ZEPHYR ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

HALIFAX, NS, May 27, 2022 /CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) ("Zephyr" or the "Company") is pleased to announce that its shareholders voted in favour of all items of business brought before them at the Company's Annual and Special Meeting of Shareholders ("AGM") held on May 26, 2022 in Halifax, Nova Scotia.

The number of directors was set by the Company's board of directors ("Board") at six, with Will Felderhof, Loren Komperdo, David Felderhof, John Clark, Scott Rhodenizer and Ted Grant elected to the Company's Board for the ensuing year.

Following the AGM, the Board confirmed the appointment of Zephyr's executive officers, namely: Executive Chairman ? Will Felderhof; President and Chief Executive Officer ? Loren Komperdo; Executive Vice President and Chief Financial Officer ? David Felderhof; and Corporate Secretary ? Suzan Frazer.

Wasserman Ramsey, Chartered Accountants was re-appointed as the Company's auditor to hold office until the next annual meeting of shareholders or until its successor is duly appointed, at a remuneration to be fixed by the Board.

Shareholders approved the renewal of the Company's 10% rolling incentive stock option plan in accordance with the rules and policies of the TSX Venture Exchange ("TSX-V").

Zephyr Minerals Ltd. has applied for a mining permit at its 100% owned high grade Dawson-Green Mountain property in Colorado, USA. After expanding its land package to 1,385 hectares (3,574 acres) the Company now controls a 12.2 kilometer long Dawson Green Mountain mineralized trend. In addition to the Dawson-Green Mountain property, the Company has acquired two Special Blocks in Zimbabwe and is assessing additional opportunities in Zimbabwe.

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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.

SOURCE Zephyr Minerals Ltd.