Zephyr Provides Update

Core Insights - Zephyr Minerals Ltd. has engaged Pinyon Environmental, Inc. to conduct a comprehensive water monitoring program to support the resubmission of a mining permit application for its Dawson Gold Property in Colorado, with monitoring set to begin this month and continue quarterly until December 2026 [1] Company Developments - Ms. Suzan Frazer has retired as corporate secretary after serving since the company's inception in 2010, with Mr. David Felderhof succeeding her [2] Dawson Gold Property Overview - The Dawson Gold Deposit has an Inferred Mineral Resource of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold at a 5 g/t cut-off, and 116,300 ounces at 10.55 g/t with a 40 g/t top cut, with the estimate effective as of July 19, 2013 [3] - A Preliminary Economic Assessment (PEA) from March 21, 2017, indicated robust economics with an all-in sustaining cost (AISC) of $692 per ounce, based on a gold price of $1,250/oz [3] - The project has significant exploration potential, particularly at depth and along the 700-metre-long Sentinel zone, which has not been drill tested [3] - The Dawson project benefits from a small footprint for the proposed underground mine, ownership of necessary lands, a favorable climate for year-round operations, and nearby infrastructure [3] Company Strategy - Zephyr Minerals is focused on obtaining a mining permit for the Dawson Gold property and advancing the project to the next development stage [4] - The company is also awaiting the Zimbabwean Government's decision on two Exclusive Prospecting Orders covering 124,000 hectares, which are prospective for gold and lithium [4]