Zephyr Receives Notice of Rejection of Zimbabwe Epo Applications
NEWS RELEASE
July 21, 2026 Shares Outstanding: 93,286,985
NR#08-2026 TSX.V: ZFR; OTC: ZPHYF
ZEPHYR RECEIVES NOTICE OF REJECTION OF ZIMBABWE EPO APPLICATIONS
Halifax, Nova Scotia – July 21, 2026 - Zephyr Minerals Ltd. (TSXV:ZFR) (OTC:ZPHYF) (“Zephyr”
or the “Company”) announces that its Zimbabwe subsidiary, Sutter Mining (Pvt) Ltd., has received
notice from the Ministry of Mines and Mining Development that its Exclusive Prospecting Order
("EPO") applications numbered 17/2021 and 33/2021 have been rejected. The EPO applications,
originally submitted in 2021, cover approximately 1 24,000 hectares in the Manicaland and
Mashonaland Central Mining Districts of Zimbabwe. The Company is currently preparing a formal
appeal to seek full reconsideration of the applications.
The Company notes that the notice of rejection did not provide specific reasons for the decision.
"We are disappointed by the decision, particularly given the length of time the applications have
been under consideration," stated Loren Komperdo, President and CEO of Zephyr Minerals.
“Accordingly, we are preparing an appeal seeking reconsideration of the applications and
clarification regarding the basis for the rejection. We remain committed to advancing opportunities
that we believe can create long-term value for shareholders.”
The Company will provide further updates regarding the appeal process and the status of the
applications as additional information becomes available.
About Zephyr Minerals Ltd.
Zephyr Minerals is focused on obtaining a mining permit for its 100%-owned Dawson Gold Project
in Colorado and advancing the project to the next stage of development. The Company intends to
appeal the rejection of its two Zimbabwean EPO applications, covering 124,000 hectares
prospective for gold and lithium.
For further information please contact:
Loren Komperdo, President & CEO
T: 902 706-0222
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.