EXECUTIVE CHAIRMAN INCREASES STAKE TO MORE THAN 15% of ZACAPA RESOURCES

VANCOUVER, BC, Nov. 28, 2022 /CNW/ - Zacapa Resources Ltd. (TSXV:ZACA.VN) (OTC-BB:ZACAF) (DE:BH0) ("Zacapa") is pleased to announce that Ian Slater, Executive Chairman, has acquired 5,600,000 additional common shares of Zacapa ("Zacapa Shares") in the market on November 25 and 28, 2022. Mr. Slater now has beneficial ownership of, and control and discretion over, directly or indirectly through Slater Capital Corporation, 10,000,000 Zacapa Shares, or approximately 15.9% of the issued and outstanding Zacapa Shares. If Mr. Slater exercises all of the 1,511,110 warrants of Zacapa and the 500,000 options of Zacapa owned by him, he will have beneficial ownership of, and control and discretion over, directly or indirectly, 12,011,110 Zacapa Shares, or 19% of the then issued and outstanding Zacapa Shares, assuming no other convertible securities of Zacapa are exercised and no other Zacapa Shares are issued.