Zephyr closes private placement

Trading Symbol:  TSX-V: ZFR
Shares Outstanding: 20,847,295

HALIFAX, Sept. 26, 2013 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR) is pleased to announce that it has closed the previously announced private placement to raise $225,000 through the issuance of 1,500,000 units at a price of $0.15 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $0.20 per common share at any time on or before the 12-month anniversary of the closing of the offering.

All securities issued in connection with the private placement are subject to a four-month hold period that expires on January 27, 2014. Net proceeds from the funds raised are expected to be used to advance the Dawson Gold Project, and for general working capital purposes.  The private placement remains subject to final approval of the TSX Venture Exchange.

The Company paid cash finder's fees of $4,600 and issued 30,667 finder's fee warrants to finders acting on behalf of the Company in connection with the private placement. Each finder's fee warrant will be exercisable into one common share of the Company at $0.20 per share, for a period of 12 months from the closing date.

Certain insiders and other officers and directors of the Company subscribed for an aggregate of 633,334 units.

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.