Zazu Metals Clarifies Disclosure on Lik Property

Zazu Metals Corporation (TSX:ZAZ) clarified their disclosure on the 2010 Preliminary Economic Assessment (Scoping) Study, and 2010 Due Diligence Study as a result of a review by the British Columbia Securities Commission.

As quoted in the press release:

2010 Preliminary Economic Assessment (Scoping) Study

The 2010 PEA appears misleading because it includes only the pre-tax economics, NPV and IRR without disclosing the comparative post-tax values, which may substantially overstate the value of the project and, as a result, no reliance may be placed on the economic conclusions of the 2010 PEA.

2010 Due Diligence Study

The 2010 Due Diligence Study was not supported by a technical report prepared in accordance with National Instrument 43-101. As a result, no reliance may be placed on the 2010 Due Diligence Study, and Zazu retracts the 2010 Due Diligence Study in its entirety. The 2010 Due Diligence Study cannot be removed from the AIDEA website as Zazu has no control over that website and it is the practice of AIDEA to file such materials on its website.

Clarification of Other Company Disclosure

Since the publication of the 2010 PEA and the 2010 Due Diligence Study, the Company has relied upon and otherwise made numerous references to the 2010 PEA and the 2010 Due Diligence Study in news releases, the Company’s website and in corporate presentations. The economic results in all such disclosures were not made in accordance with National Instrument 43-101 and may not be relied upon. The Company will not refer to the economic results of the 2010 PEA and the 2010 Due Diligence Study in future disclosures and, as noted above, no reliance should be made on such disclosures.

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