Zephyr signs agreement with Mackie Research Capital

Trading Symbol:  TSX-V: ZFR 
Shares Outstanding: 33,395,961

HALIFAX, Oct. 20, 2016 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSX-V: ZFR) (OTC: ZPHYF) is pleased to announce an agreement (the "Agreement") with Mackie Research Capital Corporation ("Mackie") to provide market maintenance services for Zephyr in compliance with regulatory guidelines. Mackie will provide market stabilization and liquidity services of the shares on the TSX Venture Exchange.

In Agreement consideration for their services, Zephyr agrees to pay Mackie $3,000 per month. The Agreement will continue in effect unless terminated by either party with a written notice of 30 days. There are no performance factors contained in the Agreement and Mackie will not receive any shares or options from Zephyr as compensation for the services it will render. Zephyr and Mackie are unrelated and unaffiliated entities, but Mackie may provide investment banking services to Zephyr and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Zephyr. The Agreement is subject to regulatory approval.

Mackie is one of Canada's largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies. For further information, please contact Adam Smith at 416-860-7654.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship intrusion related shear hosted high grade Dawson Gold Project in Colorado, USA. Zephyr has commenced engineering and development studies along with additional exploration with a goal of completing a PEA as part of its efforts to advance the Dawson Project with the ultimate goal of production.

To be included in the Zephyr email database for Company updates please contact info@zephyrminerals.com, or visit our website www.zephyrminerals.com for more information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Zephyr Minerals Ltd.