Zephyr grants incentive stock options

Trading Symbol:  TSX-V: ZFR                                                                  
Shares Outstanding: 24,295,961                                                                         

HALIFAX, March 19, 2015 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSX-V: ZFR); in accordance with the Company's incentive stock option plan, has granted options to officers and directors to purchase 250,000 common shares of Zephyr. The exercise price of the stock options is 15 cents per share. The stock options vest upon grant and will expire 5 years from date of grant. In addition the Company has granted options to a consultant to purchase 50,000 common shares of Zephyr with an exercise price of 15 cents per share. The stock options vest upon successful completion of certain key milestones and will expire in 5 years from the date of grant.

Zephyr's permitting activities continue at the Dawson Gold Project ("Dawson") in Colorado USA, and the Company is currently seeking tenders to complete an underground mine plan for Dawson.  The mine plan will be used to support the permit application.

About Zephyr Minerals Ltd.

Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship Dawson Gold Project in Colorado, USA. Dawson is an advanced stage high-grade gold property with excellent blue sky potential.  In the fall of 2013, Zephyr announced filing on SEDAR a technical report, prepared in accordance with National Instrument -- Standards of Disclosure for Mineral Projects ("NI 43-101") on Dawson.  Zephyr has commenced base line environmental studies as part of its efforts to advance the Dawson Project with the ultimate goal of production, subject in part to a positive economic study.

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.