Agreement with EV Metals and Refocused Exploration Efforts

Zenith Minerals Limited (ASX: $ZNC) has reached an agreement with EV Metals Limited (EVM) to settle outstanding monies owed to Zenith, related to the former farm-in agreement over the Company's Western Australian Lithium Projects. The settlement, subject to receipt of $400,000 plus GST in two tranches, will enable the company to refocus its exploration efforts following an 18-month hiatus in activity on its Western Australian lithium projects.

Managing Director's Commentary

I'm pleased to report that we have agreed terms with EVM on funds owed to the Company. I'd like to thank the new CEO at EVM for bringing this matter to a close and wish EVM well in their future endeavors, particularly with advancing the development of their Saudi Arabian lithium chemicals plant.

Settlement and Future Exploration Outlook

Zenith Minerals (ASX: $ZNC) has successfully settled outstanding monies owed by EV Metals Limited, allowing the company to refocus its exploration efforts on its Western Australian lithium projects. The settlement, subject to receiving $400,000 plus GST in two tranches, marks a positive step for Zenith. The company's exploration team has identified high-priority lithium exploration targets at the Split Rocks and Waratah Well projects, with plans to recommence drilling on key lithium targets at Split Rocks. This positions Zenith with a solid prospect pipeline going forward. A detailed update on the Company's lithium projects, including strategic review and partner search, is expected in the coming weeks.