Zodiac Gold Receives EPA Permit and Mobilizes Drill Rig to Alasala Target

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2024) - Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that it has received its Liberian Environmental Protection Agency (EPA) permit for its proposed drilling program at the Alasala target, part of the Company's Todi Gold Project. Following this significant milestone, the Company has successfully mobilized a diamond drill rig and is set to commence drilling activities at Alasala in the coming days.

"We are thrilled to have obtained the EPA permit and to have our drill rig ready to commence operations at Alasala," said David Kol, CEO of Zodiac Gold. "This achievement is a testament to our team's hard work and our commitment to sustainable and responsible exploration practices. We look forward to advancing our exploration efforts and contributing to the growth and prosperity of Liberia."

After the successful Phase I and II drilling at the Arthington Target, the mobilization of the drill rig to the Alasala target, approximately 16 km west-northwest of Arthington, marks the beginning of the next phase of exploration for Zodiac Gold. Based on the level of artisanal gold mining, historical exploration, recent mapping, sampling, and satellite data interpretation by Zodiac Gold, the Alasala Target is considered to be highly prospective. Zodiac's historical work has reported high-grade gold mineralization, including intercepts of 19.6 meters at 6.17 g/t Au, 6.0 meters at 7.69 g/t Au, and 9.0 meters at 4.46 g/t Au.

As Zodiac Gold embarks on this new chapter, the Company is optimistic about the potential discoveries at Alasala and is dedicated to upholding the highest standards of environmental and social responsibility.

Qualified Person

Tom Dowrick, Director of Exploration at Zodiac Gold, is a Chartered Geologist of the Geological Society of London 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:

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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