Zenith Minerals completes sale of Develin Creek interest to QMines

Zenith Minerals Limited (ASX:ZNC) has successfully completed the sale of its remaining 49% interest in the Develin Creek Copper-Zinc Project to QMines Limited (ASX:QML) for a consideration of $975,000 in cash and 10,261,194 QMines shares. The shares are subject to a 5-month voluntary escrow period, cementing a collaborative relationship between the two companies.

Andrew Smith, Managing Director of Zenith Minerals, on the sale completion

We are pleased to have finalised the sale of Develin Creek to QMines. This transaction represents the culmination of a productive collaboration with QMines and underscores our ongoing commitment to delivering value to our shareholders. We are excited about the continued growth and development of the Develin Creek project under QMines' stewardship.

Completion of sale and future prospects

Zenith Minerals Limited (ASX:ZNC) has successfully completed the sale of its remaining 49% interest in the Develin Creek Copper-Zinc Project to QMines Limited (ASX:QML) for a consideration of $975,000 in cash and 10,261,194 QMines shares. The shares are subject to a 5-month voluntary escrow period, cementing a collaborative relationship between the two companies. The proceeds of the sale will be used to fund Zenith's pipeline of gold and lithium assets with drilling expected to commence at DFN in the next fortnight. The completion of this sale marks a significant step for Zenith Minerals, and the company looks forward to the continued growth and development of the Develin Creek project under QMines' stewardship.