Zephyr Announces Private Placement

Core Viewpoint - Zephyr Minerals Ltd. is initiating a non-brokered private placement financing to raise up to $200,000 by issuing up to 4,000,000 units at a price of $0.05 per unit, which will support its operations and advance permitting for the Dawson Gold project [1][3]. Group 1: Private Placement Details - The private placement will consist of units, each comprising one common share and one common share purchase warrant, with warrants allowing the purchase of additional shares at $0.10 for two years [1]. - Proceeds from the private placement will be allocated for general working capital and to advance permitting on the Dawson Gold project [3]. - Certain insiders of the company are expected to participate in the private placement [3]. Group 2: Dawson Gold Project Updates - Zephyr has completed the first quarter of a groundwater monitoring and analytical program at the Dawson Gold deposit, with the full program expected to conclude by the end of 2026 [2]. - The company plans to resubmit a mining permit application to the Colorado Division of Reclamation, Mining and Safety for its 100%-controlled Dawson Gold property upon receiving all analytical data [2]. - The Dawson Gold Deposit has an inferred mineral resource of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold, with significant exploration potential remaining [6]. Group 3: Regulatory and Market Context - The Zimbabwean Government has appointed a new Minister of Mines, which is viewed positively regarding the granting of two Exclusive Prospecting Orders covering 124,000 hectares applied for in 2021 [3][7]. - The private placement is subject to customary closing conditions, including approval from the TSX Venture Exchange [4].