Mr. Loren Komperdo reports

ZEPHYR ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS & GRANTS STOCK OPTIONS

Zephyr Minerals Ltd.'s shareholders voted in favour of all items of business brought before them at the company's annual and special meeting of shareholders (AGM), held on May 20, 2026, in Halifax, N.S.

The number of directors was set by the company's board of directors at seven, with Will Felderhof, Loren Komperdo, David Felderhof, Brian Arkell, John Clark, Ted Grant and Scott Rhodenizer elected to the board for the ensuing year.

The company further announces that, effective following the AGM, Mr. Felderhof will transition from executive chairman to non-executive chairman. The board also confirmed the appointments of Mr. Komperdo as president and chief executive officer, and Mr. Felderhof as chief financial officer, executive vice-president and corporate secretary.

Davidson & Company LLP, chartered professional accountants, was reappointed as the company's auditor to serve until the next annual meeting of shareholders or until its successor is appointed, with remuneration to be fixed by the board.

Shareholders also approved the renewal of the company's 10-per-cent rolling stock option plan in accordance with the policies of the TSX Venture Exchange.

The company has granted an aggregate of 3.15 million stock options to directors and officers of the company. The stock options are exercisable at a price of eight cents per common share for a period of five years, expiring May 20, 2031. The stock options were granted in accordance with the company's stock option plan and the policies of the TSX-V, and remain subject to TSX-V approval.

About Zephyr Minerals Ltd.

Zephyr Minerals is mission focused on obtaining a mining permit for its 100-per-cent-owned Dawson gold property in Colorado with the view to continuing to advance this project to the next stage of development. The company continues to wait for the Zimbabwean government to grant two exclusive prospecting orders (EPOs), covering 124,000 hectares applied for in 2021. The areas covered by the EPO applications are prospective for gold and lithium.

We seek Safe Harbor.