Zodiac Gold Announces Closing of First Tranche of Non-Brokered Private Placement and Begins Mobilization for Infill Program

Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) - Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that, further to the Company's news release dated February 6, 2025, it has closed a first tranche of its C$1,000,000 non-brokered private placement (the "Offering") for gross proceeds of approximately C$404,310 (the "First Tranche"). The net proceeds of the Offering will be used to mobilize and launch our Phase III infill drill program at the Arthington target, advance exploration across the Company's three exploration licenses, and for general working capital purposes.

David Kol, CEO, commented, "The successful closing of this first tranche is a key milestone as we accelerate our Phase III infill drill program at the Arthington target. This funding allows us to advance exploration across our licenses, bringing us closer to unlocking the full potential of our Todi project. We remain committed to delivering results that create long-term value for our shareholders."

Pursuant to the First Tranche closing of the Offering, the Company issued 5,775,857 units of the Company (each a "Unit") at a price of C$0.07 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant issued in the First Tranche entitles the holder to purchase one Common Share (a "Warrant Share") at an exercise price of C$0.12 per Warrant Share for a period of 24 months following the closing of the First Tranche.

All securities issued pursuant to the First Tranche closing of the Offering, including Common Shares issuable upon the exercise of Warrants, are and will be subject to a hold period of four months and one day after the date of closing of the First Tranche.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.