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ZFR.V ·

Zephyr Announces Change of Auditor

Regulatory & Compliance

NEWS RELEASE

September 25, 2024 Shares Outstanding: 79,086,985

NR#03-2024 Trading Symbols: TSX.V: ZFR

ZEPHYR ANNOUNCES CHANGE OF AUDITOR

September 25, 2024 HALIFAX, NS – Zephyr Minerals Ltd. (TSXV: ZFR) (OTC: ZPHYF)

("Zephyr" or the "Company") announces that it has changed its auditors from Wasserman

Ramsay, Chartered Professional Accountants (the “Former Auditor”) , to Davidson &

Company LLP, Chartered Professional Accountants (the “Successor Auditor”) . The

Former Auditor resigned effective September 24, 2024, on account of exiting the public

company auditing space . T he Company appointed the Successor Auditor , effective

September 24, 2024, until the next annual shareholder meeting of the Company.

There were no reservations in the Former Auditor's audit reports for any financial period

during which the Former Auditor was the Company's auditor. There are no "reportable

events" (as the term is defined in National Instrument 51 -102 – Continuous Disclosure

Obligations ("NI 51-102")) between the Company and the Former Auditor.

In accordance with NI 51-102, the notice of change of auditor, together with the required

letters from the Former Auditor and the Successor Auditor, have been reviewed by the

board of directors of the Company and filed on SEDAR+ at www.sedarplus.ca.

About Zephyr Minerals Ltd.

Zephyr Minerals is mission focused on obtaining a mining permit for its 100% owned

Dawson Gold project in Colorado with the view to continuing to advance this project to the

next stage of development. The Company continues to review gold properties for potential

acquisition and/or joint venture throughout Zimbabwe as these are received from third

parties. The Company continues to wait for the Zimbabwean Government to grant two

Exclusive Prospecting Orders (“EPO”), covering 124,000 hectares applied for in 2021. The

areas covered by the EPO applications are prospective for gold and lithium.

For further information please contact:

David Felderhof, CFO

T: 902 706-0222

[email protected]

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 docume nt are based on certain key expectations and assumptions made by the Company . 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. Not for distribution in the United States of America.