Zodiac Gold Offsets Carbon Footprint from Current Drill Program and Operations and Announces Financing Extension
Zodiac Gold Offsets Carbon Footprint from
Current Drill Program and Operations and
Announces Financing Extension
Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Zodiac Gold Inc. (TSXV: ZAU) ("
Zodiac
Gold
" or the "
Company
"), a West-African gold exploration company, is pleased to announce that it has
offset the carbon emissions associated with its current Phase III drill program and its diesel-powered
office generators. This milestone reflects the Company's ongoing commitment to sustainability and
responsible exploration.
"At Zodiac Gold, environmental responsibility is central to how we operate. As we expand our
exploration footprint, we're equally committed to minimizing our impact and offsetting our carbon
emissions where possible," said David Kol, CEO of Zodiac Gold. "Our partnership with Karbon-X
enables us to manage our carbon footprint proactively and positions us as a leader in sustainable
exploration in West Africa."
Zodiac Gold achieved this by acquiring and retiring Verified Emission Reductions (VERs) through its
partnership with
Karbon-X Project Inc.
, a leading Canadian provider of voluntary carbon offsets. The
VERs were sourced from the
Turkey Run-of-River Hydro Project
, a recognized renewable energy
initiative registered under an international GHG registry.
The offset includes emissions from:
2,250 meters
of diamond drilling, accounting for
5.78 tCO2e
, and
14,000 gallons
of diesel fuel were used for Zodiac Gold's generator operations, which equated to
143 tCO2e
.
Zodiac Gold believes that integrating carbon offsetting into its exploration efforts not only supports global
climate goals but also sets a new standard for exploration companies operating in frontier markets.
Financing Extension
Zodiac Gold has received an extension from the TSX Venture Exchange ("TSXV") with respect to the
closing of its previously announced non-brokered private placement on February 6, 2025, and March 17,
2025 (the "Offering"). The outside date of the Offering has been extended until May 9, 2025. As
announced on March 18, 2025, the Company closed the first tranche of the Offering, issuing an
aggregate of 5,775,857 common shares ("the "Common Shares") at C$0.07 per share for gross
proceeds of C$404,310. Zodiac Gold requested the extension to accommodate certain insiders and
potential strategic investors who have indicated an interest in participating in the Offering but require
additional time to complete their subscriptions.
The terms of the Offering remain the same, with the Company intending to issue up to 14,285,715 Units
at a price of C$0.07 per Unit (the "Issue Price") for gross proceeds up to C$1,000,000.05 (inclusive of
amounts raised in the first tranche). Each Unit will consist of one common share of the Company and one
Common Share purchase warrant (a "Warrant"). Each Warrant will entitle
the holder to purchase one Common Share (a "Warrant Share") at an exercise price of C$0.12 per
Warrant Share for a period of 24 months following the closing of the Offering.
The net proceeds of the Offering will be used to continue the Company's Phase III infill drill program at
the Arthington target, advance exploration across the Company's three exploration licenses, and for
general working capital purposes.
About Karbon-X
Karbon-X
is a pioneering organization providing full-spectrum carbon solutions that empower
individuals and businesses to take real, measurable climate action. Whether through emissions tracking,
reduction planning, or verified projects, Karbon-X offers accessible tools and services rooted in
transparency and impact. Karbon-X's innovative approach to climate action has gained widespread
recognition across industries and regions, as it continues to support organizations on their journey
toward a more sustainable future.
About Zodiac Gold
Zodiac Gold Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi
Project situated in Liberia-an underexplored, politically stable, mining friendly jurisdiction hosting several
large-scale gold and iron ore deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac
Gold is developing a district-scale gold opportunity with additional iron ore potential, covering a vast
2,316 km
2
land package. The Todi gold project has undergone de-risking, showcasing proven gold
occurrences at both surface and depth, with five drill-ready targets, of which two have been drilled and
high-grade gold intercepts.
Highlights of the project include:
Located only 13km from the capital city of Monrovia, meaning that the project benefits from existing
infrastructure, power, and year-round accessibility.
District-scale gold exploration potential with proven high-grade mineralization across multiple drill-
ready targets along a 20km gold corridor. Strategically located 20km southeast of Avesoro's New
Liberty Gold Mine (
1.8 Moz. resource
) with production of
360Koz in 2024
(
https://avesoro.com/
).
Drilling highlights from 32 holes at the Arthington target include 6m at 10.6 g/t Au (including 3m at
20.45 g/t Au), 9.65m at 7.5 g/t Au (including 3m at 20.36 g/t Au) and 9.14m at 4.2 g/t Au
1
.
Drilling highlights at the Alasala target include 19.6m at 6.17 g/t Au, 6.0m at 7.69 g/t Au, 9.0m at
4.6 g/t Au and 4.05m at 13.92 g/t Au (including 1.6m at 34.5 g/t Au)
2,3
.
Qualified Person
Tom Dowrick, Director of Exploration at Zodiac Gold, is a Chartered Geologist of the Geological Society
of London and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical
and scientific information provided in this release.
For further information, please visit the Zodiac Gold website at
www.zodiac-gold.com
or contact:
David Kol
President & CEO
+1 702-296-1156
Karbon-X
Chad Clovis
CEO, Karbon-X
+1 778-256-5730
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 statements" within the meaning of Canadian
securities legislation.
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", "schedule", "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 fact 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 assurance 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 factors 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
carbon offsetting, results of future resource estimates, future metal prices, availability 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 breakdowns, 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 regulators.
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.
_________________________
1
Please refer to the Company’s April 30, 2024, press release for further details.
2
Please refer to the Company’s March 17, 2025, press release for further details.
3
Please refer to the Company’s February 6, 2025, press release for further details.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/248355