Zephyr Minerals Grants Stock Options

ZEPHYR MINERALS GRANTS STOCK

OPTIONS

/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED

STATES OF AMERICA

./

Trading Symbols: TSX-V: ZFR OTC-ZPHYF

Shares Outstanding: 67,986,985

HALIFAX, NS

,

Jan. 13, 2022

/CNW/ -

Zephyr Minerals Ltd. ("Zephyr" or the "Company")

(TSX-

V: ZFR) (OTC: ZPHYF)

,

has granted 1,250,000 stock options to consultants and directors and

officers of the Company. The stock options are exercisable at a price of

$0.16

per share for a term

of five years expiring

January 13, 2027

. The options are granted in accordance with the Company's

stock option plan and as set forth by TSX Venture Exchange ("TSX-V") policy and are subject to the

approval of the TSX-V.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. has applied for a mining permit at its 100% owned high grade

Dawson-Green

Mountain

property in

Colorado, USA

. After expanding its land package to 1,385 hectares (3,574

acres) the Company now controls a 12.2 kilometer long

Dawson-Green Mountain

mineralized trend.

The Company has also begun new project evaluation in

Zimbabwe

with focus on underexplored

areas with the potential to host world class mineral deposits.

CAUTIONARY STATEMENT:

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. The forward-looking statements contained in this document are based on certain key

expectations and assumptions made by the Company, including, with respect to the use of funds

and expectations and assumptions concerning timing of receipt of required regulatory approvals.

The forward-looking statements contained in this document are made as of the date hereof and the

Company undertakes no obligation to update publicly or revise any forward-looking statements or

information, whether as a result of new information, future events or otherwise, unless so required

by applicable securities laws.

SOURCE

Zephyr Minerals Ltd.

View original content:

http://www.newswire.ca/en/releases/archive/January2022/13/c3788.html

%SEDAR: 00030509E

For further information:

David Felderhof, CFO, T: 902 706-0222, [email protected]

CO: Zephyr Minerals Ltd.

CNW 08:50e 13-JAN-22