Toronto, Ontario--(Newsfile Corp. - April 30, 2024) - Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company") is pleased to report additional results from its recently completed Phase II Drill Program at the Arthington target. The Phase II drilling results confirm the expansion of the mineralized strike length at Arthington to 2.4 km, marking a substantial increase to the previous 1 km strike length, with intercepts of multiple mineralized zones including high grades up to 8.98 g/t Au over 1.05 m. The Phase II Drill Program tested an extension of the Red Hill Zone to the Ambulai Field, extending the confirmed mineralized strike length and showcasing the potential for a significant mineral resource.

The Arthington target is positioned within an 18.5 km long district-scale mineralization trend and is one of the five high-priority, multi-kilometer drill-ready targets situated within the Company's 2,316 km2 Todi gold project (the "Todi Project") located in the Republic of Liberia, West Africa. Between its Phase I and Phase II Drill Programs, the Company has completed a total of 5,565.76 meters of drilling targeting a 2.4 km strike length out of a 4.5 km mineralization trend at Arthington. The drilling intersected multiple intervals of gold mineralization in 29 of 31 holes.

Drilling highlights from Arthington to date include 9.65m at 7.5g/t Au, 6.0m at 10.6 g/t Au, 25.90m at 2.10g/t Au including 9.14 m at 4.20 g/t Au, 5.65m at 4.67 g/t Au, 17m at 1.10 g/t Au, 15.38m at 1.06 g/t Au and 10.20 m at 1.23 g/t Au, 14.67m at 1.33 g/t Au including 3.00 m at 4.38 g/t Au and 11.00 m at 1.28 g/t Au. The Company has intersected gold mineralization in all of the Phase II drill holes reported to date, with results for one drill hole still pending. Notable mineralized shear zones were observed in all of the Phase II drill program, showing continuity of mineralization and underscoring the significant potential of the Arthington target and the Todi Project overall.

Figure-1: Map showing significant intercepts along the mineralized zones of the Arthington Target

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Management Commentary

David Kol, President & CEO of Zodiac Gold, expressed excitement about the recent completion of the Phase II findings, emphasizing their validation of the Todi Project's substantial potential. "We are very pleased with the accomplishments of our VP of Exploration, Efdal Olcer and his dedicated team," Mr. Kol said. "The results of our recently concluded Phase II Drill Program validate the continuity and downdip extension of gold mineralization at the Arthington target, exhibiting significant grades of gold within shear zones. Notably, drill holes ADD023, ADD024, ADD025, ADD026, ADD027, ADD030 and ADD031, penetrated multiple mineralized zones in previously unexplored areas, affirming the anticipated continuation of gold mineralization. This expansion spans a remarkable distance of 2.4 km, highlighting the potential for significant potential resources at the Todi Project. Zodiac Gold is currently designing a Phase III drilling initiative scheduled for the second quarter of 2024, alongside the launch of a geophysical survey program aimed at enhancing exploration and uncovering new mineralized zones."

Table 1: Significant Intercepts from Phase II Drill Program at the Arthington Target

Table 2: Collar Information for the Phase II Drillholes

QA/QC Protocols and Sampling Procedures

The drilling program at Arthington was conducted by a Fordia Eider 2000 diamond drill rig with HQ and NQ diameter core. Core recoveries were excellent throughout the program approaching 100%.

Drill core was transported from the drill site to the Company's exploration camp facility. After geological logging, the core was cut along the long axis by a diamond saw, with half being sampled and half retained. Core sampling was undertaken by Zodiac Gold's Liberian exploration team, supervised by senior staff members of the Company. All core samples met the standards for adequate chain of custody without the opportunity for third party access from the field to the preparation laboratory in Yamoussoukro, Ivory Coast, and then onward to the ALS analytical laboratory in Burkina Faso. Sample preparation was performed by ALS in Yamoussoukro. The entire core sample was dried and then crushed to 70% passing 2 millimeters and a representative split was taken by riffle splitting. The 1,000g split was then pulverized up to 85% passing 75 micron and the required pulp mass of ~200g was bagged and labelled for analysis; with the remainder being stored. Analysis was performed by ALS at their laboratory in Burkina by fire assay with atomic absorption finish with a 50g charge.

In addition to the laboratory's quality control program, a rigorous quality assurance and quality control program was implemented by the Company involving the insertion of blanks, standards and duplicates to ensure reliable assay results. Laboratory standards and QA-QC are monitored by the Company.

About Zodiac Gold

Zodiac Gold, Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi Project situated in Liberia-an underexplored, politically stable, mining-friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 km2 land package. The project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts.

Qualified Person

Efdal Olcer, Vice President of Exploration at Zodiac Gold, is a member of the Society of Economic Geologists, Geological Society of London, Australian Institute of Geoscientists, the Society of Geology Applied to Mineral Deposits, and the Turkish Association of Economics Geologists and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.

For further information, please visit the Zodiac-Gold website at www.zodiac-gold.com or contact:

David Kol
President & CEO
info@zodiac-gold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.

Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.