Gold Explorer Deploys High-Resolution Liberia Drone Survey

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1. 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.

Zodiac Gold Inc. (ZAU:TSX.V; ZAU:XFRA; ZAUIF:OTCQB) announced the commencement of a drone survey of its Arthington-Youth Camp trend on May 4, 2026. The company will complete a high-resolution drone magnetic and LiDAR survey as a key step in advancing its 2026 exploration of the Todi Gold Project.

The company said, "The 47.8km² survey will be flown on northeast-southwest flight lines at 50m spacing by Axis Drone Surveys, with comprehensive data processing and interpretation to be completed by renowned geophysical consultants, Southern Geoscience Consultants." Arthington has already demonstrated consistency, with gold intersected in 37 of 39 drill holes. By integrating the airborne magnetic and LiDAR surveys, Zodiac Gold can map the controls on mineralization, including ". . . key shears, faults and lithological contacts, while generating a detailed digital terrain model to support both targeting and mineral resource estimation."

David Kol, President and CEO of Zodiac Gold, said in the release: "We've already made a discovery at Arthington, now we're scaling it. This program is about turning that discovery into a repeatable model across 16 kilometers. That's how you move from a single discovery to a district-scale gold system, and that's where real value is created. This survey will give us the data to target smarter, drill more efficiently, and accelerate resource growth."

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 companies.

Gold Keeping Even

On May 4, 2026, Ben Pirie and Nicholas Cortellucci, CFA, for Atrium Research, weighed in on the current metals market, arguing that the market is slightly down due to the ongoing conflict between the U.S. and Iran. They wrote, " The war-driven surge in energy and higher inflation levels have reset rate-cut expectations, which is technically a headwind for gold, yet the metal held its ground. With that said, we remain in a fundamentally new price environment for precious metals versus this time last year, a reality that came into clear focus with Q1 earnings reported this month."

They went on: "Gold was down 1.2%, silver was down 1.9%, and copper extended gains, rising 6.7%. Gold and silver mining equities fell alongside the underlying metals, with GDX
down 3.8%, GDXJ down 3.1%, SILJ down 1.7%, while the COPX was up 4.2%. The TSX gained 3.7% on the month, while the S&P 500 was up 10.7%, as miners underperformed the broader indexes."

There is some evidence that the U.S. dollar is holding strong, even among slight dips. On May 3, 2026, CNBC reported that Han Tan, Chief Market Analyst at Bybit, said, "The dollar edged higher against peers, ⁠making dollar-priced bullion more expensive for other currency-holders. Gold is likely to remain sensitive to the ‌ever-fluid geopolitical landscape, which in turn frames the global inflation outlook." The article goes on to assert that gold is still expected to be higher by the end of 2026 than it was at the end of 2025, which was already at an all-time high.

In a price comparison, Yahoo Finance listed the recent prices of gold as follows: -1.4% one week ago, -2.5% one month ago, and +43.4% from one year ago, showing a strong upward trend.

Projects Moving Forward in 2026

According to the company's investor presentation, Zodiac Gold expects to publish a technical report, including a Mineral Resource Estimate for the Arthington discovery and new data from the Ben Ben to Youth Camp trends, by Q4 2026.

In H2 2026, the company will also follow up on the current soil geochemical program (10,500 samples) in its Bomi South and Cong West licenses, with potential for mapping, trenching, and drilling as warranted. 

Ownership & Share Information¹

Zodiac Gold Inc. has a market cap of CA$58.58 million, with 160.50 million shares outstanding. The company's 52-week range is CA$0.05-CA$0.44. Management & Insiders own 32.53% of shares, and the remaining 67.47% of shares are held by Retail.