ZENITH MINERALS LIMITED — Director's Dealing 2014

Mar 20, 2014

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity ZENITH MINERALS LIMITED

ABN 96 119 397 938

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael Joseph Clifford
Date of last notice	19 March 2014

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect interest in fully paid ordinary shares Direct interest in unlisted options
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Cobalt Consulting Pty Ltd - Registered holder of fully paid ordinary shares. M.J Clifford is a director of Cobalt Consulting Pty Ltd
Date of change	21 March 2014
No. of securities held prior to change	Nil Direct ordinary shares 119,939 Indirect ordinary shares
Class	Ordinary shares and unlisted options
Number acquired	1,693,814 ordinary shares and 1,000,000 unlisted options
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	For ordinary shares consideration is 25 million shares in S2M2 Coal Pty Ltd. Value of ZNC shares issued on 20 March 2014 at closing price of $0.08is$135,505
No. of securities held after change	Nil Direct ordinary shares 1,813,753 Indirect ordinary shares 1,000,000 Unlisted options exercisable at 13 cents

• See chapter 19 for defined terms.

01/01/2011Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change - Listed shares acquired in exchange for transfer of Example: on-market trade, off-market trade, exercise of options, issue of S2M2 Coal Pty Limited shares to Zenith Minerals securities under dividend reinvestment plan, participation in buy-back Limited. -Unlisted options are issued as part of managing director contract remuneration

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011