Zenith Minerals Limited reported a major new lithium geochemical target at the Split Rocks Lithium Project in Western Australia. The Split Rocks Project is located approximately 40km south of the regional town of Marvel Loch in the Yilgarn Shire of Western Australia and is being explored as part of the Zenith Lithium Joint Venture with EV Metals Group. During 2022 a total of 8,551 geochemical samples were collected across the Split Rocks project area comprised of both auger and soil samples with the sampling method determined by the regolith (nature of the materials present near surface).

Assays have now been received for 6,076 samples, with a further 2,475 samples awaiting assays. To date, first pass sampling, has now covered approximately 25-30% of the project area with additional sampling planned for the 2023 field season. The geochemical sampling program has been successful in defining a major new geochemical anomaly that exceeds the size of the geochemical anomaly surrounding the Rio lithium pegmatite.

The new anomaly ("Cielo") presents a major new lithium target to be drill tested. The Split Rocks Project is located approximately 40km south of the regional town of Marvel Loch in the Goldfields Region of Western Australia and is being explored as part of the Zenith Lithium Joint Venture with EV Metals Group. The project area lies immediately north of the Mt Holland Lithium Project that is being developed by Covalent Lithium (SQM and Wesfarmers).

Drilling as part of an ongoing exploration campaign to scope the size of the host pegmatite and contained lithium mineralisation at Rio has returned significant lithium mineralisation. Pegmatite has now outlined over >2400m length and >2400m width (remaining open), with lithium mineralised zone (>0.1% Li2O) identified over >2100m by 1000m with an open-ended higher-grade (>0.3% Li2O) lithium zone >650m length. Better drill intersections reported to date include ZVCD039 26m @ 1.2% Li2O incl.

13m @ 1.9% Li2O (upper zone) and 23m @ 0.8% Li2O incl. 8m @ 1.3% Li2O (lower zone). Substantial infill and extensional drill programs are planned to commence shortly at Rio.

Next Steps: Planning is in progress for a substantial aircore drill program to test the new Cielo lithium geochemical target. An additional two lithium geochemical anomalies A1 & A2 require further assessment but are likely to represent future drill targets, whilst RC drilling of anomaly A3 is planned for early 2023.