Ongoing Phase II Drill Program At Arthington Target

TORONTO - Zodiac Gold Inc. reported on the ongoing Phase II Drill Program consisting of assay results from three recently completed diamond drill holes at the Arthington Target. The Arthington Target is positioned within an 18.5 km long district-scale mineralization trend and is one of the five high-priority, multi-kilometer drill-ready targets situated within the Company's 2,316 km2 Todi gold project located in the Republic of Liberia, West Africa. In 2022, the Company completed a 3,465m Phase I Drill Program targeting an 800m strike at Arthington which intersected multiple intervals of gold mineralization in 20 of 22 holes including the highest-grade interval drilled to date: ADD007, which intersected 7.5 g/t over 9.65m from 87.35m.

The Company is currently conducting a 2,000m Phase II Drill Program at Arthington targeting the Garang Base, Red Hill, Deep Mine and Ambulai zones. The Company reported positive results from the first three completed Phase II drill holes (ADD023, ADD024 and ADD025), including 9.14m at 4.20 g/t Au and 10.20m at 1.23 g/t Au, including 2.81m at 2.95 g/t Au. Assay results from three additional drill holes (ADD026, ADD027, and ADD028) which successfully intercepted multiple intervals of shear zone-hosted gold mineralization confirming the down dip extension. ADD027 confirms the down dip extension of the mineralization observed in ADD024 (25.90m at 2.10 g/t Au) down to a vertical depth of 150m and ADD28 confirms the down dip extension of the mineralization observed in ADD003 (10m at 1.01 g/t Au) down to a vertical depth of 180m emphasizing strong potential for both down dip extension of mineralization and along the 1,000m strike including Garang Base and Red Hill zones, part of 4+km Arthington Target.

These three drill holes (see below) revealed shear-hosted gold mineralization with intercepts cutting through multiple shallowly (~350- 450) dipping mineralized zones associated with shears across a 300m wide corridor of the 4+ km Arthington Shear Zone. This extensive gold bearing zone spans at least 1,000m along strike and reaches vertical depths of 180m as well as 275m along the down dip, illustrating a substantial orogenic gold footprint along the prominent Todi Shear Zone.

Notable mineralized shear structures include intervals in hole ADD027 (14.67 m at 1.33 g/t Au including 3.00m at 4.38 g/t Au) and in hole ADD028 (11.00 m at 1.28 g/t Au), indicating strong mineralization potential. The current drilling program aims to extend the strike length along the Arthington Shear Zone to at least 2,400 meters, encompassing both the Deep Mine and Ambulai Field zones, which are currently being drilled. The continuity of mineralization is highlighted by distinct intervals in hole ADD026, ADD027, and ADD028 which underscore the significant potential of the Arthington Target and the Todi Project overall.

David Kol, President & CEO, said, "The mineralization that we've found in all six of the Phase II drill holes that we've announced to date is very exciting. We are committed to continue to advance our exploration efforts further along strike to increase resource potential in the Arthington target. We are excited to see the future results."