Zodiac Gold Inc. announced that it has successfully renewed its mineral exploration license MEL 9000118 for its Todi project through the Ministry of Mines and Energy, Republic of Liberia. The renewal extends the license until April 2025. MEL 9000118 covers a total area of 418.5 sq km and is located 20km from the capital city of Monrovia.

With this renewal, Zodiac Gold is positioned to launch a 10,000-meter drill program to further define its Arthington target and test its other drill ready targets. Drilling Update: Zodiac Gold's Phase II drill program consisted of 2,092 m of diamond drilling over 10 drill holes, focusing on drilling in the Garangbase, Deep Mine, Ambulai and Red Hill zones of its Todi Project. Zodiac Gold specifically targeted previously untested zones from near surface to deeper mineralized zones (greater than 180m depth).

Zodiac Gold has now drill tested a substantial strike length spanning approximately 2,400 meters along the 300-meter wide Arthington shear zone. The drill holes from the Phase II program were laid out to intersect, map and model the extensions of shear structures, down dip of mineralization observed along the trenches and artisanal mining pits from surface, with the intention of intersecting gold mineralization, a goal which Zodiac Gold has successfully accomplished from the results received to date. All of the drill cores from Zodiac Gold's Phase II Program have been logged and intervals of core have been sampled.

The core was sawed lengthwise, with one half bagged and sent to an independent lab for analyses, and one half retained for further inspection. On February 29, 2024, Zodiac Gold reported positive initial Phase II drill results from holes ADD023, ADD024 and ADD025 highlighting 9.14 m at 4.20 g/t Au and 10.20 m at 1.23 g/t Au, including 2.81 m at 2.95 g/t Au. Subsequently, on April 9, 2024, Zodiac Gold reported a second round of positive Phase II drill results from holes ADD026, ADD027 and ADD028 highlighting 14.67m at 1.33 g/t Au including 3.00 m at 4.38 g/t Au and 11.00 m at 1.28 g/t Au.

Assay results for a final tranche of four drillholes (ADD029, ADD030, ADD031, ADD032) are pending.