Zenith Minerals announced that significant gold assay results have now been returned from the Dulcie Far North Prospect, within the Company's Split Rocks Gold Project, located in the Southern Cross-Forrestania Greenstone Belt of Western Australia. Significant results include: 12m @ 6.07 g/t Au from 108m in SRRC018, incl 5m @ 10.5 g/t Au from 113m; 25m @ 0.56 g/t Au from 69m in SRRC016, incl 3m @ 2.39 g/t Au from 91m; 5m @ 1.49 g/t Au from 30m in SRRC009. The new assay results support previous high-grade gold intersections at Dulcie Far North including: 7m @ 7.8 g/t Au from 90m in ZDRC090, incl 5m @ 10.6 g/t Au from 91m; 8m @ 4.2 g/t Au from 99m in ZDRC098, incl 3m @ 10.7 g/t Au from 103m; 5m @ 7.4 g/t Au from 47m in ZDRC095, and 9m @ 2.0 g/t Au from 57m in ZDRC095.

Dulcie Option to Purchase The recent Dulcie Far North assay results are believed to be sufficiently encouraging to justify Zenith exercising its Option to Purchase 100% rights, title and interests over Mining Lease (ML) 77/1292 off a private syndicate. Consideration to exercise the option is the granting of a 2% NSR royalty over any gold and/or lithium mined below 6m from surface. The private syndicate will retain the rights to any surface laterite gold mineralisation down to 6m below surface.

Next Steps Several critical holes were abandoned ahead of reaching their target depth because of high water flows filling the sumps. Subject to statutory approvals Zenith intend to complete a programme of infill RC drilling and diamond tails in March to fully gauge the size of the mineralising system ahead of undertaking resource modelling within the first half of 2023. Background The Split Rocks Gold Project is located 400km east of Perth and around 80km south of Southern Cross in the Western Australian Yilgarn Craton.

Zenith has an Option to acquire 100% of all the minerals rights (excluding nickel sulphides below 6m from a private syndicate over the package of Dulcie Gold Tenements. Zenith may elect to exercise all or part the Dulcie Tenements at nil cost before February 2023 (unless mutually agreed to extend) and the syndicate will revert to a 2% NSR Royalty.