Mr. Terry Christopher reports

ZONTE METALS OUTLINES ITS FOURTH LARGE DRILL TARGET ON ITS CROSS HILLS COPPER PROJECT AND CORRECTS PREVIOUSLY CLOSED FINANCING TERMS

Zonte Metals Inc. has advanced the K7 target to drill stage.

Highlights:

• Identification of a large gravity anomaly, with dimensions of 1,300 metres by 1,250 metres and 1,000 metres deep, measured along the longest axes;
• The anomaly sits in a structural zone with spatially coincident magnetics and copper-in-soil anomaly;
• Sits just 400 metres south of the K6 target, where the company discovered copper mineralization in drill core.

The company has compiled all data sets over the K7 target area (formally called K6S-K7) including newly reprocessed 3-D inversion gravity and magnetic data and geochemical and geological data. The 3-D inversion gravity anomaly sits in a structural corridor, which hosts the K6 target to the north and the K9 target to the south. Along the longest axes, the gravity anomaly measures 1,300 metres by 1,250 metres, and 1,000 metres deep. The highest point of the anomaly sits about 100 m below surface. The target area is mainly under soil cover; however, the area shows a large coincident elevated copper-in-soil anomaly.

Terry Christopher, president and chief executive officer, commented: "The K7 gravity anomaly sits coincident with magnetics, copper in soils, structural zones, and alteration also is spatially close to the K6 target. The K6 target is just 400 metres to the north, where the company discovered copper in drill core. Combined, the data makes the K7 target a high-priority drill target. The company now has four large targets, each at drill stage. Additional fieldwork in ongoing, and an update will be issued in due course as we continue to advance targets to drill stage."

Processing of the K8 area identified a small gravity anomaly. At this point, this target will not be subject to further exploration.

Zonte also wishes to report a reduction in the finders' fees paid in connection with the non-brokered private placement announced in a press release dated Dec. 30, 2024. Pursuant to the offering, the company issued 3,991,924 shares, including 715,000 common share units at a price of six cents per common share unit and 3,276,924 flow-through shares at a price of 6.5 cents per flow-through share for total proceeds of $255,900.06. Each CS unit consisted of one common share and one-half common share purchase warrant. Each full warrant is exercisable until Dec. 20, 2026, to purchase one common share of the company at a price of 10 cents per share.

Following completion of the offering, the company has 80,904,105 shares issued and outstanding.

In connection with securities sold pursuant to the offering, the company paid $14,000 in cash and issued 215,385 finder warrants to an eligible finder, who is at arm's length to the company. Each finder warrant is exercisable until June 20, 2026, to purchase one common share of the company at a price of 12 cents per share. Finders' fees paid in connection with the offering are subject to and in accordance with exchange and regulatory policies.

An insider of the company acquired 150,000 CS units of the offering for proceeds to the company of $9,000. Any participation by insiders in the offering constituted a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).

However, as insider participation represented less than 25 per cent of the proceeds of the offering, the company relied on the exemptions available under the instrument, and such participation was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

All securities issued pursuant to the offering will be subject to a four-month-and-one-day statutory hold period ending April 21, 2025.

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

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. Mr. Blake is a non-independent consultant to Zonte.

About Zonte Metals Inc.

Zonte is a junior explorer focused on gold and copper. The company owns 100 per cent of the MJ project in the Tintina gold belt, located in the Yukon territory, the Wings Point project in the new central Newfoundland gold belt, and the Cross Hills copper 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 its 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.

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