Zephyr Minerals Ltd Announces Non-Brokered Private Placement

Zephyr Minerals Ltd announced that it will undertake a non-brokered private placement to sell up to 2,000,000 units of the Company at a price of $0.15 per unit for gross proceeds of up to $300,000. 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. Closing of the non-brokered offering is anticipated to occur on or before November 30, 2012.