Zodiac Gold Reports 58 m of Gold Mineralization at Lewis North in Liberia

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1. Disclosure for the quote from the Stewart Thomson article published on May 20, 2026

1. For the quoted article (May 20, 2026), Zodiac Gold Inc. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Key Takeaways

• Zodiac Gold reported 58 m at 3.15 g/t gold at the Lewis North target, including 11 m at 15.40 g/t with 1 m at 158 g/t.
• Exploration has identified broad gold mineralization in three trenches across more than 700 m of strike within Lewis North's 1.8 km gold-in-soil anomaly.
• Zodiac plans to begin drilling at Lewis North this week the newly released trenching results extended the interpreted mineralized zones farther west.
• The Lewis North results add to exploration activity across Zodiac's 16 km Monterra Trend in Liberia.

Zodiac Gold Extends Lewis North Gold Mineralization With New Trenching

On September 15, 2026, Zodiac Gold Inc. (ZAU:TSX.V; ZAU:XFRA; ZAUIF:OTCQB) reported additional trenching results from the Lewis North target at its Todi Gold Project in Liberia. Notably, the company reported that trench LWT003 returned 58 m (meters) at 3.15 g/t Au (gold), including 11 m at 15.40 g/t Au, with a 1 m sample grading 158 g/t Au. The trench is located roughly 310 m west of the previously reported LWT001 trench, extending the interpreted mineralized zones along strike.

Results from LWT001, LWT002, and LWT003 have identified broad gold-mineralized intervals in trenches across more than 700 m of strike within Zodiac's 1.8 km (kilometer) Lewis North gold-in-soil anomaly. The latest results also extend the interpreted mineralized system farther west, while trench LWT005 has been excavated and sampled another 375 m west of LWT003 to test for continued mineralization along strike.

The higher-grade interval at LWT003 is within weathered banded iron formation (BIF), a rock type considered a favorable host for gold mineralization in greenstone terranes. Additional mineralization was identified in amphibolite, another recurring host along the company's 16 km Monterra Trend. Zodiac believes that the combination of broad widths, higher-grade zones, and favorable host rocks has made Lewis North a priority target for drilling.

Lewis North is part of a broader exploration area that also includes the parallel 1.8 km Lewis South trend. Previous trenching at Lewis South returned 84 m at 0.51 g/t Au, including 30 m at 1.04 g/t Au. Zodiac's Phase 1 diamond drilling program at Lewis South began in July, while drilling at Lewis North is scheduled to begin this week. The company is conducting a 3,600 m trenching program across the Monterra Trend to advance priority gold-in-soil anomalies toward drill testing.

David Kol, President and CEO of Zodiac, said in the release, "Trench LWT003 delivers a significant result for Lewis North because it brings together exceptional grade, substantial width, and growing evidence of continuity along the trend. With three trenches now returning wide zones of gold mineralization across more than 700 meters of strike, a 1.8-kilometer gold-in-soil anomaly, favorable BIF and amphibolite host rocks, and additional trenching already completed farther west, Lewis North has emerged as an increasingly compelling priority target. These encouraging results strengthen our confidence in the scale and potential of Lewis North and provide a strong foundation for the upcoming drill program as we continue to systematically unlock the broader 16-kilometer Monterra Trend."

Zodiac Gold Inc. is a West African gold exploration company focused on the Todi Gold Project in Liberia. The company asserts that Liberia is a politically stable, mining-friendly country with an expedited permitting process and strong political and social support for mining.

Gold Prices and Exploration Activity Remain Key Sector Drivers

In an exclusive conversation with Streetwise Reports, management of Zodiac remarked on the importance of location in the company's success strategy.

The company said, "West Africa hosts over 450 Moz (million ounces) of discovered gold across 70+ deposits over 1 Moz, making it the largest Paleoproterozoic gold-producing region in the world. Liberia is one of the least explored regions within this prolific belt, with strong potential for the discovery of +1 Moz deposits. The country is politically stable with a mining-friendly code, 25% corporate tax, 3% royalty, and 100% repatriation of profits. Gold prices at record highs provide a strong macro tailwind for exploration-stage companies advancing district-scale discoveries."

Junior miners and exploration companies hit the ground running this year after gold rallied to above US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, prices are still up 16% compared to August 2025.

Technical Analyst Stewart Thomson gave Zodiac a "Speculative Buy" rating, with a short-term price target of CA$0.45, a medium-term price target of CA$0.75, and a long-term technical price target of CA$1.00.¹

Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold's momentum and lift it back towards US$4,500/oz or above."

On September 15, 2026, Trading Economics reported that gold prices rested near a five-week low at US$4,300 per ounce after oil prices grew higher, raising expectations for an interest rate hike from the U.S. Federal Reserve, which came on Wednesday.

The article said: "Oil prices extended their gains as Saudi Arabia’s East-West pipeline remained shut, while Ukraine disputed President Trump’s claim that it had already reached an agreement with Russia to halt attacks on energy infrastructure. Rising energy prices fueled inflation concerns and increased pressure on the Fed to tighten policy, with markets currently pricing in roughly a 92% chance of a 25-basis-point rate hike on Wednesday."

The article continued: "The U.S. 10-year Treasury yield also climbed toward 5% amid inflation and fiscal concerns, adding further pressure on non-yielding bullion."

However, the metals sector as a whole is showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today  said that the World Bank Group has projected that its metals and minerals price index will rise 17% in 2026.

Analyst Sees Exploration Potential at Zodiac's Todi Project

¹On May 20, 2026, Technical Analyst Stewart Thomson gave Zodiac a "Speculative Buy" rating, with a short-term price target of CA$0.45, a medium-term price target of CA$0.75, and a long-term technical price target of CA$1.00.

Thomson noted that "early results appear to highlight significant potential for the project."

Lewis North Drilling Adds Near-Term Exploration Catalyst

Drilling at Lewis North is anticipated to begin this week, but it's not the only catalyst investors are paying attention to.

Company management believes that potential investors should consider who has already invested in Zodiac, as the ownership structure often demonstrates confidence in future performance. Strong insider ownership of 30% aligns management with shareholders, and the company board includes prominent mining fund manager Larry Lepard, accomplished mining executive Brett Richards, and veteran geologists.

Ownership & Share Information²

Zodiac Gold Inc. has a market cap of approximately CA$65.69 million, with 184.76 million shares outstanding. The company's 52-week range is CA$0.13-CA$0.44.

Management & Insiders own 30% of shares, while Institutions own 10%.

Frequently Asked Questions

Q: What is the Todi Gold Project?
A: The Todi Gold Project is Zodiac Gold's exploration property in Liberia and includes the Monterra Trend, a 16 km exploration corridor containing extensive gold-in-soil anomalies and multiple targets.

Q: What did Zodiac Gold discover at Lewis North?
A: Zodiac reported that trench LWT003 returned 58 m grading 3.15 g/t gold, including 11 m at 15.40 g/t gold with a 1 m interval grading 158 g/t gold.

Q: What is a gold-in-soil anomaly?
A: A gold-in-soil anomaly is an area where soil samples contain elevated concentrations of gold compared with surrounding background levels, potentially indicating underlying mineralization.

Q: What is a trenching program in mineral exploration?
A: Trenching involves excavating shallow cuts across a prospective mineralized zone and collecting samples to determine the width, grade, and continuity of mineralization near surface.

Q: What does g/t mean in gold exploration?
A: Grams per tonne (g/t) is a common measurement of the concentration of gold in rock, with 1 g/t representing one gram of gold per metric tonne of material.

Q: What is a strike length?
A: Strike length refers to the horizontal distance over which a geological structure or mineralized zone extends along its general direction.

Q: How extensive is the Lewis North target?
A: Lewis North contains a 1.8 km gold-in-soil anomaly, while trenching has identified broad gold-mineralized intervals in three trenches across more than 700 m of strike.

Q: Why are the BIF and amphibolite host rocks relevant?
A: Banded iron formation (BIF) and amphibolite are rock types that can host gold mineralization, and amphibolite has been associated with mineralization along Zodiac's Monterra Trend.

Q: What is the next exploration step at Lewis North?
A: Zodiac plans to begin drilling at Lewis North this week, following trenching that has extended the interpreted mineralized system farther west.

Q: What is the Lewis South target?
A: Lewis South is a parallel exploration trend near Lewis North where previous trenching returned 84 m at 0.51 g/t gold, including 30 m at 1.04 g/t gold. Zodiac began its Phase 1 diamond drilling program there in July.

Q: What is the Monterra Trend?
A: The Monterra Trend is a 16 km exploration corridor within the Todi Gold Project that contains multiple gold exploration targets, including Lewis North and Lewis South.

Q: Why is drilling important after trenching?
A: Drilling can test whether near-surface mineralization identified through trenching continues at depth and can help determine its thickness, grade, and geological continuity.

Q: What are the main catalysts for Zodiac Gold?
A: Near-term exploration catalysts include drilling at Lewis North, ongoing work at Lewis South, and the company's broader 3,600 m trenching program across the Monterra Trend. Drilling at the flagship Arthington discovery will be the anchor for an initial mineral resource estimate aimed toward the end of the year.

Q: Why is gold's price relevant to gold exploration companies?
A: Higher gold prices can improve the potential economics of gold deposits and may increase investor and industry interest in exploration, although exploration companies remain subject to geological, financing, permitting, and development risks.