Mr. Terry Christopher reports

ZONTE RECEIVES TECHNICAL ANALYSIS OF THE K6 DRILL SAMPLES AND A GRANT FROM THE NEWFOUNDLAND AND LABRADOR GOVERNMENT.

Zonte Metals Inc. has provided an update on additional data from the K6 drilling program at its Cross Hills copper project in Newfoundland and Labrador, and provided notice it has received an exploration grant from the government of Newfoundland and Labrador.

Highlights from technical analysis of the K6 drill core:

• Mineralization occurred in a number of pulses;
• Documented changes in the style of mineralization suggest possible extension to depth with better grade;
• Target is open at depth and to the west.

Terry Christopher, president and chief executive officer, comments: "A number of samples from the recently completed K6 drill core were analyzed via thin section and scanning electron microscope. The findings from this examination, coupled with characteristics derived from core logs, reveal several significant aspects of the copper system at K6. Firstly, there were up to three distinct pulses of mineralization, with the final one manifesting as a hypogene chalcocite event that overlaid earlier mineralization. This observation is significant as these late overprinting chalcocite events can lead to elevated grades. Moreover, changes in the overall character of the mineralization offer insights into the copper system, suggesting a potential increase in grade with depth. These features are evidenced by a progressive increase in copper grade with depth in the drill holes, along with a notable augmentation in chalcocite content, particularly evident in the deepest drill hole, CH23-05. This hole exhibited higher mineral contents, with recorded grades in individual samples reaching up to 2.64 per cent, as noted in our Feb. 29, 2024, press release. These observations will be used to vector in on stronger parts of the mineral system in the upcoming drill program."

Zonte Metals has been exploring the Cross Hills copper project since 2018. The project now has 12 targets, with a number of them at or near the drill-ready stage. Over the past several years, the company has undertaken a program to enhance its understanding of the copper system with the aim of intersecting better copper zones in drill core. Early drill programs yielded copper intersections, with the longest continuous interval measuring 4.6 m. This contrasts with the recently drilled K6 target, that availed of much more technical data prior to drilling, where continuous mineralization was intersected in intervals up to 34.5 m (refer to the Feb. 29, 2024, press release).

In preparation for the follow-up drill program at the K6 target, Zonte commissioned a thin section (TS) and scanning electron microscope (SEM) analyses of select samples from the recent drill core. These analyses were conducted by Hamilton Geoconsulting of Hamilton, Ont. The objective was to provide additional insights into the mineralizing system, which, in conjunction with other findings, could aid in defining possible extensions for the intersected copper intervals.

One significant finding from the TS analysis was the discovery of up to three distinct mineralizing events. Near the surface in CH23-06, a sample at 98.62 m, which sits in the 34.5 m interval that returned 0.11 per cent copper (Cu), recorded at least two phases of mineralization, as evident from chalcopyrite replacing bornite. Chalcocite was also present, but no distinctive relationship to the initial two minerals was observed in TS. Deeper in CH23-05, a sample at 164.85 m, which sits in the 11.2 m interval that returned 0.42 per cent Cu, showed three pulses of mineralization. The early phase was a high-temperature one carrying chalcopyrite, which was subsequently followed by a bornite phase and then a late hypogene chalcocite phase.

Drilling through this portion of the target highlighted an increase in copper grade with depth, which was previously released on Feb. 29, 2024. The increasing copper grade with depth is interpreted to be controlled by the fluid system that emplaced the mineralization. In near-surface intervals, such as in CH23-06, mineralization was mainly characterized as thin films of chalcocite on hairline fractures. In contrast, at depth in CH23-05, the mineralization is also composed of well-defined chalcocite grains and veining, penetrating the rock mass. This observation suggests the mineralization emplaced in CH23-06 may have been at the top of the system in the lower pressure portion compared with CH23-05, which would have been deeper and further into the copper system. Should this trend persist, it is inferred that more favourable portions of the mineralizing system may lie at greater depths, below CH23-05.

Based on the observations from the TS and SEM analysis, in concert with drill hole, geochemical and geophysical data, the target appears to be open at depth and to the west. The next drill program, which is being planned, will test these open directions.

Additional information on the Cross Hills copper project can be found at the company's website.

Zonte would also like to acknowledge and thank the government of Newfoundland and Labrador for a grant totalling $69,899.49. The grant was issued through the mineral incentive program -- junior exploration assistance, from the Department of Industry, Energy and Technology. The grant is in recognition of 2023 exploration expenditures on the Cross Hills copper project.

Qualified person

Donald Blake, PGeo, is the qualified person as defined by National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release.

About Zonte Metals Inc.

Zonte Metals is a junior explorer focused on gold and copper. The company owns 100 per cent of the McConnells Jest project, in the Tintina gold belt, located in Yukon, the Wings Point project in the new Central Newfoundland gold belt, and the Cross Hills IOCG (iron oxide-carbon-gold) project located in Newfoundland and Labrador. In Colombia, the company has a 25-per-cent carried interest in Project X, where historic drilling intersected significant gold mineralization, and the company and partner have an application over open areas sitting on top of the open-pit outline of the Gramalote deposit in Colombia, which is held by AngloGold Ashanti and B2Gold. The title issuance is being contested by the state governing the application and the company has started legal action to protect its rights.

We seek Safe Harbor.