ZEUS RESOURCES LIMITED — Capital/Financing Update 2024

Nov 17, 2024

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ASX ANNOUNCEMENT

18 November 2024

PLACEMENT

• Firm commitments received for $300,000 via a placement to sophisticated and wholesale investors at $0.008 per share.

• The Placement will include one (1) free-attaching option for every two (2) shares subscribed for under the Placement.

• The options will be exercisable at $0.02 three years after the date of issue.

• Proceeds raised from the Placement will be applied towards further development of the company’s existing projects, new project generation and general working capital requirements.

• Following the Placement the Company will hold a pro-form cash balance of approximately $2.3m which will fund development plans.

Zeus Resources Ltd (ASX: ZEU, “ Zeus ”, the “ Company ”) has today allotted the shares of the recent Share Purchase Plan (“ SPP ”), which was oversubscribed. The Board thanks shareholders for their support and confidence in our strategic direction and the potential for the Company.

Building on this momentum, the Board, in consultation with key stakeholders and our corporate advisors, has decided to implement a further strategic placement of $300,000 (before costs) via a placement of fully paid ordinary shares to sophisticated and wholesale investors (“ Placement Participants ”) at $0.008 per share (“ Placement Shares ”) with one (1) free attaching option for every two (2) Placement Share subscribed (“ Placement ”). The options will be exercisable at $0.02 three years from the date of issue (“ Placement Options ”).

The Company will not be seeking quotation of the Placement Options upon issue.

The Placement will be subject to a refresh of the Company’s placement capacity post the next General Meeting.

Use of Funds

Funds raised under the Placement will further strengthen the Company’s financial position, and will be applied towards:

• Project data compilation

• Geochem, geophysics and mapping

• Drilling & Assay

• Tenement rates & rents

• Tenement Reporting

• Due diligence to assess new projects; and

• Corporate overhead and general working capital requirements.

www.zeusresources.com

Level 1, 9 Bowman St South Perth WA 6151 Ph: +61 412 593 363 ACN: 139 183 190

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Details of the Placement

The Company will issue up to 37,500,000 Placement Shares and 18,750,000 Placement Options to Placement Participants.

The issue price of $0.008 per Placement Share represents a discount of 11% to the 30-day volume weighted average price (VWAP) of $0.009 and an 11% discount to the last close price of $0.09. The Placement will raise up to $300,000 before costs.

Lead manager

To facilitate the placement, the Company has engaged GBA Capital Pty Ltd (“ GBA ”) as lead manager to the Placement by way of a Lead Manager mandate entered into on 15th November 2024.

Fees payable to GBA will comprise;

• A capital raising fee of 3% of the gross amount raised

GBA Capital Holdings (AFSL 544680) is an independently owned stockbroking and Capital markets firm based in Sydney and Perth, providing equity sales and trading, corporate advisory to wholesale and corporate clients. GBA is focused on emerging and high growth ASX listed and pre-IPO opportunities.

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

ENDS

www.zeusresources.com Level 1, 9 Bowman St South Perth WA 6151 Ph: +61 412 593 363 ACN: 139 183 190