Zenith Minerals Limited announced three new significant developments arising from drilling activity at the Earaheedy Joint Venture zinc project located in Western Australia. Doubling the length of the high-grade zinc Colorado Fault Zone to 2.5km. New results include: 12m @ 9.7% Zn + Pb and 4m @ 11.5% Zn + Pb.

Strong new zinc assay results and pending assays (supported by pXRF) from the Magazine Fault Zone. Drilling of a new gravity target returned high-grade zinc within a broader mineralised zone, 1.3km from the Navajoh Prospect. The Earaheedy Zinc project forms a key component of Zenith's base metal and gold portfolio for which an application has been submitted to ASX to be demerged into a separate listed entity (Mackerel Metals), so that Zenith may focus on its core lithium business.

Programs at Earaheedy are conducted under management by JV partner, Rumble Resources Ltd. Work to date has been successful in defining very widespread flat-lying zinc-lead mineralised bodies such as Chinook, Tonka and Navajoh as well as defining multiple discrete, continuous high-grade zinc- lead zones including: Kalitan, Spur, Colorado and Magazine. Next Steps: A further 38 RC and diamond holes from infill and extensional drilling at the Colorado and Magazine Fault Zones, remain to be reported. Early interpretation of the preliminary Airborne Gravity Gradiometric (AGG) data has highlighted the Fault Zones as potentially a series of stacked high grade east-west mineralising structures within the extensive broad mineralised envelope (8km x 2km) at Tonka -Navajoh.

Multiple new targets are being generated from this preliminary data and the Company is currently planning further RC/DDH drilling to test these areas in the near term. Sighter metallurgical test work to develop a preliminary flowsheet for the sulphide flotation concentrate is progressing well. An independent technical study to determine the optimum drill spacing for a maiden resource has commenced.

Further details of these new Earaheedy Joint Venture highlights are detailed in the appended RTR ASX Release dated 30-Aug-22. Update on the 100% ZNC owned Earaheedy Zinc Project (EZP) The Earaheedy Zinc Project (EZP) covers an area of ~673km2 within the emerging Tier-1 base metal province and comprises six granted exploration licences. The Company is well advanced in planning and permitting a maiden reconnaissance drilling programme to test, over 100km of strike of, the highly zinc prospective Frere Formation and Yelma Formation contact.

The contact is one of the key controls to zinc mineralisation at the adjacent Earaheedy Zinc joint venture .