Zephyr Adopts Semi-Annual Financial Reporting
Rhea-AI Summary
Zephyr Minerals (OTC: ZPHYF) will transition from quarterly to semi-annual financial reporting (SAR) under Coordinated Blanket Order 51-933, effective May 1, 2026. The company will stop filing interim statements for periods ended March 31 and September 30.
Zephyr will continue to file audited annual financial statements within 120 days of December 31 and six-month interim financial statements and MD&A within 60 days of June 30, and will report material changes under National Instrument 51-102.
AI-generated analysis. Not financial advice.
Positive
- Stops quarterly filings for Mar 31 and Sep 30 periods
- Files six-month interim statements within 60 days of June 30
- Maintains audited annual statements within 120 days of Dec 31
- Aims to reduce administrative and financial reporting burden
Negative
- Less frequent interim disclosure: quarterly to semi-annual reporting
- Investors lose two interim financial checkpoints per year
Halifax, Nova Scotia--(Newsfile Corp. - May 1, 2026) - Zephyr Minerals Ltd. (TSXV: ZFR) (OTC Pink: ZPHYF) ("Zephyr" or the "Company") announces that it will rely on Coordinated Blanket Order 51-933 to transition to semi-annual financial reporting ("SAR"). This framework permits eligible venture issuers listed on the TSX Venture Exchange ("TSXV") to move from quarterly to semi-annual reporting.
By adopting SAR, Zephyr aims to reduce the administrative and financial burden associated with quarterly reporting, allowing management to focus its resources on its exploration and development activities.
As a result, the Company will no longer file interim financial statements and related Management's Discussion and Analysis ("MD&A") for the three- and nine-month periods ended March 31 and September 30. The Company will continue to file audited annual financial statements within 120 days of December 31, and six-month interim financial statements and related MD&A within 60 days of June 30.
The Company remains committed to timely and transparent disclosure and will continue to report all material changes and significant developments in accordance with National Instrument 51-102 – Continuous Disclosure Obligations.
This news release is being filed pursuant to Coordinated Blanket Order 51-933 – Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
About Dawson Gold Property
The Dawson Gold Deposit hosts an Inferred Mineral Resource1 prepared in accordance with National Instrument 43-101 ("NI 43-101") of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold at a 5 g/t cut-off with no top cut, and 116,300 ounces of gold at 10.55 g/t with a 40 g/t top cut. The estimate has an effective date of July 19, 2013. No updates to the resource estimate have been made to incorporate the results from drilling programs completed between 2017 and 2020.The deposit is open at depth, with exploration potential to the east and west. A Preliminary Economic Assessment2 ("PEA") was prepared in accordance with NI 43-101 with an effective date of March 21, 2017. Utilizing a gold price of
About Zephyr Minerals Ltd.
Zephyr Minerals is mission focused on obtaining a mining permit for its
Notes
1 The Report is titled Resource Estimate Technical Report for the Dawson Property Fremont County, Colorado, USA, dated September 6, 2013, and was prepared for Zephyr by Andrew Hilchey, P.Geo., Mercator Geological Services Limited, Isobel Wolfson, M.Sc., P.Geo, and Mark Graves, P.Geo..
2 The report is entitled "National Instrument 43-101 Technical Report for the Dawson Property, Colorado, USA", effective March 21, 2017 (the "Technical Report"). The Technical Report was prepared by independent engineering firm, Golder Associates Ltd., with input from a number of other specialized and experienced consulting firms, and is in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. This PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There has been insufficient drilling to define the inferred resources as indicted or measured mineral resource; however, it is reasonable to expect that the inferred mineral resources could be upgraded to indicated and possibly measured resources with continued drilling. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.
Qualified Person
Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), a Director of the Company, and a Qualified Person as the term is defined under National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this press release.
For further information please contact:
Loren Komperdo, President & CEO
T: 902 706-0222
info@zephyrminerals.com
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. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295422