8 year mine life.

The engineering firm estimated life-of-mine operating costs of US$75 per metric ton.

Their base case assumes metal prices of US$1.00 per pound for zinc, US80 cents per pound for lead and US$16 per ounce for silver.

This demonstrated a pre-tax internal rate of return of 9 percent.

The study identified multiple areas where the project economics could be improved.

JDS Energy and Mining, Inc., mine development specialists with experience in northern climates, has continued to streamline the mine plan as it completes the feasibility study for the Lik deposit, expected by the end of 2010.

Hammering out transportation infrastructure is a key component for a prefeasibility study.

Zazu has signed an agreement with the state-owned Alaska Industrial Development and Export Agency to complete due diligence for transportation infrastructure needed to support a mine at Lik.

Under the agreement with the explorer, AIDEA is evaluating its possible role in financing a spur road connecting the Lik deposit to the Delong Mountain Transportation System, a 52-mile-long haul road and port facility that currently handles the concentrate produced by partners Teck Resources Ltd. and NANA Regional Native Corp. at Red Dog. Zazu will reimburse AIDEA for its cost of conducting prefeasibility activities as part of the evaluation processes. Teck is a 50 percent joint venture partner in the Lik Project. Zazu owns the remaining 50 percent and has the exclusive right to increase its stake to 80 percent by spending US$25 million on the project by 2018.

Cash and short-term deposits: US$1.7 million (at June 30, 2010)

Working capital: US$1.7 million (at June 30, 2010)

Market capitalization: C$6.74 million (at Oct. 12, 2010)

885 Dunsmuir St., Ste. 350 • Vancouver, BC V6C 1N5

Tel: 604-878-9298 • Fax: 604-568-9298

http://www.zazumetals.com