Waraba Gold Limited — Capital/Financing Update 2020

Sep 24, 2020

Zenith Exploration Inc.

Suite 1080, 789 West Pender Street Vancouver, BC V6C 1H2

NEWS RELEASE

ZENITH EXPLORATION INC. AMENDS TERMS OF WARRANTS

Vancouver, BC – September 23, 2020 – Zenith Exploration Inc. (CSE: “ ZX ”) (“ Zenith ” or the “ Company ”) today announces its intention to amend the term of the warrants (the “ Warrants ”) issued as a part of the Company’s private placement which closed on May 22, 2020.

The Company has received written approval from the warrant holders to amend the terms and conditions of the Warrants by adding the following clause:

“The Holder agrees that it shall be prohibited from exercising any Warrants represented by this Warrant Certificate if the aggregate number of common shares of the Company owned or controlled, directly or indirectly, by the Holder and any affiliates of the Holder (including common shares of which the Holder has deemed beneficial ownership), collectively, as a result of such exercise would equal or exceed 10% of the issued and outstanding subordinate voting shares of the Company calculated on the date of exercise of the Warrants.”

All other terms of the Warrants shall remain unchanged.

About Zenith Exploration Inc.

Zenith Exploration Inc. is a resource exploration company that is acquiring and exploring mineral properties.

On Behalf of the Board of Directors

ZENITH EXPLORATION INC.

Brent Hahn Chief Executive Officer Telephone: 604-428-7050

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENT This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Zenith Exploration Inc., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the

Zenith Exploration Inc. News Release

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date of this press release and Zenith disclaims any intent or obligation to update publicly any forwardlooking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.