Zacapa Appoints Paul Taggar CFO 

August 15, 2022 – Zacapa Resources Ltd. (TSXV: ZACA, OTCQB: ZACAF, DE: BH0) is pleased to announce the appointment of Paul Taggar as Chief Financial Officer (“CFO”), effective September 9, 2022, replacing Lisa Peterson. Mr. Taggar is based in Vancouver and will oversee all accounting and finance operations, while driving sustainable performance that supports Zacapa’s growth.

Mr. Taggar is a CPA with over 15 years of experience within the mining, commodities and professional services industries.  He previously worked for Fronteer Gold until its acquisition by Newmont Mining.  Most recently, Mr. Taggar was the CFO of an international commodities firm, specializing in exports of grain products.  He started his career with KPMG and he holds a Bachelor of Business Administration from Simon Fraser University. 

Zacapa thanks Ms. Peterson for her contributions and wishes her well in her future endeavors.

Zacapa has also granted 300,000 stock options to new employees and officers at a price of $0.23, expiring on January 26, 2027.

About Zacapa Resources

Zacapa is a copper and gold focused mineral exploration company engaged in responsible exploration for the new energy economy. Its projects are concentrated in world class jurisdictions in the southwest U.S., including Arizona, Nevada, and Idaho. The portfolio includes porphyry copper projects at Red Top, Pearl, and Dewdrop and epithermal gold projects at South Bullfrog and Miller Mountain. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development and mine permitting.

For more information, please visit www.zacaparesources.com. All documents are available on Zacapa’s profile page on SEDAR at www.sedar.com.

On behalf of the Board of Directors,

Adam Melnik

Adam Melnik                                                                            Michelle Borromeo

Chief Executive Officer & Director                                            Vice President Investor Relations

+1 604 227 5987                                                                       +1 778 330 3835

melnik@zacaparesources.com                                                   borromeo@zacaparesources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Zacapa believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Zacapa cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Zacapa’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Readers are advised to rely on their own evaluation of such uncertainties. Except as required under applicable securities legislation, Zacapa undertakes no obligation to publicly update or revise forward-looking information.