Zephyr Minerals Ltd. announced a non-brokered private placement of up to 4,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 200,000 on May 28, 2024. Each Unit consists of one common share and one whole common share purchase warrant. Each Warrant will be exercisable to purchase one common share of the company for CAD 0.08 for a period of thirty-six months from the closing date.

In connection with the Offering, a finder?s fee may be paid consisting of a cash commission equal to 7% of the gross proceeds raised under the offering and that number of non transferable finder?s fee warrants as is equal to 7% of the number of shares. Each finder?s fee warrant will be exercisable into one common share of the company at CAD 0.08 per share, for a period of thirty-six months from the closing date. All finder?s fees will be subject to and in accordance with the TSX Venture Exchange and regulatory policies.

The Offering is expected to close on or about May 31, 2024. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the TSX Venture Exchange. All securities to be issued pursuant to the Offering will be subject to a four month hold period.