Yukon Zinc Corporation is pleased to announce that the Yukon Water Board has granted a Type 'A' Water Licence for the Company's Wolverine Project. The Water Licence was signed into effect by the Premier of the Yukon, the Honorable Mr. Dennis Fentie on October 3, 2007.

The Licence sets out the conditions for the use of water during construction and operations at the Wolverine Project and the deposit of waste into water as required for the tailings facility. The Licence extends to the end of 2027, thereby incorporating all phases of development, operation and closure of the Wolverine Project.

The Company acknowledges the cooperative efforts of all parties (Yukon Government, Environment Canada, Ross River Dena Council and Liard First Nations, and the Yukon Conservation Society) during the environmental assessment review process and the Yukon Water Board public hearing. The cooperation of all parties ensured that the Wolverine Project was thoroughly and efficiently assessed with respect to environmental and socioeconomic issues, and led to the issuance of approvals in a timely manner. With both the Quartz Mining Licence and Type A Water Licence in place, development and operation of a mine at the Wolverine Project can now proceed.

Yukon Zinc Corporation has received its Quartz Mining License for development of the Wolverine Project in south central Yukon. The Quartz Mining License is issued under the Quartz Mining Act and authorized by the Hon. Archie Lang, Minister of Energy, Mines and Resources. The issuance of the Quartz Mining License follows completion by the Responsible Authorities of the Environmental Assessment Screening Report (pursuant to the Environmental Assessment Act) with a determination that, taking into account the implementation of mitigation measures and follow-up, the project is not likely to cause significant adverse environmental effects.