Zephyr Minerals Ltd

Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship Dawson Gold Project in Colorado, USA. Dawson is an advanced stage high-grade gold property with excellent blue sky potential.Since acquiring Dawson the Company has completed a successful drill program, completed an independent resource estimate in accordance with National Instrument - Standards of Disclosure for Mineral Projects ("NI 43-101"), commenced baseline environmental studies and finalized necessary metallurgical test work. The corporate strategy is directed toward early assessment of the Dawson's potential to be developed as a small underground mining operation having daily production in the 200 tonnes to 350 tonnes range. When combined with current mineral resources, this production range defines a potential mine life range of 4 to 6 years. With this in mind, Zephyr is planning to complete a Preliminary Economic Assesment ("PEA") of Dawson's small scale mining potential.As part of the PEA the Company has engaged MineTech International Limited to complete a mine plan at a preliminary economic assessment level, the work consists of an open pit mine plan and production schedule at the Windy Gulch segment, and an underground mine plan and production schedule at the main Dawson segment. In addition the Company is planning to develop process flow sheets and a plant design for the deposit.