Drilling At The Dawson-Green Mountain Property In Colorado

HALIFAX, NS - Zephyr Minerals Ltd. reported that drill hole DA 20-18 intercepted 5.71 g/t gold over 8.2 m (27 ft) commencing from 242.3 m, including 12.14 g/t gold over 3.7 m (12 ft) commencing from 246.9 m. Drill hole DA-20-18 was drilled to twin historical drill hole GC-44 which intercepted 10.22 g/t gold over 8.2 m (27 ft) (capped at 40 g/t) commencing from 242.3 m. True intercept widths are estimated to be approximately 80% of the reported sample lengths. This portion of the gold deposit is characterized by coarse nuggety gold; the distribution of which is variable in the 8.2 m gold-mineralized envelope. Additional infill drilling and/or bulk sampling should ultimately provide a reliable grade estimate for this high grade portion of the deposit. Core from this drill hole will be utilized for metallurgical and engineering test work.

Loren Komperdo, President and CEO, said, "The favorable assays returned in drill hole DA-20-18 increase confidence in historical drilling data that forms the basis of the current  National Instrument 43-101 (NI 43-101) mineral resource estimate for the Dawson section. They also provide support for the Company's ongoing program which includes working to complete and file an application for a mining permit in the first half of 2021."

Standard sampling procedures were followed whereby HQ core was cut using a diamond saw and sampled. One-quarter of the core was placed in plastic sample bags and the other 3/4 was left in the core box for reference. The sample weight used by the laboratory was approximately 0.5 kg. Analytical standards, duplicates, and blanks were inserted at approximately every ten sample intervals. The core samples were shipped from Canon City, Colorado to Bureau Veritas Commodities and Trade Inc. in Reno, Nevada for sample preparation and analysis. All samples were assayed using fire assay and Screen Metallic Assay method for gold and Zephyr staff and consultants maintained a secure chain of custody for both core and core samples.