ZEOTECH LIMITED — Capital/Financing Update 2022

Dec 7, 2022

8 December 2022

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LAND ACQUISITION AGREEMENTS SIGNED TO ACCELERATE TOONDOON KAOLIN PROJECT DEVELOPMENT

Emerging mineral processing technology company, Zeotech Limited (ASX: ZEO, “Zeotech” or “the Company”) is pleased to advise it has signed land purchase agreements (“Agreements”) for the freehold land underlying the Company’s approved Mining Lease (ML 80126) at the high-grade Toondoon kaolin project (“Toondoon” or “the Project”)), located in the North Burnett District of Queensland.

HIGHLIGHTS

• Agreements executed to acquire the underlying freehold land covering the whole of the Company’s approved Toondoon ML as well as overlapping the adjacent Exploration Permit for Minerals (EPM 27395 & 27866).

• Agreements expected to accelerate time to mining, streamline approval processes, optimise site access, and provide an efficient pathway to potentially expand the highgrade kaolin resource, which remains open in all directions.

• Toondoon hosts one of the highest-grade raw ore kaolin deposits held under an approved ML in Australia.[1]

• Opportunities for Direct Shipping Ore (DSO) of Toondoon’s near surface high-grade raw ore kaolin being assessed - Management engaged in advanced discussions with counterparties in India.

• Toondoon’s high-grade kaolin resource offers an integrated supply of optimal feedstock for the production of manufactured zeolite.

Zeotech, Managing Director Peter Zardo said:

“We are pleased to have secured the underlying freehold land which covers the Toondoon project’s approved Mining Lease, which highlights a major de-risking initiative for the Company.”

“Following the settlement of the Toondoon project acquisition in August, this is yet another key milestone that will accelerate development of the project, by facilitating greater control over approvals needed to commence a low-impact kaolin mining operation.”

Toondoon kaolin project overview:

The Toondoon project consists of a granted ML together with two granted EPMs across 28,000ha, and hosts one of the highest-grade raw ore kaolin deposits held under an approved ML in Australia.

1 ASX release 23/08/2021 “ZEO Acquires High-Grade Kaolin Project within Approved ML”

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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The Project is located in southeast Queensland, approximately 20km south of the township of Mundubbera and around 230km from the port of Bundaberg, 300km from the port of Gladstone, and 350km from the port of Brisbane. Access to the Project is by sealed road to within 5km of the deposit.

TOONDOON KAOLIN PROJECT

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Land acquisition^
ML 80126
EPM 27866
EPM 27395
^ approximate boundary
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The Company has executed Agreements to acquire the underlying freehold land of approximately 682ha which covers the entirety of the project’s existing’s ML as well as overlapping the adjacent EPMs. The underlying land provides direct access to local roads and water sources which will be necessary for future mining operations.

The acquisition accelerates time to mining and further de-risks the Toondoon project. Further, the Agreements will provide the Company with the opportunity to potentially expand the high-grade kaolin resource in the neighbouring EPMs, which remains open in all directions.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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Activity associated with traffic impact assessments, mine planning, pit design, environmental authority and cultural heritage plans continue to progress, and direct ownership of the land is anticipated to streamline these processes.

Toondoon’s high-grade kaolin resource offers the Company an integrated supply of optimal feedstock for the production of manufactured zeolite and continues to assess opportunities for Direct Shipping Ore (DSO) of the projects near surface raw ore kaolin.

Zeotech remains engaged in positive discussions with prospective DSO counterparties located in India.

This announcement has been approved by the Board.

• End -

For further information please contact:

Peter Zardo – Managing Director peter@zeotech.com.au Tel: (+61) 7 3181 5523

Neville Bassett - Company Secretary info@zeotech.com.au Tel: (+61) 7 3181 5523

About Zeotech

Zeotech Limited (ASX: ZEO) is a team of dedicated people, working together to build a future focused company, leveraging proprietary technology for the low-cost production of advanced materials ‘manufactured zeolites’ to deliver solutions aimed at addressing sustainability challenges.

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Forward-looking Statements

This release may contain certain forward-looking statements with respect to matters including but not limited to the financial condition, results of research and development, operations, and business of Zeotech and certainty of the plans and objectives of Zeotech with respect to these items.

These forward-looking statements are not historical facts but rather are based on Zeotech current expectations, estimates and projections about the industry in which Zeotech operates, and its beliefs and assumptions.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au

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Words such as "anticipates," "expects," "intends," “potential,” "plans," "believes," "seeks," "estimates", "guidance" and similar expressions are intended to identify forward looking statements and should be considered an at-risk statement.

Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the endeavour of building a business around such products and services.

These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of Zeotech, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

Zeotech cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Zeotech only as of the date of this release.

The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. Zeotech will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

www.zeotech.com.au

Zeotech Limited | ASX: ZEO ACN 137 984 297 Level 27, Santos Place, 32 Turbot Street, Brisbane QLD 4000 P: +61 7 3181 5523 | E: info@zeotech.com.au