Trading Symbol: TSX-V: ZFR OTC:ZPHYF Shares Outstanding: 51,602,477 HALIFAX ,

Retraction

Trading Symbol: TSX-V: ZFR OTC:ZPHYF

Shares Outstanding: 51,602,477

HALIFAX

,

June 28, 2019

/CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR)

(OTC: ZPHYF) announces that as a result of a second review by IIROC, the Company retracts the

following statements made in its

June 28, 2019

news release; "this discovery totaling 45 million

tonnes of high grade silver, lead, and zinc mineralization is worth approximately

$25 billion

in today's

dollars"; and "a discovery like

Cannington

, would be monetarily equivalent to discovering a 19 million

oz. gold deposit." These statements constitute restricted disclosure per National Instrument 43-101,

2.3 – Restricted Disclosure.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. continues to advance its 100% owned high grade

Dawson-Green Mountain

property in

Colorado, USA

. After expanding its land package to 1,388 hectares (3,430 acres) the

company now controls a 12.2 kilometer (7.5 mile) mineralized trend which is prospective for Broken

Hill-type silver-lead-zinc deposits and gold.

Mr.

Mark Graves

, P.Geo. registered with the Association of Professional Geoscientists of

Nova

Scotia

(APGNS), has prepared the scientific and technical information in this news release.

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.

SOURCE

Zephyr Minerals Ltd.

View original content:

http://www.newswire.ca/en/releases/archive/June2019/28/c0524.html

%SEDAR: 00030509E

For further information:

Loren Komperdo, President & CEO; or Will Felderhof, Executive

Chairman, Zephyr Minerals Ltd., T: 902 446-4189, F: 866 941-4715

CO: Zephyr Minerals Ltd.

CNW 17:20e 28-JUN-19