Mr. David Kol reports

ZODIAC GOLD ANNOUNCES CONCLUSION OF AVESORO EXCLUSIVITY PERIOD

Zodiac Gold Inc.'s previously disclosed exclusivity period with Avesoro Resources has ended without the execution of a definitive agreement. Following careful review and consideration of current commodity market conditions and the terms of the agreement proposed by Avesoro, the board of directors determined that the proposed transaction was not in the best interests of the company or its shareholders.

Zodiac Gold's chief executive officer, David Kol, commented: "We have decided to focus on defining and expanding the potential resources at the Todi gold project via an extensive resource development drilling program. After extensive negotiations with Avesoro and taking into account the current unprecedented gold price environment, the Zodiac Gold's board unanimously supports this strategy, which it believes provides a better opportunity for delivering increased shareholder value, particularly in light of recent technical progress and upcoming exploration catalysts."

Zodiac Gold thanks Avesoro for its engagement throughout the process and remains open to the possibility of working together in the future under circumstances that appropriately reflect the value and growth potential of the company's assets.

In accordance with the terms of the exclusivity agreement between Zodiac Gold and Avesoro, and subject to the receipt of TSX Venture Exchange approval, Zodiac Gold intends to satisfy its obligation to repay the $200,000 (U.S.) exclusivity payment that Avesoro previously provided to Zodiac Gold by issuing 1,191,489 Zodiac Gold shares to Avesoro. The number of shares to be issued is based on the Bank of Canada exchange rate of $1.4 (U.S.):$1 (Canadian) on Oct. 9, 2025 (being the day immediately prior to the commencement of the exclusivity period), and the 23.5 cents closing price of Zodiac Gold's common shares on the TSX-V on Dec. 18, 2025 (being the day immediately following the expiry of the exclusivity period). The common shares issued to Avesoro will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

About Zodiac Gold Inc.

Zodiac Gold is a West-African gold exploration company focused on its flagship Todi gold 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.

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