Zacapa Resources Commences Trading On the OTCQB

March 23, 2022Zacapa Resources Ltd. (TSXV: ZACA, DE: BH0, OTCQB: ZACAF) is pleased to announce that it has successfully completed the cross-listing of its common shares to the OTCQB Venture Market (“OTCQB”). Zacapa’s common shares are now trading on the OTCQB under the ticker symbol “ZACAF”. Investors can find real-time quotes and market information for ZACAF on www.otcmarkets.com. Zacapa continues to trade on the TSX Venture Exchange under the ticker symbol “ZACA” and on the Frankfurt Stock Exchange under the ticker symbol “BH0”.

Adam Melnik, CEO and Director of Zacapa commented: “Zacapa’s listing on the OTCQB Venture Market, within two months post listing on the TSX Venture Exchange, is a significant milestone for the company that importantly will provide a large United States investor base with the opportunity to participate directly in Zacapa’s growth as well as enhance trading liquidity and enhance outreach with the global investment community.”

About OTC Market Group Inc.

The OTCQB is operated by the OTC Markets Group Inc. (“OTC“) out of New York City, New York, and is recognized by the United States Securities and Exchange Commission (“SEC“) as an established public market providing the public with price and financial information. The OTCQB trades over 10,000 United States and global securities and is recognized as the mid-tier of the OTC for early stage and developing companies. To be eligible to trade on the OTCQB, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with United States securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

The OTCQB provides convenience to United States investors, brokers, and institutions seeking to trade in common shares of Zacapa. Inclusion on the OTCQB enables United States investors to easily trade through the broker of their choice and allows companies to improve the quality of information available for investors.

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 Moon, 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

Chief Executive Officer & Director

Zacapa Resources

+1 604 227 5987

melnik@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.