Zephyr Closes Private Placement

Core Viewpoint - Zephyr Minerals Ltd. has successfully closed a non-brokered private placement, raising $260,000 through the issuance of 5,200,000 units, which will be utilized for various project-related activities and general working capital [1][2]. Group 1: Private Placement Details - The private placement consists of units, each comprising one common share and one common share purchase warrant, with warrants priced at $0.10 for a period of 24 months [1]. - The company paid finders' fees of $9,450 in cash and issued 189,000 finders' warrants, which also allow the acquisition of shares under the same terms [3]. - Insiders acquired 900,000 units for $45,000, qualifying as a related party transaction, and the company relied on exemptions from formal valuation and minority shareholder approval requirements [4]. Group 2: Dawson Gold Project Information - The Dawson Gold Deposit has an inferred mineral resource of 343,000 tonnes grading 12.11 g/t, equating to 133,500 ounces of gold at a 5 g/t cut-off [5]. - A Preliminary Economic Assessment (PEA) indicated robust economics with an all-in sustaining cost of $692 per ounce, based on a gold price of $1,250/oz [5]. - The project has significant exploration potential, particularly at depth and along the 700-meter-long Sentinel zone, which remains untested [5]. Group 3: Company Overview - Zephyr Minerals is focused on obtaining a mining permit for its 100% owned Dawson Gold property in Colorado and is awaiting the Zimbabwean Government's decision on two Exclusive Prospecting Orders [6]. - The company has not updated the resource estimate to include results from drilling programs conducted between 2017 and 2020, which may enhance the attractiveness of the Dawson project given the increase in gold prices [5][6].