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Zephyr Provides Update

Zephyr Minerals (OTC Pink: ZPHYF) engaged Pinyon Environmental to run a comprehensive water monitoring and analytical program for its 100%‑controlled Dawson Gold Property in Colorado.

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Zephyr Minerals (OTC Pink: ZPHYF) engaged Pinyon Environmental to run a comprehensive water monitoring and analytical program for its 100%‑controlled Dawson Gold Property in Colorado.

Monitoring will start in December 2025 and occur quarterly through December 2026 to establish baseline groundwater and surface water conditions ahead of the company's plan to resubmit a mining permit application to the Colorado Division of Reclamation, Mining and Safety.

The company also announced the retirement of Suzan Frazer as corporate secretary; David Felderhof, director and CFO, will succeed her.

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News Market Reaction – ZPHYF

The recorded move for ZPHYF in the trading session of this news was -22.39%.

Data tracked by StockTitan Argus. Session date unavailable.

Key Figures

Share price: $0.04604 Daily change: 7.98% 52-week range: $0.0137–$0.0629 +5 more
Share price
$0.04604
Pre-news price for ZPHYF
Daily change
7.98%
24h move prior to publication
52-week range
$0.0137–$0.0629
Low to high over last 52 weeks
Volume today
10,000 shares
Compared with 20-day average of 20,972
Water monitoring duration
Quarterly through December 2026
Baseline water program supporting permit resubmission
Corporate service tenure
Since 2010
Outgoing corporate secretary’s service period
Water monitoring tender
15 months
Previously tendered Dawson Gold monitoring program
Resource cutoff grade
5 g/t
2013 resource cutoff used at ~$1,300/oz gold

Historical Context

1 past event · Latest: Nov 04
1 event
  1. Nov 04

    Project update

    24h Move
    -9.0%

    Dawson Gold water-well completion and planned monitoring to support permit resubmission.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

mining permit application
1 terms
mining permit application regulatory
"to conduct a comprehensive water monitoring and analytical program in support of resubmitting a mining permit application"
An application submitted to government authorities requesting official permission to explore, develop or operate a mine. Like asking for a building permit before constructing a factory, it documents plans, environmental protections and safety measures; approval determines whether a project can legally proceed, how quickly it can start, and what extra costs or conditions may apply — factors that directly affect a mining project's timeline, risk and value for investors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Halifax, Nova Scotia--(Newsfile Corp. - December 9, 2025) - Zephyr Minerals Ltd. (TSXV: ZFR) (OTC Pink: ZPHYF) ("Zephyr" or the "Company") is pleased to announce that it has engaged Pinyon Environmental, Inc., of Lakewood, Colorado, to conduct a comprehensive water monitoring and analytical program in support of resubmitting a mining permit application (the "Application") to the Colorado Division of Reclamation, Mining and Safety ("DRMS") for its 100%-controlled Dawson Gold Property in Colorado, USA. The program is designed to establish baseline ground water and surface water conditions at and around the Dawson Gold Deposit. Monitoring will begin this month and continue on a quarterly basis through December 2026, after which the Company intends to resubmit the Application to DRMS.

Also, the Company wishes to announce the retirement of Ms. Suzan Frazer as corporate secretary of the Company. Ms. Frazer has served as corporate secretary since the Company's inception in 2010. The Board wishes to extend its gratitude to Ms. Frazer and wishes her the very best in her retirement. Mr. David Felderhof, a director and Chief Financial Officer of the Company, will succeed Ms. Frazer as corporate secretary.

About Dawson Gold Property

The Dawson Gold Deposit hosts an Inferred Mineral Resource1 prepared in accordance with National Instrument 43-101 ("NI 43-101") of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold at a 5 g/t cut-off with no top cut, and 116,300 ounces of gold at 10.55 g/t with a 40 g/t top cut. The estimate has an effective date of July 19, 2013. No updates to the resource estimate have been made to incorporate the results from drilling programs completed between 2017 and 2020.The deposit is open at depth, with exploration potential to the east and west. A Preliminary Economic Assessment2 ("PEA") was prepared in accordance with NI 43-101 with an effective date of March 21, 2017. Utilizing a gold price of $1,250/oz, the PEA showed robust economics with an all-in sustaining cost ("AISC") per ounce of $692. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Given the substantial increase in the gold price since 2017, the attractiveness of the Dawson project has been significantly enhanced. The potential to expand resources is excellent at depth on the Dawson Gold Deposit, along strike to the east in the 700-metre-long Sentinel zone, which has not been drill tested, and through follow-up drilling of promising targets in the Windy Gulch and Windy Point zones to the west. The Dawson project features key attributes, including a small footprint associated with the proposed underground mine, ownership or control of all necessary lands by Zephyr, a climate that supports year-round operations, and nearby infrastructure and industrial support.

About Zephyr Minerals Ltd.

Zephyr Minerals is mission focused on obtaining a mining permit for its 100% 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 ("EPO"), covering 124,000 hectares applied for in 2021. The areas covered by the EPO applications are prospective for gold and lithium.

Notes

1 The Report is titled Resource Estimate Technical Report for the Dawson Property Fremont County, Colorado, USA, dated September 6, 2013, and was prepared for Zephyr by Andrew Hilchey, P.Geo., Mercator Geological Services Limited, Isobel Wolfson, M.Sc., P.Geo, and Mark Graves, P.Geo..

2 The report is entitled "National Instrument 43-101 Technical Report for the Dawson Property, Colorado, USA", effective March 21, 2017 (the "Technical Report"). The Technical Report was prepared by independent engineering firm, Golder Associates Ltd., with input from a number of other specialized and experienced consulting firms, and is in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. This PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There has been insufficient drilling to define the inferred resources as indicted or measured mineral resource; however, it is reasonable to expect that the inferred mineral resources could be upgraded to indicated and possibly measured resources with continued drilling. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

For further information please contact:
Loren Komperdo, President & CEO
T: 902 706-0222
info@zephyrminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277429

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What water monitoring did Zephyr Minerals (ZPHYF) announce on December 9, 2025?

Zephyr engaged Pinyon Environmental to run a comprehensive water monitoring and analytical program at the Dawson Gold Property beginning December 2025.

How long will the Zephyr (ZPHYF) water monitoring program run before resubmitting the permit?

Monitoring is scheduled quarterly through December 2026, after which the company intends to resubmit the permit application.

What is the purpose of Zephyr's (ZPHYF) water monitoring at Dawson Gold Property?

The program is designed to establish baseline groundwater and surface water conditions to support a resubmitted mining permit application to Colorado DRMS.

Who will be Zephyr's (ZPHYF) corporate secretary after Suzan Frazer's retirement?

Mr. David Felderhof, a director and the company's CFO, will succeed Suzan Frazer as corporate secretary.

Which regulator will Zephyr (ZPHYF) resubmit the Dawson Gold permit application to?

The company intends to resubmit the application to the Colorado Division of Reclamation, Mining and Safety (DRMS) after monitoring is complete.

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