Mr. David Kol reports

ZODIAC GOLD ANNOUNCES SHARES FOR DEBT SETTLEMENT

Zodiac Gold Inc., further to the company's news release dated March 14, 2025, has received final approval to settle an aggregate of $243,210 owing to certain creditors of the company by issuing a total of 3,474,429 common shares to them at a price of seven cents per common share.

Early warning disclosure

In accordance with the requirements of National Instrument 62-103, John Esopa has filed an early warning report related to his acquisition of 3,165,643 common shares pursuant to the March, 2025, debt settlement for a total purchase price of $221,595. Prior to the March, 2025, debt settlement, Mr. Esopa owned 8,936,280 common shares and 1,458,692 warrants, which represented approximately 8.8 per cent of the common shares outstanding at that time on an undiluted basis and 10.2 per cent on a partially diluted basis, assuming the exercise of the 1,458,692 warrants. Following the March, 2025, debt settlement issuance, Mr. Esopa now owns 12,101,923 common shares and 1,458,692 warrants, representing approximately 11.5 per cent of the common shares outstanding on an undiluted basis and 12.9 per cent on a partially diluted basis, assuming the exercise of the 1,458,692 warrants. Mr. Esopa had acquired the common shares for investment purposes. In the future, Mr. Esopa will evaluate his investment in the company from time to time, and may, based on such evaluation, market conditions and other circumstances, increase or decrease his shareholdings as circumstances require through market transactions, private agreements or otherwise.

A copy of the early warning report filed by Mr. Esopa may be obtained under the company's profile on SEDAR+.

About Zodiac Gold Inc.

Zodiac Gold 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 and iron ore deposits. Strategically positioned along the fertile Todi shear zone, Zodiac Gold is developing a district-scale gold opportunity with additional iron ore potential, covering a vast 2,316-square-kilometre land package. The Todi gold project has undergone derisking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets, of which two have been drilled and high-grade gold intercepts.

We seek Safe Harbor.