Zephyr Minerals Ltd. Announces Results of Annual and Special Meeting of Shareholders

Suite 1700, 1959 Upper Water St. · Purdy’s Wharf Tower 1 · Halifax · Nova Scotia · B3J 3N2 · Canada

Trading Symbol: TSX-V: ZFR News Release No. 06-15 Shares Outstanding: 24,295,961 June 1, 2015

NEWS RELEASE

ZEPHYR MINERALS LTD. ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

June 1, 2015 HALIFAX, NOVA SCOTIA – Zephyr Minerals Ltd. ("Zephyr" or the "Corporation") (TSX-V: ZFR) is pleased to announce that at the annual and special meeting of the Corporation’s shareholders held on May 29, 2015, the shareholders re-elected Loren Komperdo, David Felderhof, John Clark, David Grand and Will Felderhof as directors of the Corporation to hold office until their successors are duly elected or appointed. Glenn Williams did not re-offer to serve as a director of the Corporation for the forthcoming year. The Board thanked him for his valued contributions to Zephyr since the Company’s founding in 2010.

In addition, in accordance with the rules and policies of the TSX Venture Exchange, the Corporation’s shareholders re-approved Zephyr’s “rolling” incentive stock option plan. The Corporation’s shareholders also re-appointed Wasserman Ramsey, Chartered Accountants, as the Corporation’s auditor to hold office until the next annual meeting of shareholders or until its successor is duly appointed, and the directors of the Corporation were authorized by shareholders to fix the auditor’s remuneration.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship Dawson Gold Project in Colorado, USA. Dawson is an advanced stage highgrade gold property with excellent blue sky potential. In the fall of 2013, Zephyr announced filing on SEDAR a technical report, prepared in accordance with National Instrument -- Standards of Disclosure for Mineral Projects ("NI 43-101") on Dawson. Zephyr has commenced base line environmental studies as part of its efforts to advance the Dawson Project with the ultimate goal of production, subject in part to a positive economic study which is currently underway.

For further information:

David H. Felderhof, Executive Vice President Zephyr Minerals Ltd.

T: 902 446-4189 F: 866 941-4715

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