Zodiac Gold Continues to Report Positive Phase II Drill Results, Highlighting 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

Toronto, Ontario--(Newsfile Corp. - April 9, 2024) - Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company") is pleased to report additional positive results from its ongoing Phase II Drill Program consisting of assay results from three recently completed diamond drill holes at the Company's Arthington Target.

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. In 2022, the Company completed a 3,465m Phase I Drill Program targeting an 800m strike at Arthington which intersected multiple intervals of gold mineralization in 20 of 22 holes including the highest-grade interval drilled to date: ADD007, which intersected 7.5 g/t over 9.65m from 87.35m.

Phase II Drill Program Initial Results

The Company is currently conducting a 2,000m Phase II Drill Program at Arthington targeting the Garang Base, Red Hill, Deep Mine and Ambulai zones. On February 28, 2024, the Company reported positive results from the first three completed Phase II drill holes (ADD023, ADD024 and ADD025), including 9.14m at 4.20 g/t Au and 10.20m at 1.23 g/t Au, including 2.81m at 2.95 g/t Au. Today, the Company is pleased to report assay results from three additional drill holes (ADD026, ADD027, and ADD028) which successfully intercepted multiple intervals of shear zone-hosted gold mineralization confirming the down dip extension. ADD027 confirms the down dip extension of the mineralization observed in ADD024 (25.90m at 2.10 g/t Au) down to a vertical depth of 150m and ADD28 confirms the down dip extension of the mineralization observed in ADD003 (10m at 1.01 g/t Au) down to a vertical depth of 180m emphasizing strong potential for both down dip extension of mineralization and along the 1,000m strike including Garang Base and Red Hill zones, part of 4+km Arthington Target.

These three drill holes (see below) revealed shear-hosted gold mineralization with intercepts cutting through multiple shallowly (~35⁰- 45⁰) dipping mineralized zones associated with shears across a 300m wide corridor of the 4+ km Arthington Shear Zone. This extensive gold bearing zone spans at least 1,000m along strike and reaches vertical depths of 180m as well as 275m along the down dip, illustrating a substantial orogenic gold footprint along the prominent Todi Shear Zone.

Notable mineralized shear structures include intervals in hole ADD027 (14.67 m at 1.33 g/t Au including 3.00m at 4.38 g/t Au) and in hole ADD028 (11.00 m at 1.28 g/t Au), indicating strong mineralization potential. The current drilling program aims to extend the strike length along the Arthington Shear Zone to at least 2,400 meters, encompassing both the Deep Mine and Ambulai Field zones, which are currently being drilled. The continuity of mineralization is highlighted by distinct intervals in hole ADD026, ADD027, and ADD028 which underscore the significant potential of the Arthington Target and the Todi Project overall.

Figure-1: Map showing significant intercepts at Red Hill and Garang Base zones of the Arthington Target

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Figure-2 Cross section with interpretive geology showing the significant gold intercepts

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Management Commentary

David Kol, President & CEO of Zodiac Gold, expressed enthusiasm about the recent Phase II findings, emphasizing their validation of the Todi Project's substantial potential. "The mineralization that we've found in all six of the Phase II drill holes that we've announced to date is very exciting. We are committed to continue to advance our exploration efforts further along strike to increase resource potential in the Arthington target. We are excited to see the future results over the coming weeks."

Highlights from the initial Phase II drill program include:

Table 1: Significant Intercepts at the Arthington Target

Table 2: Collar Information for the Reported Holes

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.

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