Trading Symbol:  TSX-V: ZFR     OTC-ZPHYF
Shares Outstanding: 71,086,985

HALIFAX, NS, Dec. 5, 2022 /CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) ("Zephyr" or the "Company") is pleased to announce that it has closed the recently announced non-brokered private placement raising $320,000 through the issuance of 4,000,000 units at a price of $0.08 per unit. Each Unit consists of one common share and one whole common share purchase warrant (a "Warrant") of the Company (the "Units"). Each Warrant will be exercisable to purchase one common share of the Company for $0.12 for a period of twelve months from the closing date.