Program Completed For Resubmission Of Dawson Gold Property Mining Permit Application

HALIFAX – Zephyr Minerals Ltd. has completed a water well drilling program in support of resubmitting a mining permit application to the Colorado Division of Reclamation, Mining and Safety for its Dawson Gold Property in Colorado. The Company has also submitted a tender to conduct a 15-month water monitoring and analytical program, which is expected to commence in late Q4 2025. The Application will be resubmitted upon receipt of the analytical results from the water samples collected in the fifth and final quarter of monitoring.

Following further review, the Company has elected to proceed with an exploratory trenching program at the Judith Patented Placer Claim. The Company anticipates completing the work before the end of Q1 2026, subject to approval of a permit modification. The trenching program will target the gulch that directly drains from the Windy Gulch gold deposit and Windy Point gold showings. The Windy Gulch deposit, in particular, contains significant gold at surface that is eroding downslope into the gulch. Previous bedrock trenching conducted in 2017 at Windy Gulch returned 5.8 grams per tonne (g/t) gold over 31.7 meters, while a trench located approximately 40 meters downslope returned 7.6 g/t gold over 11.9 meters.

The Company is also reviewing its current drillhole database to identify zones of gold mineralization below the 5 g/t cutoff used in the 2017 Preliminary Economic Assessment. 

Loren Komperdo, President & CEO, said, “Given the price of gold currently in the $4,000-per-ounce range, a lower cutoff is warranted in re-evaluating the Dawson Gold Deposit. I am confident that a lower cutoff will have a positive impact on the size of the gold resource at Dawson and demonstrate significant upside for the overall project.”