Please refer to official RNS announcement (link above) for full details.

The Board of Directors of Zeehan Zinc wish to announce the resignation of Ralph Rossouw from the Board, effective immediately.

The Board of Directors would like to thank Mr Rossouw for his contribution over the past year. The Company's Managing Director, Mr Xiaojian Ren, will assume Mr Rossouw's duties as interim CEO with immediate effect.

Please refer to official RNS announcement (link above) for full details.

The Board is also pleased to announce that existing board member, Mr Xiaojian Ren, has, with immediate effect, been appointed to the executive role of Managing Director.

Please refer to official RNS announcement (link above) for full details.

To view the entire report, download the document below, or visit RNS.

Mr Ren is a founding member and the CEO of Creat Group, an investment house
which has its headquarters in Beijing, China. Creat Group was founded in 1992.
It focuses on the manufacturing, finance, real estate and mining sectors and has
approximately 5,000 employees. Since 2006, Creat Group has looked to increase
its exposure to the natural resources sector, through a series of investments in
overseas resource based companies. As previously announced, Creat Group has
already acquired a shareholding of 9 million shares in ZZL, or 6.2% of the
issued share capital, in addition to entering a convertible loan with the
Company. Creat Group also has interests in a number of mines in China, including
a zinc-lead mine in Liaoning province, northeast China

Mr Ren has considerable banking experience and has spent the majority of his
career working with the Agricultural Bank of China where he focussed on
international operations and foreign exchange transactions. Mr Ren holds a
bachelor's degree in finance and, in 2001, obtained an MBA from La Trobe
University in Australia.

Matters for disclosure under paragraph (g) of Schedule 2 of the AIM Rules with
respect to the appointment of Mr Ren as director of Zeehan Zinc:

Full name: Xiaojian Ren

Age: 50

Mr Ren is, or has been in the 5 years prior to the date of this announcement, a
director or partner in the following companies or partnerships:

Current:

Creat Group Ltd
Shanghai RAAS Blood Products Co, Ltd

Previous:

Henan Ping Gao Electric Co, Ltd
Henan Ping Gao Toshiba High-Voltage Switchgear Co.,Ltd
Yantai North Andre Juice Co, Ltd

There are no further disclosures required to be made pursuant to paragraph (g)
of Schedule 2 of the AIM Rules for Companies.

Resulting from this, Brian Caffyn, who had been acting in an executive capacity, has assumed the role of non-executive director.

Ralph Rossouw has some 20 years experience in the mining and metallurgical sectors. He has led mining operations and filled technical group roles in Australia, South Africa, New Zealand, Canada, Papua New Guinea and Saudi Arabia.

Mr Rossouw has overseen projects, operations, as well as engineering, risk, safety, environment, community and quality disciplines, and previously held positions with BHP Billiton, Samancor Chrome, Ingwe Coal Corporation, Oceana Gold, Saudi Arabian Mining Company (Ma'aden), AngloGold Ashanti (Anglo American), Barrick, Gencor (Gengold), Goldfields, Impala Platinum and Harmony Gold.

Mr Rossouw holds a Bachelor of Science Engineering honors degree from the University of Witwatersand in Johannesburg, is a registered professional / chartered engineer with the Engineering Council of South Africa, Engineers Australia, Engineers New Zealand and is a member of the Australian Institute of Company Directors, a fellow member of the Southern African Institute of Mining and Metallurgy and the Australasian Institute of Mining & Metallurgy

He has received numerous academic and corporate awards including a Mine Managers' Prestige Prize, the SAIMM Prize and a BHP Billiton Award for engineering.

Matters for disclosure under paragraph (g) of Schedule 2 of the AIM Rules with respect to the appointment of Ralph Rossouw as director of Zeehan Zinc:

Full name: Ralph Cyril Rossouw

Age: 38

Ralph Rossouw has not, in the 5 years prior to the date of this announcement, been a director or partner of any company or LLP other than subsidiaries of ZZL.

As of 7 December 2007, the total issued share capital of the Company is 144,976,674 ordinary shares.

The discovery follows an extensive drilling campaign undertaken by the Company during 2007.

The new Boss deposit consists of two lodes - Boss Upper & Boss Lower - located adjacent to Allison's Lode where the Company's initial mining activity has been focused. The mineralisation of the Boss Lodes comprises a flat lying lead/zinc sulphide body ranging in thickness between 5 and 15 metres, approximately 70 metres below surface. The new Inferred Resource estimate is summarised in Table 1 below:

Table 1 Total Boss Inferred Resources

(numbers have been rounded off to reflect the level of accuracy with the estimate)

The Company also announces that new resources have been defined on parts of the Watson's Lode with additional resources estimated for a new zone at the Main Lode, both located adjacent to the Allison's Lode (Table 2).

Table 2 Watson & Main Lode Inferred Resources

Commenting on the new discovery, Ralph Rossouw, CEO of Zeehan Zinc said:

"The Boss Lode is an exciting discovery of a new style of flat lying, stratabound mineralisation at Comstock. The lode is open to west, east and south and extends under the previously known vein lodes of the mine site. It is only 30m below our present pit floor at the Allison's Lode. Our team is currently evaluating the economics of this new deposit and we intend to accelerate our drilling program in order to prove-up its extent.

Combined with the increase in resources at the Watsons and Main Lodes, the new deposit represents an excellent follow on from the Company's drilling program during 2007 and demonstrates the significant potential of our assets."

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The Facts

- The primary crushing circuit at the Comstock Gravity Plant has been commissioned.

- Oceana Resources have been increased from 1.6 million tonnes at 3.7% lead, 1.7% zinc and 21.9ppm silver to 2.1 million tonnes at 5.2% lead, 1.6% zinc and 46.4ppm silver (see additional notes for Zeehan Zinc’s 2006 resource inventory).

- Board and management changes includes the promotion of Ralph Rossouw from Mine Manager to Chief Operating Officer, Michael McIntyre as new Chief Financial Officer replacing the interim CFO, Stuart Lloyd, who retires from this position as well as board member and the retirement of Keith Laing as a board member.

- The application for a new mining lease over the Mariposa deposit.

1.Operations at the Comstock Mine

Zeehan Zinc is pleased to announce that it has commenced mining an independently estimated 6.9 million tonne resource containing silver, lead and zinc reported and compliant to JORC (Joint Ore Reserves Committee) and has started to stockpile ore, which will be crushed and processed to create an international saleable product. Mining production commenced on Wednesday 30th May 2007, with overburden stripping and ore material will be added to the newly established mine stockpiles. On Tuesday 29th May 2007 the Company drilled and fired the first phase and added 3,000 tonnes to the stockpile and this high grade ore will be processed by the plant in the next three weeks.

A volume of high grade ore, consisting of Galena (lead sulphide, containing silver) & Sphalerite (zinc sulphide) will be crushed and mechanically sorted in preparation for further processing and shipping. The directors believe that over 5,000 tonnes of high grade ore may be extracted from Main Lode & Allison’s Lode for processing within the next 90 days, resulting in a saleable product acceptable to the international market. Lead and zinc remain at or near world record prices, as at 29th May 2007 US$2,155 & US$3,605 per tonne respectively (source: London Metal Exchange).

Mr Paul Heath, Senior Geologist said, “Even though we have a relatively small volume of high grade lenses within 300 metres proximity to the Gravity Plant, we are selectively mining these resources to create initial cash flow. These high grade lenses are readily available and economic to mine”.

The commissioning of the primary crushing circuit marks the completion of the first stage of development completion of the Gravity Separation Plant which is expected to be fully operational by the end of June as previously announced.

Community spokesperson, and local sporting personality, David Foster, formally initiated proceedings at a ribbon cutting ceremony on 30th May 2007, the traditional inauguration of the operation of the primary crushing circuit.

Engineering and capital works including the installation of re-furbished jigs and an upgraded water management system will be completed within the next month, in anticipation of pre-concentrate production commencing early in Q3 of 2007.

Ralph Rossouw, the recently appointed Chief Operating Officer, said “I am extremely pleased with the progress we have made towards completing the commissioning of the first phase of the Gravity Plant. Today’s event is an important step towards establishing fully integrated operations. Furthermore the majority of the equipment required for the Floatation plant has now been refurbished and I expect will be delivered to site within the next two months”.

2. Resource Increase at Oceana

Zeehan Zinc announces an update of the Mineral Resources at the Oceana Deposit located near the town of Zeehan, on the West Coast of Tasmania, Australia.

A summary of resource estimates based on a geological assessment of the 2006 drilling results from the Oceana lead-zinc deposit is reported in accordance with the JORC (Joint Ore Reserves Committee) Code (2004). This has been prepared by a Competent Person from independent consultants, Hellman & Schofield Pty Ltd.

The resources at Oceana comprise two main lead-rich deposits:

1. Resource A occurring as a wide body of mineralisation in the north of the prospect (known previously as the potential Open Pit mineralisation) and
2. Resource B occurring as a narrow, lode system to the south, part of which was an operation in the late 1950s when 132,000 tonnes of lead ore at 11% Pb and 132g/t Ag was extracted (potential open pit and underground mineralisation).

The resource tonnage, containing zinc, lead and silver, has increased from 1.6 million tonnes to 2.1 million tonnes (Table 1) and consists of resources potentially accessible by open pit and underground mining methods.

3. New Appointments

Zeehan Zinc announces the promotion of Ralph Rossouw from Mine Manager to the Chief Operating Officer of the Company. Zeehan Zinc also announces the appointment of Michael McIntyre as the new Chief Financial Officer based at the company's Head Office in Hobart, Tasmania, who is a Fellow with CPA Australia, with a strong financial and accounting background. This planned addition to the executive management team enables Stuart Lloyd, Senior Partner of Astims Chartered Accounting Firm (Sydney, NSW), to step down from this position as well as a board member, which he has been holding on an interim basis. The company is very grateful to Mr Lloyd for his valuable contribution during the extremely demanding process of securing its AIM listing.

Mr Keith Laing, aged 71, has announced that he will retire from the Board having played a key role in its development over the past year. Mr Laing is an extremely knowledgeable and experienced engineer who has contributed significantly to the design and installation of key components of the company's plant and infrastructure. As the plant is nearing completion, Mr Laing has completed the major contribution for which his expertise was sought.

The company wishes to thank Stuart Lloyd and Keith Laing for their significant efforts and wishes them well for the future.

4. Mining Lease Application, Mariposa (extended area)

Zeehan Zinc Limited’s wholly owned subsidiary, ZZ Exploration Pty Ltd has applied for a new mining lease 7M/2007 over the Mariposa deposit which extends over a 180 hectare area for category 1 (metallic) and category 3 minerals to mine lead, zinc and silver minerals from open cut workings and under ground. The application is based on a development & mining plan extending over a 10 year mine life based on positive indicative results from recent exploration activities. At present, 513,899 tonnes of Inferred Resources have been estimated and reported to JORC (Joint Ore Reserves Committee) as disclosed within the Competent Persons Report Summary of Reserves and Resources by Status disclosed in the company’s Placing and Admission document dated 27th February 2007 to trading on AIM (Alternative Investment Market).

NOTE: THERE ARE ADDITIONAL NOTES ATTACHED TO THIS DOCUMENT THAT ARE AVAILABLE THROUGH THE DOWNLOADING OF THE PDF

The placing, which was oversubscribed, raised £9 million, giving the Company a market capitalisation on Admission of approximately £26 million. Libertas Capital is acting as nominated adviser and broker to the Company.

The funds raised will be used principally to finalise the development of an integrated zinc, lead and silver mining and processing operation within the Company’s mining tenements in Western Tasmania, Australia, where Zeehan Zinc is targeting future production of ore up to 800,000 tpa. It is expected that commercial production will commence during 2007.

Zeehan Zinc has raised £9 million pre-expenses, through the Placing of 46,153,846 new Ordinary Shares in the Company at 19.5 pence per share, capitalising the Company at approximately £26 million. The transaction was oversubscribed and funds raised will be used principally to finalise the development of an integrated zinc, lead and silver mining and processing operation within the Company’s mining tenements, where Zeehan Zinc is targeting future production of ore up to 800,000 tpa. It is expected that commercial production will commence during 2007. Libertas Capital is acting as nominated adviser and broker to the Company.

The Company’s current JORC compliant resource base has been estimated to be approximately 6.9 million tonnes of ore containing, on average, grades of 4.4% zinc, 3.5% lead and 34 grams/tonne of silver within a 393 ha area covered by the Mining Leases and the Mining Lease application held by the Company. The Directors believe that due to the prospective nature of the Company’s tenements, there is potential for this resource base to be increased substantially through further exploration.

The Company has entered into initial discussions with domestic and international smelters to purchase both concentrates and pre-concentrates once production commences.

John Pollard, Chief Executive, commented:
“We look forward to joining AIM and believe that the proceeds of the IPO will enable the Company to progress towards production this year as much of the infrastructure is already on site. We are also confident of increasing our resource base through further exploration activity which will provide our investors with potentially very attractive upside in the future.”