The file gzip124.tar.Z is Claudio Tantignone's port of gzip-1.2.4 to Minix 2. To install it, type (as bin user)
cd /usr/local/src zcat gzip124.tar.Z | tar xf - cd gzip make make install
Do not configure the sources. It is not necessary and the compilation will fail if you do it. Note: don't use gunzip to decompress (it will compress again); use "gzip -d".