ZENITH MINERALS LIMITED — Share Issue/Capital Change 2021

Sep 29, 2021

[th ] September 2021

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Corporate Details

Zenith Minerals Limited (ASX:ZNC) ABN: 96 119 397 938

Issued Shares	323.1M
Unlisted options	15.7M
Mkt. Cap. ($0.215) Cash (5-Aug-21) Debt	A$69.5M A$7.5M Nil
Investments	A$6.3M

Directors

Peter Bird Exec Chair Michael Clifford Director-CEO Stan Macdonald Non-Exec Director Julian Goldsworthy Non-Exec Director Graham Riley Non-Exec Director Nicholas Ong Co Sec Nick Bishop CFO

Major Shareholders

Directors	6.3%
HSBC Custody. Nom.	9.8%
Citicorp Nom	7.6%
BNP Paribas. Nom.	6.5%
Granich	3.8%

Our Vision

Zenith has a vision to build a gold and base metals business with a team of proven project finders.

Focus is on 100% owned Zenith projects, whilst partners progress multiple additional opportunities using partner funds.

Contact Us

Level 2, 33 Ord Street WEST PERTH WA 6005 PO Box 1426 WEST PERTH WA 6872 Telephone: (08) 9226 1110 Email:info@zenithminerals.com.au Web:www.zenithminerals.com.au

ISSUE OF SHARES AND CLEANSING NOTICE

Zenith Minerals Limited (“Zenith” or the “Company”) advises that it has issued 841,746 fully paid ordinary shares on 30 September 2021, following the conversion of unlisted options with an exercise price of $0.18, as per the Appendix 2A.

Notice pursuant to Section 708A(5)(e) of the Corporations Act 2001

The Company gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that:

1. The Company on 30 September 2021 has issued 841,746 ordinary shares following conversion of unlisted options;

2. The Company issued the Shares without disclosure under Part 6D.2 of the Corporations Act;

3. As at the date of this notice, the Company has complied with:

4. a. The provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

5. b. Section 674 of the Corporations Act; and

6. As at the date of this notice, other than as disclosed above, there is no information to be disclosed which is excluded information of the type referred to in Sections 708A(7) and 708A(8) of the Corporations Act.

For further information please refer to the Company’s website or contact the Company directly.

For further information contact Zenith Minerals Limited:

Directors Michael Clifford or Peter Bird E: mick@zenithminerals.com.au / peter@zenithminerals.com.au (Phone +61 8 9226 1110)

Competent Persons Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Michael Clifford, who is a Member of the Australian Institute of Geoscientists and an employee of Zenith Minerals Limited. Mr Clifford has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Clifford consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Zenith Minerals Limited (ASX:ZNC)

Zenith has a vision to build a gold and base metals business with a team of proven project finders. Focus is on 100% owned Zenith projects, whilst partners progress multiple additional opportunities using third party funds.

Zenith is continuing to focus on its core Australian gold and copper projects including:

Earaheedy Zinc Western Australia 25% free carry to BFS
New major zinc discovery to be fast tracked with extensive accelerated exploration program underpinned by a
recent $40M capital raising by partner Rumble Resources Limited (ASX:RTR) (ASX Releases 28-Apr-21, 2-Jun-21, 8-
Jun-21).
Develin Creek Copper - Zinc Queensland 100% Owned

Inferred Mineral Resource 2.57Mt @ 1.76% Cu, 2.01% Zn, 0.24% Au & 9.6g/t Ag (ASX Release 15-Feb-15). Testing 8 targets with multi-rig drill campaign.

targets with multi-rig drill campaign.
Sulphide City (ASX Release 5-Jul-21).	34m @ 3.5% Cu+Zn	29m @ 3.5% Cu+Zn
	incl 10m @ 6.0% Cu+Zn	incl 12.3m @ 6.7% Cu+Zn
Red Mountain	Gold	Queensland 100% Owned

Drilling is following-up the high-grade near surface gold and silver intersected in the maiden & subsequent drill programs (ASX Releases 3-Aug-20 & 13-Oct-20, 9-Nov-20, 21-Jan-21).

	Results incl:	13m @ 8.0 g/t Au	15m @ 3.5 g/t Au
		5m @ 10.4 g/t Au	12m @ 4.9 g/t Au
Split	Rocks	Gold	Western Australia 100% Owned

Zenith drilling returned - high-grade near surface gold mineralisation at multiple targets (ASX Release 5-Aug-20, 2- Sep-20, 19-Oct-20, 28-Oct-20, 15-Jan-21, 11-Mar-21, 21-Apr-21, 24-Jun-21). Results include:

Dulcie North	32m @ 9.4 g/t Au, incl 9m @ 31.4 g/t Au	32m @ 9.4 g/t Au, incl 9m @ 31.4 g/t Au	16m @ 1.3 g/t Au
Dulcie Laterite Pit	2m @ 14.5 g/t Au		18m @ 2.0 g/t Au
	14m @ 3.5 g/t Au
Estrella	2m @ 9.8 g/t Au
Dulcie Far North	5m @ 5.6 g/t Au		3m @ 70 g/t Au
Water Bore	3m @ 6.6 g/t Au
Scotts Grey	8m @ 4.1 g/t Au		4m @ 4.8 g/t Au
Jackadgery	Gold	New South	Wales Option to 90%

Historic trenching returned 160m @ 1.2 g/t Au. No drilling to date. Zenith planning maiden drill test (ASX Release 10-Sep-20).

Investments

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