Zenith Minerals : Interim Financial Report 31 December 2021

For personal use only

Consolidated Interim Financial Report

of

Zenith Minerals Limited

ABN 96 119 397 938

for the Half-Year Ended

31 December 2021

Zenith Minerals Limited

For personal use only

Contents
Corporate Information...............................................................................................................	1
Directors' Report .......................................................................................................................	2
Auditor's Independence Declaration.........................................................................................	12
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income ....	13
Condensed Consolidated Statement of Financial Position ......................................................	14
Condensed Consolidated Statement of Changes in Equity ....................................................	15
Condensed Consolidated Statement of Cash Flows ..............................................................	16
Notes to the Condensed Consolidated Financial Report ........................................................	17
Directors' Declaration ...............................................................................................................	25
Independent Auditor's Review Report......................................................................................	26

For personal use only

Zenith Minerals Limited

Corporate Information

Directors

Michael J Clifford - Director & CEO

Stanley A Macdonald - Non-Executive Director

Julian D Goldsworthy - Non-Executive Director

Company Secretary

Nicholas Ong

Chief Financial Officer

Nicholas Bishop

Registered Office and Principal Place of Business

Level 2, 33 Ord Street

WEST PERTH WA 6005

PO Box 1426

WEST PERTH WA 6872

Telephone: [phone]

Email:[e-mail]

Website:www.zenithminerals.com.au

Auditors

PKF Perth

Level 4, 35 Havelock Street

WEST PERTH WA 6005

Telephone: [phone]

Facsimile: [phone]

Share Registry

Automic Group

Level 5, 126 Phillip Street

SYDNEY NSW 2000

Level 5, 191 St Georges Terrace

PERTH WA 6000

GPO Box 5193

SYDNEY NSW 2001

Telephone: [phone] (Within Australia)

[phone] (Overseas)

Email:[e-mail]

Website:www.automicgroup.com.au/

Securities Exchange Listing

Australian Securities Exchange

Home Exchange: Perth, Western Australia

ASX Code: ZNC

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Zenith Minerals Limited

Directors' Report

onlyThe Directors of Zenith Minerals Limited ("The Company") and subsidiaries ("Consolidated Entity") submit herewith the Interim Financial Report for the half-year ended 31 December 2021. In order to comply with the provisions of the Corporation Act 2001, the Directors' report is as follows:

Directors

The names of the Directors of the Company during the whole of the half-year and up to the date of this report, unless therwise stated are:

Peter J Bird Michael J Clifford

useStanley A Macdonald Julian D Goldsworthy Graham D Riley

Company Secretary

Nicholas Ong

• Executive Chairman (resigned on 30 October 2021)
• Director & CEO
• Non-ExecutiveDirector
• Non-ExecutiveDirector
• Non-ExecutiveDirector (resigned on 30 November 2021)

Review of Operations

personalIn the half year to 31 December 2021, the Company continued to progress its core precious and base metal projects nd refine its portfolio:

For

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Figure 1: Zenith Core Project Locations

Zenith Minerals Limited

onlyuse

personalPost the half-year period the Company announced the Zenith Lithium Joint Venture a major new venture with the EV Metals Group (EVM) - refer to ASX Release 13-Jan-22. Zenith plans to refocus on lithium, and related EV-metals,

backed by EVM.

To allow the Zenith team to focus on EV-metal project generative activities, it is planned that the non-EV-metal projects, including base metal and gold assets will be demerged into one or more new companies to be listed on ASX. Any such demerger will be subject to ZNC Board approval, tax advice favourable to the Company, shareholder, ASX, ASIC and other regulatory approvals. ZNC shareholders to benefit by way of an in-specie distribution of the shares in the new listed vehicle/s. Further updates and information on the demerger will be provided by Zenith in due course.

For

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