Halifax, Nova Scotia–(Newsfile Corp. – November 4, 2025) – Zephyr Minerals Ltd. (TSXV: ZFR) (“ Zephyr ” or the “ Company “) is pleased to announce that it has completed a water well drilling program in support of resubmitting a mining permit application (the “ Application “) to the Colorado Division of Reclamation, Mining and Safety for its 100%-controlled Dawson Gold Property in Colorado, USA. The Company has also submitted a tender to conduct a 15-month water monitoring and analytical program, which is expected to commence in late Q4 2025. The Application will be resubmitted upon receipt of the analytical results from the water samples collected in the fifth and final quarter of monitoring.

Following further review, the Company has elected to proceed with an exploratory trenchin

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