ZACAPA RESOURCES TO ATTEND MINES & MONEY IN LONDON AND PROVIDE INVESTOR UPDATE ON RBMG WEBINAR

Zacapa Resources Ltd. (TSXV: ZACA, OTCQB: ZACAF, DE: BH0) ('Zacapa') is pleased to announce that the Company's CEO & Director, Adam Melnik, will be presenting Zacapa's story, including an overview of current operations and upcoming milestones, at Mines & Money London on November 30 and in a webinar with RB Milestone Group on December 8.

Mines & Money London

Adam Melnik, CEO & Director, will share Zacapa's story on Wednesday, November 30 at 13:00 GMT/08:00 EST and participate in the panel discussion 'Successfully combining technology and innovation to meet modern-day exploration challenges' on Tuesday, November 29 at 16:00 GMT/11:00 EST

The Mines & Money London conference on November 29 to December 1, 2022 is held at the Business Design Centre in London. The Mines and Money Conference brings together over 2,000 decision makers, mining leaders, policymakers, investors, innovators, and educators from 75+ countries for three days of learning, deal-making and unparalleled networking.

Mines & Money London Registration

RB Milestone Group Webinar

Adam Melnik, CEO & Director, will have a conversation with Will Maze of RBMG followed by live Q&A on Thursday, December 8 at 11:00 EST/08:00 PST

RB Milestone Group Webinar Registration

Management will be available to answer your questions following the presentation on the webinar platform. You may submit your question(s) beforehand in the registration form or by email at: [e-mail].

Private Placement Finders Fees

Zacapa announces that the non-brokered private placement that closed October 28, 2022 included finders' fees of 6% cash and 6% finders' warrants (the 'warrants') which are exercisable at a price of $0.22 per common share until October 28, 2025.

The following finders' fees were issued:

Beacon Securities Limited $1,800 and 12,000 warrants

Blue Lakes Advisors SA $10,800 and 72,000 warrants

Canaccord Genuity Corp. $17,696 and 117,972 warrants

Eventus Capital Corp. $10,500 and 72,000 warrants

Leede Jones Gable Inc. $900 and 6,000 warrants

Research Capital Corp. $1,800 and 12,000 warrants

About Zacapa Resources

Zacapa is a mineral exploration company engaged in responsible exploration for the new energy economy. Its projects are concentrated in world class jurisdictions in the southwest U.S., including Arizona, Nevada, and Idaho. The portfolio includes porphyry copper projects at Red Top and Pearl and epithermal gold projects at South Bullfrog and Miller Mountain. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development and mine permitting.

For more information, please visit www.zacaparesources.com. All documents are available on Zacapa's profile page on SEDAR at www.sedar.com.

Contact:

Adam Melnik

Chief Executive Officer & Director

T: [phone]

E: [e-mail]

Investor

Michelle Borromeo

Vice President

T: [phone]

E: [e-mail]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Zacapa believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Zacapa cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Zacapa's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Readers are advised to rely on their own evaluation of such uncertainties. Except as required under applicable securities legislation, Zacapa undertakes no obligation to publicly update or revise forward-looking information.

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