OakRun Precious Metals Fund, Ltd. Acquires Additional Common Shares of Zephyr Minerals Limited GEORGE TOWN, Grand Cayman ,

OakRun Precious Metals Fund, Ltd. Acquires Additional Common Shares of Zephyr Minerals Limited

GEORGE TOWN, Grand Cayman

,

May 31, 2017

/CNW/ - OakRun Precious Metals Fund, Ltd. ("

OakRun Fund

") announced today that it has acquired ownership

of 1,800,000 units of Zephyr Minerals Ltd. (TSXV: ZFR) ("

Zephyr

") for an aggregate purchase price of

$504,000

(

$0.28

per unit). Each Unit is comprised of one

common share and one half of one common share purchase warrant of Zephyr, with each whole warrant entitling the holder to acquire one common share of

Zephyr for

$0.42

at any time up to

May 29, 2019

.

OakRun Capital LLC, a company owned and managed by

Scott Rhodenizer

, is the investment manager of OakRun Fund. OakRun Capital LLC has voting control

of the shares of Zephyr owned by OakRun Fund.

The 1,800,000 Units were purchased by way of a private placement and were acquired for investment purposes. OakRun Fund, OakRun Capital LLC and/or

Scott

Rhodenizer

may from time to time increase or decrease their holdings of common shares of Zephyr, depending on market and other conditions.

Following the acquisition, OakRun Fund now owns 11,014,284 common shares of Zephyr, which represents approximately 29.6% of all outstanding common

shares of Zephyr. In addition, OakRun Fund owns 5,687,500 share purchase warrants of Zephyr.

SOURCE

OakRun Precious Metals Fund, Ltd.

View original content: http://www.newswire.ca/en/releases/archive/May2017/31/c4436.html

%SEDAR: 00030509E

For further information:

Further details may be obtained from the Early Warning Report filed on SEDAR by OakRun Fund under Zephyr's profile or by

contacting Scott Rhodenizer at 305-799-7711.

CO: OakRun Precious Metals Fund, Ltd.

CNW 11:34e 31-MAY-17