Zephyr Minerals Ltd. Awards Drill Contract for Dawson Gold Drill Program

Trading Symbol:  TSX-V: ZFR
Shares Outstanding: 19,138,595

HALIFAX, March 15, 2013 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR) is pleased to announce that it has awarded a diamond drill contract to Godbe Drilling LLC of Montrose, Colorado, to drill up to 15 holes totaling approximately 500 metres.  The drill program is expected to commence in the next several days on the Windy Gulch segment of the Dawson Gold Property. For further details, please see Zephyr news release #03-13, dated February 28, 2013.

On February 28, 2013, Zephyr closed a previously announced private placement to raise $452,009 through the issuance of 2,511,166 units. Investments & Technical Management Limited ("ITM")*, an insider of Zephyr, subscribed for 166,666 units in this private placement.

*Joseph M.R. Berardo is the principal shareholder of ITM.

CAUTIONARY STATEMENT:

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. This press release contains forward-looking statements. More particularly, this press release contains statements concerning the use of funds from the private placement.

The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company, including, with respect to the use of funds from the private placement, expectations and assumptions concerning timing of receipt of required regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the exploration work on the Dawson Gold Property.

The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE: ZEPHYR MINERALS LTD.