Mr. Terry Christopher reports

ZONTE METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Zonte Metals Inc. has arranged a non-brokered private placement for proceeds of up to $750,000, consisting of up to six million common share units at a price of six cents per common share unit and six million flow-through (FT) shares at a price of 6.5 cents per flow-through share, subject to TSX Venture Exchange approval. Each common share unit will consist of one common share and one-half common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of 10 cents per common share for a period of 18 months from the date of issuance.

Eligible finders will be entitled to a finders' fees in connection with securities sold pursuant to the offering of: (i) cash in an amount equal to 7 per cent of the aggregate gross subscription proceeds received from the sale of securities; and (ii) finders' warrants equal to 7 per cent of the number of securities sold in the offering, each such finder's warrant exercisable at any time up to 18 months following its date of issuance to purchase one common share of the company at an exercise price of 12 cents per share. All finders' fees will be subject to and in accordance with exchange and regulatory policies.

The initial closing of the offering is expected to take place on or about Dec. 20, 2024, or other dates(s) as may be determined by the company. The securities issued pursuant to the offering will be subject to a four-month-and-one-day statutory hold period.

Certain insiders of the company may participate in the offering. Any participation by insiders in the offering would constitute a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. However, the company expects the level of any such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 and intends to rely on the exemptions available under the instrument.

The company intends to use the net proceeds of the offering for working capital purposes and exploration at the Cross Hills IOCG (iron oxide, copper and gold) property in Newfoundland and Labrador.

About Zonte Metals Inc.

Zonte Metals is a junior explorer focused on gold and copper. The company owns 100 per cent of its properties, including the Cross Hills copper project and the Wings Point gold project in Newfoundland and Labrador, and the MJ project in the Tintina gold belt, located in Yukon. In Colombia, the company has a 25-per-cent carried interest in Project X, where historical 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.