NEW YORK , Oct. 1, 2012 /PRNewswire/ -- TurkPower Corporation ( TRKP ) (the "Company") announced today that it has issued the first tranche of shares to Ouro do Brasil Holdings ("OBH") and IMS Engenharia Mineral Ltda. ("IMS") shareholders according to the Binding Agreement signed August 14, 2012 between the Company, OBH and IMS.

The Company also announced that $2,328,661.20 of its outstanding debt has been converted into common shares at $0.10 , resulting in new issuance of common shares of 23,286,612. The Company expects more of its debt to be converted in the near future.

About TurkPower Corporation / Zinco do Brasil, Inc.

TurkPower Corporation is a publicly listed company (Ticker: TRKP) in the process of changing its name to Zinco do Brasil, Inc. The Company recently acquired 99.9% of Zinco do Brasil Mineracao Ltda., which owns 30 mineral rights for a total of 44,665 hectares in the Brazilian state of Minas Gerais. The mineral rights are split between two projects: "Salobro", which consists of 2 mining rights for an area of 1,685 hectares; and "Gorutuba" with 28 mining rights for an area of 42,980 hectares.

TurkPower has mining interests in Russia as well as a minority interest in the Kuluncak mine, an iron ore mine in Turkey formerly owned by Exxaro. TurkPower is currently in the process of evaluating its options and defining its strategy regarding its asset in Russia and Turkey .