Zodiac Gold Announces Commencement of Trading and Introduces Executive Team & Exploration Plans
Zodiac Gold Announces Commencement of Trading and Introduces Executive Team &
Exploration Plans
Toronto, ON , January 30, 2024 - Zodiac Gold Inc. (“ Zodiac Gold ” or the “ Company ”) is pleased to
announce that the Company has commence d trading on the TSX Venture Exchange under the symbol
TSX - V:ZAU. Zodiac Gold is also pleased to introduce the Company’s executive team and upcoming
exploration plans.
Company Overview:
Zodiac Gold is at the forefront of gold exploration in West Africa , showcasing significant exploration
potential at its 100% owned Todi P roject , located in the Republic of Liberia. The Todi P roject
encompasses a 2, 3 1 6 km 2 land package that includes geology and structures known to host gold
mineralization , situated in a previously underexplored region of West Africa. Management lives and
operates on the ground in Liberia with 24 years of West African e xperience. The C ompany has s trong
government and political knowhow and there is a significant U.S. Government presence in Liberia .
Key Highlights:
District - Scale Discovery : 2, 3 1 6 km 2 land package along the fertile Todi Shear Zone including
the 418 km 2 Todi flagship property and one r econnaissance l icense covering an additional 1 , 898
km 2 .
Proximity to Existing Mines : Strategically located 20 km SE of Avesoro Resource s ’ New Liberty
g old m ine ( 1.74 M oz resource ) and 30 km from the Ndablama gold mine ( 0.9 M oz resource). 1
Early Exploration Success and Ongoing Initiatives : Phase 1 Scout Drill Programs at Arthington
and Alasala targets have intersected multiple wide zones of high - grade mineralization in 4 0 of
47 holes drilled to date , highlighting the potential for the discovery of new gold deposits . A Phase
2 D rill ing Program is underway at Arthington with results expected in Q1 2024 . A more
comprehensive drilling campaign ( up to 10,000m) is expected to follow in 2024 subject to the
Company securing additional financing .
Infrastructure Advantage : Well - e stablished local and regional infrastructure with year - round
road access, drilling and exploration camp facilities, and close proximity to airports and seaports.
Experienced Leadership : A talented, discovery - driven, and capital market savvy management
team led by President & CEO David Kol (14 years of West African experience) , supported by
highly accomplished Board members and strategic advisors including Renaud Adams ( CEO of
IAMGOLD ) , Doug Cater, Graham Warren, and Mike Demeter.
1 Mineral Resource and Mineral Reserve Update for the New Liberty Gold Mine, Liberia dated April 1, 2019
prepared by CSA Global Mining Industry Consultants. Available at hƩps://avesoro.com/technical - reports .
The Todi Project :
The Todi Project is the cornerstone of Zodiac Gold's exploration endeavors in the prolific Todi Shear
Zone of Central Liberia. Positioned within the West African Craton , one of the world’s great g old
provinces and the largest Paleoproterozoic gold - producing region hosting numerous world - class gold
deposits with a n estimated gold endowment of over 450 Moz 2 , Zodiac Gold believes that the Todi Project
offers a compelling investment proposition.
The Todi P roject contains numerous prospects, targets and anomalies distributed throughout the land
package. These include conceptual geology targets based on known settings of existing g reenstone b elts,
cross cutting shear zones, coherent gold in soil anomalies, stream sediment geochemistry and geophysical
discontinuities and anomalies. Additionally, existing artisanal mining sites are assumed to be located on
structural trends that continue onto and through the land package forming highly prospective targets for
the discovery of significant gold deposits.
Prospective Geology and District - Scale Potential: The Todi Property is strategically located
along the massive Todi Shear Zone extending over 300 km , a gold - rich regional structure known
to host many gold occurrences with hundreds of extensive hard rock artisanal mining sites. The
project contains a n 18.5 km long mineralization trend identified by consistent gold in soil
anomalies containing extensive hard rock artisanal gold mining sites, and five primary multi - km
drilling targets with visible gold. Similarly, within the reconnaissance license, stream
geochemistry defined at least a 40 - km long gold corridor for further exploration and target
generation. Zodiac Gold believes that the project holds significant geological promise for gold
exploration and discovery . I t is located 20 km southeast of Avesoro’s New Liberty Gold Mine
and 30 km from the Ndablama gold mine .
Five High - Priority Exploration Targets: Sampling, mapping, trenching and scout drilling
programs were completed along the regional trend of the mineralization and identified at least
five multi - km targets for mineralization over 18.5 km of strike length in the project area ,
including Alasala - Mandingo Hill , Alasala South , Arthington, B enben, FehFeh and Youth Camp .
Successful Historical and Phase 1 Drill Program: Zodiac’s Phase 1 Scout Drilling Program,
completed in July 2022, along with earlier drilling carried out on the project, revealed significant
gold mineralization in 20 of 22 drill holes with key intercepts i ncluding: 6.15 g /t Au over 19.6m,
4.6 g/t Au over 9.0m, and 7.69 g/t Au over 6.0m at Alasala (2015) ; and 7. 5 g/t Au over 9.6m,
10.6 g/t Au over 6.0m, and 4.7 g/t Au over 5.65m at Arthington (2022) .
For further details regarding the Todi Project, refer to the technical report prepared by ACA Howe titled
“Technical Report on the Todi Gold Project in Liberia” and dated November 14, 2023, a copy of which
is available under Zodi ac Gold’s SEDAR profile at www.sedarplus.com.
2 Richard J. Goldfarb, Anne - Sylvie André - Mayer, Simon M. JowiƩ, Gavin M. Mudd. West Africa: The World’s Premier
Paleoproterozoic Gold Province . Economic Geology 2017 ; 112 (1): 123 – 143
Exploration Plans:
Phase 2 Drill Program: A 500 m drilling campaign was completed in 2023 as part of the ongoing Phase
2 Drill Program, primarily focusing on the Arthington target . The campaign aimed to test and extend the
mineralization along a 2 , 400 m strike of the + 4km mineraliz ed trend identified by the soil anomalies ,
trenching and high - grade channel chip samples on the bedrock where the shear zones exposed visible
gold . The c urrent drill program will serve as a basis for the next stage of extensive drilling program
planned at Arthington with the objected of delineating a maiden resource at the property .
Zodiac Gold also intends to expand its drilling on other targets at the Todi Project . The Alasala t arget ,
with a + 2 km strike length of mineralization defined by consistent trenching results and encouraging
scout drilling results , is expected to be a priority.
As p art of Zodiac Gold’s r egional e xploration and target generation strategy , soil sampling will be
planned to follow - up the results of stream geochemistry defining a 40 - km gold corridor with priority
exploration targets along the greenstone belts to confirm the extension of mineralization into the
reconnaissance license and identify additional exploration targets. All drilling and exploration work
beyond the initial work program identified in the technical report is subject to the Company sec uring
a dditional financing to fund such activities.
Senior Management & Advisory Team :
Zodiac Gold has assembled a senior management and advisory team that brings a wealth of experience,
drive, and proven track records of success . With the CEO and VP, Exploration on - the - ground full - time
in Liberia, the Company’s management is well positioned to execute the Company’s exploration strategy.
David Kol – President, CEO, & Director: David is a highly experienced international business and startup
executive with over 20 years of experience in finance, marketing, business development, M&A, and
executive management, primarily in the resource sector, media/entertainment, real estate and t echnology
industries. Prior to Zodiac, David held senior management roles in Gem Rocks Mining Resources, Global
Media Group Holdings, The Players Network, Global Media Ventures and Interactive Enterprises. David
curr ently serves on the Board of Directors of BluEarth Carbon Development. David attended the University
of California, Davis, where he studied managerial economics, and has an A.A. (Criminal Justice) from
Diablo Valley College.
Efdal Olcer – VP, Exploration: Efdal Olcer is a highly accomplished and qualified Exploration Geologist
with 1 8 years of experience. Efdal has unique technical skills and experience gained in various mineral
categories and diverse geological environments, including Greenstone, Archean, Proterozoic and Tethyan
in Africa, the Middle East, and Turkey. He possesses a de monstrable track record in mineral exploration,
specifically gold exploration in diverse deposit types including; epithermal, porphyry, orogenic, and
within different terrains. He has also gained extensive greenfield and brownfield exploration and project
development experience with the majority resulting in discoveries and several converting into profitable
gold mines. Before joining Zodiac, Efdal served as Chief Geologist for Summa Gold and Exploration
Manager of MNG Gold, a subsidiary of Avesoro Holdings . Efdal also held senior geological positions
for KEFI Minerals, Asia Minor Mining Inc., and Stratex Exploration PLC. Efdal holds a B.Sc. Degree in
Geological Engineering from Middle East Technical University. He is a member of the Society of
Economic Geologists, Geological Society of London, Australian Institute of Geoscientists, Society of
Geology Applied to Mineral Deposits, and Turkish Association of Economics Geologists.
Peter Granata – CFO: Peter Granata has more than 18 years of experience in finance and operations
management within global organizations. He is a dynamic, results - oriented professional with executive
positions in TSXV companies and, prior to these, served as an Audit Manager f or
PricewaterhouseCoopers. Peter has prepared financial statements, MD&A, news releases, mine
permitting applications and project cash flows. With PricewaterhouseCoopers he performed audits for
Canadian IFRS, US GAAP reconciliations, S pecial Purpose Financial Statements and has executed Group
reporting under Canadian GAAP. His experience includes CFO for TSXV entities, capital raising,
international corporate structures, client engagement, C - suite & directors engagement, M&A, financing,
investor relations, related party transactions, and finance transformation. Peter has a B. Bus and is a
Chartered Accountant.
Douglas Cater, P .Geo FGC – Independent Director: Doug Cater is a professional geologist who has
worked extensively across Canada and internationally for more than 35 years, with a particular focus on
the Abitibi gold belt located in NE Ontario. He has held positions with both senior and intermediate gol d
producers, including Barrick Gold Corp., Placer Dome Inc. and Kinross Gold Corp. His African
exploration experience was obtained while serving as an Exploration Consultant for Barrick Gold Corp.
in Tanzania , where he was responsible for the project management of an exploration diamond drill
program in the Lake Victoria greenstone belt. His most recent executive position was as Vice President,
Exploration (Canada) with Kirkland Lake Gold Ltd. Mr. Cater is als o a director of Sierra Metals Inc.,
Mayfair Gold Corp., Exploits Discovery Corp. and Gowest Gold Ltd. He is a graduate of the ICD - Rotman
Directors Education Program.
Graham Warren, CPA, CMA - Director: Graham Warren is a senior financial executive with over 30
years of experience with emerging and established companies primarily in the mining and oil and gas
sectors. His expertise spans financings, M&A transactions, and guiding companies through the going
public process. Mr. Warren serves as CFO and Director for Goliath Resources, Pangolin Diamonds Corp.,
and Platinex Inc. Mr. Warren has his B - Comm and is a Chartered Professional Accountant.
Mark Kol – Independent Director: Mark Kol, a Zodiac Gold co - founder, boasts over 30 years in investor
relations, venture capital, finance, and investment banking. With a passion for capital raising, Mark has
excelled across diverse industries, including real estate, exploration/mining, t echnology, biotech, and
media/entertainment. Currently an Executive Vice President at CBRE, Mark's career includes impactful
roles in San Francisco's investment banking scene, specializing in capital raising and preparing
companies for Initial Public Offer ings.
Renaud Adams - Advisor y Board : Mr. Adams is a decorated mining executive and currently serves as the
CEO of IAMGOLD Inc. (TSX:IMG) – a $1.6B market cap senior gold producer. Mr. Adams brings
extensive experience, having led the strategic repositioning of New Gold Inc. and served in key roles at
Richmont Mines and Primero Mining Corporation. His impactful career also includes managing
IAMGOLD's Rosebel mine in Suriname and serving as Senior Vice President, Americas Operations.
Michael Dem e ter - Advisor y Board : Michael Demeter, with over 25 years of equity capital markets and
mining investment banking experience, serves as a strategic advisor. H e is currently a partner at Fort
Capital and held previous roles include Managing Director, Head of Institutional Sales at Haywood
Securities Inc. and Associate Director, Institutional Equities at Macquarie Group.
About Zodiac Gold
Zodiac Gold stands at the forefront of gold exploration in West Africa, boasting a district - scale discovery
in the Todi Project. Guided by a commitment to responsible exploration and led by a n experienced
leadership team, Zodiac Gold is poised to play a pivotal role in the flourishing gold sector of West Africa.
The company's flagship Todi P roject, covering an expansive 2, 316 km 2 land package, is strategically
located in a previously underexplored region with close proximity to the renowned New Liberty Gold
Mine. With a robust exploration strategy, excellent access to infrastructure, and a focus on sustainable
practices, Zodiac Gold is well - positioned for success in unlocking the full potential of its extensive gold
exploration assets.
Qualified Person
Efdal Olcer, Vice President of Exploration at Zodiac Gold, is a member of the Society of Economic
Geologists, Geological Society of London, Australian Institute of Geoscientists, the Society of Geology
Applied to Mineral Deposits, and the Turkish Association of Economics Geologists and a Qualified
Person as defined by NI 43 - 101. He has reviewed and approved the technical and scientific
information provided in this release.
On Behalf of Zodiac Gold Inc.
“David Kol”
President & CEO
For further information, please visit the Zodiac - Gold website at www.zodiac - gold.com or contact:
David Kol
President & CEO
info@zodiac - gold.com
Neither 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.
Forward looking information: This news release includes certain “forward - looking information” within
the meaning of Canadian securities legislation and “forward - looking statements” within the meaning of
the United States Private Securities Litigation Refor m Act of 1995 (collectively “forward looking
statements”).
Forward - looking statements include predictions, projections, and forecasts and are often, but not always,
identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”,
“expect”, “potential”, “project”, “target”, “s chedule”, “budget” and “intend” and statements that an event
or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions
and includes the negatives thereof. All statements other than statements of historical fac t included in this
release, including, without limitation, statements regarding the Company’s planned exploration programs
and drill programs and potential significance of results are forward - looking statements that involve
various risks and uncertainties. There can be no as surance that such statements will prove to be accurate
and actual results and future events could differ materially from those anticipated in such statements.
Forward - looking statements are based on a number of material factors and assumptions. Important f actors
that could cause actual results to differ materially from Company’s expectations include actual
exploration results, changes in project parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availabili ty of capital, and financing on acceptable terms, general
economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability
of personnel, materials, and equipment on a timely basis, accidents or equipment breakdow ns, delays in
receiving government approvals, unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from time to time in the filings made by
the Company with securities regulato rs. Although the Company has attempted to identify important
factors that could cause actual actions, events, or results to differ from those described in forward - looking
statements, there may be other factors that cause such actions, events, or results to differ materially from
those anticipated. There can be no assurance that forward - looking statements will prove to be accurate,
and accordingly readers are cautioned not to place undue reliance on forward - looking statements.