TSXgroup

December 17, 2007

Zazu Metals Corporation (the “Company”) - An application has been granted for the original listing in the Mining category of up to 42,133,886 common shares and up to 3,285,714 common share purchase warrants (the “Warrants”) of the Company, of which up to 11,065,857 common shares and up to 2,857,143 Warrants will be issued and outstanding, and up to 31,068,029 common shares and up to 428,571 Warrants will be reserved for issuance upon completion of a public offering (the “Offering”).

Listing of the common shares and Warrants will become effective at 5:01 p.m. on Tuesday, December 18, 2007 in anticipation of the closing of the Offering on Wednesday, December 19, 2007. The common shares and the Warrants, other than those which have not been distributed to the public, will be posted for trading at the opening on Wednesday, December 19, 2007.

The Company is subject to the reporting requirements of Section 501 of the TSX Company Manual.

Additional information on the common shares and Warrants may be found in the Company’s prospectus dated December 12, 2007 (the “Prospectus”) which is available at: www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the final Prospectus.

Common Shares:
Stock Symbol: “ZAZ”
CUSIP: 989197 10 8
Trading Currency: CDN

Warrants:
Stock Symbol: “ZAZ.WT”
CUSIP: 989197 11 6
Trading Currency: CDN

Temporary Market Maker: Research Capital Corporation

Other Markets: N/A

Head Office Address:
120 Adelaide Street West
Suite 2500
Toronto, Ontario
M5H 1T1

Email Address: dhp@petelaw.com

Head Office Telephone Number: (416) 777-6772

Fax Number: (416) 352-5693

Investors Relations:
Michael A. Steeves
Chief Operating Officer
Tel: (604) 638-3941
Email: masteeves@zazumetal.com

Chief Financial Officer: Ralf O. Langner

Corporate Secretary: Mark L. Greenwald

Incorporation: The Company was incorporated under the Canada Business Corporations Act on November 29, 2006.

Fiscal Year End: December 31

Nature of Business: The Company is a Canadian-based exploration company established to acquire an interest in a zinc, lead and silver exploration property, known as the LIK property, located in Alaska, and is focused on developing and bringing the property into production. The Company currently holds a 50% interest in the LIK property through its wholly-owned subsidiary, Zazu Metals (Alaska) Corporation, and has the right to earn up to a further 30% interest in such property.

Transfer Agent & Registrar: Olympia Transfer Services Inc. at its principal office in Toronto, Ontario.

Dividends: The Company does not anticipate paying dividends in the foreseeable future.

Public Offering: Pursuant to the terms of the Prospectus, up to 5,714,286 units (the “Units”) are being offered to the public at a price of $1.75 per Unit by Raymond James Ltd., Dundee Securities Corporation, Paradigm Capital Inc., Cormark Securities Inc. and MGI Securities Inc., as agents. Each Unit consists of one common share and half Warrant. In addition, the agents have been granted an over-allotment option to purchase up to 15% of the number of Units sold pursuant to the Offering. The Units will separate immediately on closing of the offering.

Warrants: Each Warrant will entitle the holder to purchase one common share at a price of $2.25 per share for a period of five years from the date of closing of the Offering. The Warrants will be governed by the terms of a warrant indenture dated December 19, 2007 between the Company and Olympia Transfer Services Inc.