Zephyr Minerals Grants Stock Options

Zephyr Minerals Grants Stock Options

Trading Symbol: TSX-V: ZFR OTC:ZPHYF

Shares Outstanding: 63,090,977

HALIFAX

,

May 8, 2020

/CNW/ - Zephyr Minerals Ltd. ("

Zephyr

" or the "

Company

") (TSXV: ZFR)

(OTC: ZPHYF), has granted 875,000 stock options to consultants and directors and officers of the

Company. The stock options are exercisable at a price of

$0.26

per share for a term of five years

expiring

May 8, 2025

. 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. continues to advance its 100% owned high grade Dawson-Green Mountain

Project in

Colorado, USA

. After expanding it's land package to 1,385 hectares (3,430 acres) the

Company now controls a 12.2 km long

Dawson-Green Mountain

mineralized trend. The central 3.2

km long El Plomo section is the focus for potential Broken Hill Type silver-lead-zinc mineralization

and the east and west sections, Dawson and Green Mountain respectively are being targeted for

gold. The Dawson section is currently host to a high grade inferred gold resource. The Company

believes the combined Dawson and Green Mountain sections encompassing approximately 9 km of

mineralized trend provide excellent resource expansion potential.

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

from the private placement, expectations and assumptions concerning timing of receipt of required

regulatory approvals and third party consents and the satisfaction of other conditions to the

completion of the exploration work on the Dawson-Green Mountain Property. 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/May2020/08/c3097.html

%SEDAR: 00030509E

For further information:

please contact: David Felderhof, Exec. VP & Director, Zephyr Minerals

Ltd., T: 902 446-4189, F: 866 941-4715; To be included in the Zephyr email database for Company

updates please contact [email protected].

CO: Zephyr Minerals Ltd.

CNW 08:20e 08-MAY-20