Zephyr Minerals plans $200K private placement, updates on Dawson Gold

Zephyr Minerals Ltd. (TSXV: ZFR) (OTC Pink: ZPHYF) announced a non-brokered private placement of up to 4,000,000 units at $0.05 per unit, targeting gross proceeds of up to $200,000, according to a press release dated September 23, 2026.

Each unit consists of one common share and one warrant, with each warrant exercisable at $0.10 per share for two years from issuance. Proceeds will be directed toward general working capital and permitting activities at the company's Dawson Gold Project in Colorado. Certain company insiders are expected to participate. All securities issued will be subject to a four-month-and-one-day statutory hold period, and completion remains subject to TSX Venture Exchange acceptance.

The company also reported completing the fourth quarter of a five-quarter groundwater monitoring program at its Dawson Gold property. The fifth and final quarter is scheduled for December 2026. Zephyr said it intends to submit a new mining permit application to the Colorado Division of Reclamation, Mining and Safety as early as January 2027, following receipt and review of all analytical data.

On its Zimbabwe operations, Zephyr said it submitted a formal appeal in July 2026 after the Zimbabwe Ministry of Mines and Mining Development rejected its Exclusive Prospecting Order applications. The applications, originally filed in 2021, cover approximately 124,000 hectares in the Manicaland and Mashonaland Central Mining Districts. The company said it continues to await a response.

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