Still a relevant issue
Make sure that your have zlib1.dll in your server directory.
There is an option in the update script to download the three required dlls.
In my case, I was compiling 32-bit binaries on win 7 64-bit.
The requirement for zlib1.dll came from switching the mysql libs from static to dynamic (circa. June/July 2015.)
Most cases, it would seem, just report that the dll is missing.
It sounds like something in your %path% also uses zlib1.dll (for me, it was my 64-bit wifi driver..hence the 0xc000007b build mismatch error..a pita to trace...)
If you're building 64-bit binaries, you may run into the reverse issue as I think the suggested zlib1 dll is 32-bit.
Post back if you're still having problems.
EDIT: (sic) btw, an OS update won't fix it :/
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