ZEUS RESOURCES LIMITED — Capital/Financing Update 2023

Apr 13, 2023

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14 April 2023

NEW TENEMENT APPLICATION – MUSGRAVE REGION

Zeus Resources Ltd (ACN 139 183 190) (ASX: ZEU ) (“ Zeus ” or “the Company ”) is pleased to announce that the Company has applied for two new tenements ( E69/4147 and E69/4148 ) approximately 1,000 km northwest of Kalgoorlie and 1,600 km northwest from Perth in the Musgrave region of Western Australia. The tenements cover approximately 281 km[2] and 120 km[2] respectively of the West Musgrave greenstones and granitic rocks that are highly prospective for nickel, gold, REEs and base metals.

“We are pleased about applying for another two tenements in the Musgrave area. These two big new tenements will bring Zeus more diversification in commodities including nickel, gold, REEs and base metals.” said Mr Jian (Daniel) Liu, Executive Director of Zeus .

MUSGRAVE PROJECT (E69/4147 & E69/4148)

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Figure 1: Location map showing Musgrave tenements E69/4147 and E69/4148.

During April 2023 a study of areas of Western Australia that had exploration potential for economic “battery” and precious minerals not already covered by mineral tenements identified two areas in the Musgraves in the far west of Western Australia that have been applied for by Zeus.

As well as having interesting geology they are in the vicinity of several major new development projects including the Babel/Nebo nickel deposits discovered by OZ Minerals and recently taken over by BHP ( ASX: BHP ), the Wingellina cobalt/nickel deposit owned by NiCo Resources Ltd ( ASX: NC1 ) and the Handpump/Mount Squires gold project owned by Caspin Resources Ltd ( ASX: CPN ) .

www.zeusresources.com Suite 107, 25-29 Berry Street North Sydney NSW 2060 Australia Tel: +61 2 8488 3270 ACN: 139 183 190

Geology

Zeus’ two Musgrave tenements lie within one of Australia’s last under-explored and highly prospective frontier regions, the West Musgrave Province, and are prospective for nickel, gold, base metals, precious metals, and lithium mineralisation (Figure 2).

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Figure 2: Regional geology of West Musgraves superimposed on regional RTP aeromagnetics and GSWA MINEDEX mineral localities.

The Musgrave Province orogenic belt lies at the junction of three stable crustal landmasses or cratons (North Australian, West Australian and South Australian cratons) that collided during an active period of plate tectonics in the Proterozoic (Figure 3). During this tectonically active period, magma from the upper mantle intruded the belt forming numerous massive mafic and ultramafic intrusions and volcanics.

The Musgrave Province contains one of the greatest concentrations of mafic–ultramafic layered intrusions globally, among them Mantamaru is one of the world's largest layered intrusions, as well as several eroded remnants of super volcanoes.

These rocks sourced from the mantle are rich in iron, base metals including copper and nickel, gold, platinum group elements (PGE), some rare earth elements (REE), chromite and vanadium. Due to the high iron content of these mafic and ultramafic rocks they have a higher density than the neighbouring crustal cratons and show up as gravity highs on regional gravity maps and as magnetic highs on regional aeromagnetic maps (Figure 4).

The far west of the Musgrave Region, including both of Zeus’ tenements, is largely covered by Recent eluvial and alluvial sands and silts obscuring a large portion of the bedrock geology.

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Figure 3: Block diagram showing the tectonothermal evolution of mafic/ultramafic intrusions from the mantle during the Musgrave Orogeny (after Howard et.al, 2011)

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Figure 4: LHS regional gravity, RHS regional RTP aeromagnetics over West Musgraves (after GSWA)

JACKIE JUNCTION (E69/4147) GEOLOGY

The Jackie Junction tenement bedrock geology is interpreted to be Warakurna Supersuite granites with layered mafics correlated with Giles Complex equivalent mafic rocks, as found at the Babel and Nebo nickel deposits located approximately 80 km to the southeast, crossing the north of the tenement (Figure 5).

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Figure 5: RTP Aeromagnetics and bedrock geology at Jackies Junction E69/4147.

Past Exploration

As with most of the Musgrave region, the Jackies Junction tenement, despite its prospectivity, has only been cursorily explored.

The earliest meaningful exploration within the tenement was by Strzelecki Metals Limited with joint venture partner Tortuga Advisors Limited around 2010. The JV partners conducted and airbourne TMI survey, reconnaissance rockchip and soil geochemical sampling that covered the southern extremities of E69/4147.

About the same period Rubicon Resources Limited (in JV with Vale) were exploring the northern part of E69/4147 concentrating on the Giles Comples layered mafics. Rubicon completed an

aeromagnetic survey followed up by a VTEM Survey then a sahllow Aircore drilling program to test the bedrock lithologies below the surficial sands. Rubicon surrendered their tenements citing a lack of EM conductors.

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Figure 6: Past exploration at Jackies Junction.

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WARBURTON EAST (E69/4148) GEOLOGY

The Warburton East tenement bedrock geology is interpreted to be Bentley Supergroup sediments being overlain by the Lupton Formation to the south (Figure 7).

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Figure 7: Bedrock geology at Warburton East E69/4148.

The tenement lies toward the southwestern margin of the Talbot Sub-Basin, comprising Bentley Supergroup.

The Bentley Supergroup has been interpreted as probable continental volcanic origin, comprising a rift-related sequence of (commonly bimodal) volcanics, sediments and sub volcanic intrusive complexes emplaced over a period of ~50 m.y. (Figure 7).

In the local area, the Bentley Supergroup comprises:

The Pussy Cat Group - comprising the Glyde Hill Formation mafic volcanics and interlayered sediments and the Kathleen Ignimbrite. The Group forms a narrow, arcuate belt that is unconformably overlain to the north by the overlying ‘Scamp Volcanic Association’ and to the south by the volcano-sedimentary Cassidy Group.

The Cassidy Group - forms a narrow arcuate belt of interlayered volcanic and sedimentary rocks that divide into a number of rhyolite flows, separated by thin silty sediments, with basalt units towards the top of the sequence. The uppermost Miller Basalt forms a magnetically distinctive (magnetic high) marker horizon.

The Mission Group - unconformably overlies the Cassidy Group, comprising a series of interbedded clastic and carbonate sediments with basalt and minor felsic volcanic rocks. It forms an arcuate belt approximately 5-10 km wide along the south-western margin of the Musgrave Block and is host to the majority of ‘ Warburton Copper Zone ’ copper occurrence. To the south, the Group is unconformably overlain by the Townsend Quartzite, the lowermost unit of the Officer Basin.

Most known mineralisation in the area comprises copper occurrences associated with the Warburton Copper Zone on the southern margin of the Talbot Sub-basin. The majority of these

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occurrences occur within the Milesia Formation at the top of the Mission Group, comprising mostly basalt with quartzite, shale, and conglomerate. The Milesia Formation outcrops as low-lying SE trending ridges along the south-western margin of the Musgrave Block.

Some copper mineralisation has also been reported in the Pussy Cat Group and the Scamp volcanics (Mount Palgrave Group) to the north.

Past Exploration

Copper mineralisation was first discovered by prospectors in the Warburton area in the early 1960s. The Warburton region was subjected to a major exploration campaign by Western Mining Corporation (“ WMC ”) (1966-71).

Limited mining of narrow chalcocite-rich veins was also undertaken in the 1960’s at the Harry Simms and Thomas Simms mines. Although several companies have since held exploration tenements, work was restricted to geophysical interpretation and did not progress to the active stage.

WMC’s sampling confirmed the presence of copper mineralisation in the form of fine-grained chalcocite occurring in volcanic amygdales and disseminated in fine to medium grained clastic sediments. Their results also confirmed the presence of the broad low grade envelope surrounding the higher grade material. The dominant rock types in drilling are a variably spotted, medium grained, generally massive, mafic to intermediate volcanic rock; and what appears to be a pebbly porphyry clast conglomerate. A striking feature of the core is the predominance of pervasive red hematite alteration occurring in most rock types and often associated with magnetite.

WMC’s exploration was generally focussed on the delineation of the known narrow chalcocite-rich veins associated with cross-faults and the stratabound model does not appear to have been considered. A detailed soil sampling program (1600’ x 160’ grid) was undertaken, however the regional grid failed to delineate these zones.

Rubicon Resources Limited (in JV with Vale) explored the Warburton East tenement 2008 – 2010. Regionally, Rubicon carried out extensive airbourne and ground geophysics as well as detailed soil sampling (Figure 8).

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Figure 8: Past exploration at Warburton East showing Rubicon soil sampling.

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Rubicon reported that their soil sampling, in other areas where WMC had soil sampled and drilled and Rubicon themselves had drilled, did not appear to properly discriminate mineralisation. As a result, their soil sampling results shown in Figure 8 may have missed mineralisation below the soil cover.

Rubicon reported that their soil samples are generally low grade, whereas the Rubicon Auger results picked up anomalous zones. Also, the deeper WMC vacuum sampling show variable, but often strong anomalism which is often not expressed at surface and increases downhole. The Rubicon Auger samples at approximately 1.5m depth often do not pick up the anomalism seen in the deeper vacuum sampling. Rubicon also noted that a number of the anomalies identified in drilling do not have known copper occurrences at surface.

PLANNED EXPLORATION

Once the tenements have been granted and all the necessary agreements with the Traditional Owners and environmental agencies are in place, Zeus intend to carry out reconnaissance mapping and geochemical sampling to determine the outcropping lithologies.

This initial reconnaisance exploration will be followed up with targeted Mobile Metal Ion (MMI) soil sampling, based mainly on interpreting available geophysical data, on appropriately spaced grids to locate any geochemically anomalous areas. The MMI soil sampling technique uses an inovative analytical method that better discriminates metal anomalism in soils that may overcome the difficulties experienced by Rubicon in their soil sampling. Any MMI anomalous areas will be subsequently followed up with Aircore/RAB and eventually RC drilling.

MORTIMER HILLS PROJECT (E09/2147)

The Mortimer Hills Project, approximately 130km northeast of Gascoyne Junction, is located on a highly prospective (lithium, caesium, tantalum) LCT pegmatite bearing belt of metasediments in contact with a regional scale north westerly trending granite, and along strike from Red Dirt Metals’ ( ASX: RDT ) Yinnietharra Lithium Project. Geological mapping by Zeus has shown that pegmatites occur along this contact in the Mortimer Hills tenement.

Zeus are planning to carry out a reconnaissance RC drilling program in the next Quarter to test these mapped pegmatites for lithium and Rare Earth Elements (REEs) once all the necessary approvals have been obtained.

BLUE HILL PROJECT (E59/2804 & E59/2806)

The Blue Hills Project consists of two EL applications ( E59/2804 and E59/2806 ) approximately 60 km west of Paynes Find. The tenements cover approximately 75 km[2] and 15 km[2] respectively of the Warriedar Fold Belt greenstones and granitic rocks that are highly prospective for lithium and REE bearing pegmatites, gold, and base metals.

During a reconnaissance field trip, pegmatite sub-crops were located within E59/2804 that included an indicator mineral beryl that suggests their enhanced prospectivity for lithium.

Once the tenements have been granted, Zeus intend to carry out detailed mapping and geochemical sampling to determine accurately the granite/greenstone contact and locate any pegmatite outcrops.

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This mapping will be initially concentrated in the northwest of E59/2804 where the beryl in pegmatite sample was found.

After the extent of the greenstones has been accurately determined, soil sampling on an appropriately spaced grid will be carried out over the greenstones and adjacent granite to locate any geochemically anomalous areas that will be followed up with RC drilling.

WILUNA PROJECT (E53/1603 & E53/2197)

Geological exploration is continuing at the Wiluna Project, located near the township of Wiluna approximately 540 km north of Kalgoorlie, next to the Lake Way Project (previously owned by Salt Lake Potash Limited ( ASX: SO4 )) and recently acquired by Czech Investment Company Sev.en Global Investments.

Air-core drilling in September 2022 identified a free-flowing aquifer containing sulphate of potash brine flowing in a basal sand paleochannel approximately 3.5 km from the northerly margin of Salt Lake Potash’s Lake Way SOP deposit. This aquifer is suspected to be part of the underground feeder system for Lake Way’s SOP deposit.

Further exploration and activities including a detailed gravity survey and drilling is subject to the granting of the E53/2197 Exploration Licence.

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Competent Person Statement:

The information in this announcement that relates to the Exploration Results is based on information compiled by Mr Phil Jones, who is a Member of the Australian Institute of Geologists (AIG) and Australian Institute of Mining and Metallurgy (AusIMM). Mr Jones is an independent geological consultancy. Mr Jones does not nor has had previously, any material interest in Zeus or the mineral properties in which Zeus has an interest. Phil Jones’s relationship with Zeus is solely one of professional association between client and independent consultant. Mr Jones has experience in exploration, prospect evaluation, project development, open pit and underground mining and management roles. Mr Jones has worked in a wide variety of commodities including gold, lithium, iron ore, phosphate, copper, lead, zinc, silver, nickel and silica in Australia, China, Kyrgyzstan, Indonesia, New Zealand, Malaysia, Papua New Guinea, and Africa. Mr Jones has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Jones consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

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***

Disclaimers

This announcement is provided for information purposes only and is not a prospectus, disclosure document or other offering document under Australian law or under any other law.

The information in this announcement is of a general nature and does not purport to be complete. This announcement does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any securities in the Company.

Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents (together, “ Affiliates ”) disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this announcement including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this announcement, its accuracy, completeness, currency or reliability.

Not investment advice

This announcement is not financial product or investment advice nor a recommendation to acquire or sell securities in the Company. Information in this announcement is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking account of any person’s individual investment objectives, financial situation, or particular needs.

Each recipient of this announcement should make its own enquiries and investigations regarding all information in this announcement including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of the Company and the impact that different future outcomes might have on the Company.

Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek legal, accounting and taxation advice appropriate to their jurisdiction. The Company is not licensed to provide financial product advice in respect of its securities.

Past performance

Past performance of the Company should not be relied on and is not indicative of future performance including future security prices.

Forward looking statements

This announcement may contain certain forward-looking statements. The words ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘plan’, ‘project’, ‘will’, ‘should’, ‘seek’ and similar expressions are intended to identify forward looking statements. These forward-looking statements are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company and its Affiliates. Refer to the ‘Risk factors’ above for a summary of certain risk factors that may affect the Company.

Investors are strongly cautioned not to place undue reliance on forward looking statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the COVID 19 pandemic.

Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Actual results, performance or achievements may differ materially from those expressed or implied in those statements and any projections and assumptions on which these statements are based. These statements may assume the success of the Company’s business strategies, the success of which may not be realised within the period for which the forward-looking statements may have been prepared, or at all.

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No guarantee, representation, or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns, statements, or tax treatment in relation to future matters contained in this announcement. The forward-looking statements are based on information available to the Company as at the date of this announcement. Except as required by applicable laws or regulations, none of the Company or its Affiliates undertakes to provide any additional information or revise the statements in this announcement, whether as a result of a change in expectations or assumptions, new information, future events, results, or circumstances.

Not an offer

This announcement is not an offer or an invitation to acquire securities of the Company or any other financial products. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy securities in the United States or any other jurisdiction where it would be illegal and will not form any part of any contract or commitment for the acquisition of securities.

This announcement has been prepared for publication in Australia only and may not be released to US wire services or distributed in the United States. The securities have not been, and will not be, registered under the US Securities Act of 1933 (the US Securities Act ) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. The distribution of this announcement in the United States and elsewhere outside Australia may be restricted by law. Persons who come into possession of this announcement should observe any such restrictions as any non-compliance could contravene applicable securities laws.

This announcement was authorised for release to the ASX by the Board of the Company.

ENDS

For further information, please contact:

Mr Jian Liu

Executive Director

info@zeusresources.com

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JORC CODE, 2012 EDITION – TABLE 1 REPORT TEMPLATE

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

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Criteria JORC Code explanation Commentary
Sampling  Nature and quality of sampling (eg cut channels, random chips, or specific  Not applicable.
techniques specialised industry standard measurement tools appropriate to the minerals  This announcement discusses the findings of a recent reconnaissance site
under investigation, such as down hole gamma sondes, or handheld XRF visit and data review of the two tenement applications by the Company and
instruments, etc). These examples should not be taken as limiting the broad does not include descriptions of samples that have been collected for
meaning of sampling. chemical or physical testing.
 Include reference to measures taken to ensure sample representivity and the  Pegmatites were identified in outcrop.
appropriate calibration of any measurement tools or systems used.
 Aspects of the determination of mineralisation that are Material to the Public
Report.
 In cases where ‘industry standard’ work has been done this would be
relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay’). In other cases more explanation may be required, such as where
there is coarse gold that has inherent sampling problems. Unusual
commodities or mineralisation types (eg submarine nodules) may warrant
disclosure of detailed information.
Drilling  Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,  Not applicable.
techniques auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard  This announcement does not relate to drilling carried out by Zeus Resources.
tube, depth of diamond tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc).
Drill sample  Method of recording and assessing core and chip sample recoveries and  Not applicable as no details on any drilling carried out by Zeus Resources are
recovery results assessed. included in this announcement.
 Measures taken to maximise sample recovery and ensure representative
nature of the samples.
 Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging  Whether core and chip samples have been geologically and geotechnically  Not applicable
logged to a level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
 Whether logging is qualitative or quantitative in nature. Core (or costean,
channel, etc) photography.
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Criteria JORC Code explanation Commentary
 The total length and percentage of the relevant intersections logged.
Sub-sampling  If core, whether cut or sawn and whether quarter, half or all core taken.  Not applicable
techniques and  If non-core, whether riffled, tube sampled, rotary split, etc and whether
sample sampled wet or dry.
preparation  For all sample types, the nature, quality and appropriateness of the sample
preparation technique.
 Quality control procedures adopted for all sub-sampling stages to maximise
representivity of samples.
 Measures taken to ensure that the sampling is representative of the in situ
material collected, including for instance results for field duplicate/second-half
sampling.
 Whether sample sizes are appropriate to the grain size of the material being
sampled.
Quality of  The nature, quality and appropriateness of the assaying and laboratory  Not applicable
assay data and procedures used and whether the technique is considered partial or total.
laboratory tests  For geophysical tools, spectrometers, handheld XRF instruments, etc, the
parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.
 Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established.
Verification of  The verification of significant intersections by either independent or  Not applicable
sampling and alternative company personnel.
assaying  The use of twinned holes.
 Documentation of primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.
 Discuss any adjustment to assay data.
Location of  Accuracy and quality of surveys used to locate drill holes (collar and down-  Not applicable
data points hole surveys), trenches, mine workings and other locations used in Mineral
Resource estimation.
 Specification of the grid system used.
 Quality and adequacy of topographic control.
Data spacing  Data spacing for reporting of Exploration Results.  Not applicable
and distribution  Whether the data spacing and distribution is sufficient to establish the degree
of geological and grade continuity appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and classifications applied.
 Whether sample compositing has been applied.
Orientation of  Whether the orientation of sampling achieves unbiased sampling of possible  Not applicable
data in relation structures and the extent to which this is known, considering the deposit type.
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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
to geological structure		If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Sample security		The measures taken to ensure sample security.		Not applicable
Audits or		The results of any audits or reviews of sampling techniques and data.		Not applicable
reviews

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement and land tenure status	 	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	  	The Blue Hills project covers an area of approximately 90 km2and comprises two exploration licence applications: E59/2804 and E59/2806. Both the tenements are 100% owned by Zeus Resources. The tenements are both applications with E59/2806 subject to a ballot with four other applicants.
Exploration done by other parties		Acknowledgment and appraisal of exploration by other parties.	 	Numerous exploration parties have previously held portions of the areas covered by the current Zeus tenure. None of this exploration is recorded as being for pegmatite hosted lithium and REE minerals, the main focus of Zeus on the tenements. No other exploration companies generated data that was used in this release.
Geology		Deposit type, geological setting and style of mineralisation.		The tenements lie at the south end of the Warriedar Fold Belt along the contact between the greenstones (metamorphosed igneous rocks and sediments) and granitic intrusives.
Drill hole		A summary of all information material to the understanding of the exploration		Not applicable
Information		results including a tabulation of the following information for all Material drill
		holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in metres) of
		the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth

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Criteria JORC Code explanation Commentary
o hole length.
 If the exclusion of this information is justified on the basis that the information
is not Material and this exclusion does not detract from the understanding of
the report, the Competent Person should clearly explain why this is the case.
Data  In reporting Exploration Results, weighting averaging techniques, maximum  Not applicable
aggregation and/or minimum grade truncations (eg cutting of high grades) and cut-off
methods grades are usually Material and should be stated.
 Where aggregate intercepts incorporate short lengths of high grade results
and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such
aggregations should be shown in detail.
 The assumptions used for any reporting of metal equivalent values should be
clearly stated.
Relationship  These relationships are particularly important in the reporting of Exploration  Not applicable
between Results.
mineralisation  If the geometry of the mineralisation with respect to the drill hole angle is
widths and known, its nature should be reported.
 If it is not known and only the down hole lengths are reported, there should
intercept
be a clear statement to this effect (eg ‘down hole length, true width not
lengths
known’).
Diagrams  Appropriate maps and sections (with scales) and tabulations of intercepts  All the appropriate maps are provided in the body of this announcement.
should be included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
Balanced  Where comprehensive reporting of all Exploration Results is not practicable,  This announcement discusses the findings of a recent reconnaissance site
reporting representative reporting of both low and high grades and/or widths should be visit and data review and does not relate to drilling or assay data.
practiced to avoid misleading reporting of Exploration Results.
Other  Other exploration data, if meaningful and material, should be reported  All the meaningful exploration data has been included in the body of this
substantive including (but not limited to): geological observations; geophysical survey announcement.
exploration results; geochemical survey results; bulk samples – size and method of
data treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work  The nature and scale of planned further work (eg tests for lateral extensions  Once the tenements have been granted, Zeus intend to carry out detailed
or depth extensions or large-scale step-out drilling). mapping and geochemical sampling to determine accurately the
 Diagrams clearly highlighting the areas of possible extensions, including the granite/greenstone contact and locate any pegmatite outcrops.
main geological interpretations and future drilling areas, provided this  After the extent of the greenstones has been accurately determined, soil
information is not commercially sensitive. sampling on an appropriately spaced grid will be carried out over the
greenstones and adjacent granite to locate any geochemically anomalous
areas that will be followed up with RC drilling.
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