Zenith Minerals : May 2022 Investor Presentation

May 2022

INVESTOR PRESENTATION

For personal use only

Zenith Overview

• • Zenith Minerals Limited (ASX:ZNC) is an Australian based mining company with 100% of the asset located in Western Australia and Queensland.

• • The Company has a strong track record of being an exploration project generator that continues seeking value generation for shareholders through astute acquisition of tenements that not only build on the asset portfolio but importantly compliment the existing land packages.

• • In January 2022, we turned much of our focus towards lithium assets having entered into a joint venture agreement with EV Metals Group, an international organisation committed to becoming a global leader in battery chemicals and technology. EV Metals may earn a 60% interest in the lithium projects represented by two initial 100% owned Zenith Projects, Waratah Well and Split Rocks.

• • EV Metals has committed to spending a minimum $7m on exploration of these two projects, within 24 months along with the completion of a feasibility study#.

• • Planning is progressing for the non-lithium portfolio of assets across the gold and base metal sector to be divested into a new listed investment vehicle to be completed through to listing by August of 2022*

• • Subject to meeting regulatory issues, ASX timetable and shareholder approval

• • #Refer to slide 5 for further details on the joint venture

2

For personal use only

Corporate Overview

Capital Structure | ASX:ZNC

Share Price1

Shares on Issue1

Market Capitalisation1

Cash2

Listed Equities3

• - Listed in 2007

  $0.43

  343.9M

  $150M

  $9.3M

  $14.2M

• - Limiting Shareholder Dilution

• - Tightly Held

  ZNC fully paid ordinary

• - Experienced Board & Management

SharePrice

MajorShareholders4

Directors 3.4%

HSBC Custody Nom. 8.7%

City Corp Nom. 8.3%

BNP Paribas Nom. 6.2%

EV Metals Group 2.9%

1. As of 29 Apr 22

Level 2 / 33 Ord Street, West Perth, WA, 6005

2. As of 31 Mar 22

T: [phone]

W:www.zenithminerals.com.au

Contact Details

3. As of 31 Mar 22

Mail: PO Box 1426, West Perth, WA, 6872

E:[e-mail]

Zenith Minerals Limited ABN: 91 119 397 938

4. As of 31 Mar 22

Demerger of Gold & Base Metal Assets*

Non - Lithium Assets

Earaheedy 25% free carry to BFS

Develin Creek - Cu-Zn

Split Rocks - Gold

Red Mountain - Gold

Cowarra Option - Gold

Privateer - Gold

Others

*Further details refer to ZNC ASX Release 13-Jan-22

For personal use only

ZNC Lithium Joint Venture

*Key commercial terms :

• • Waratah Well and Split Rocks

• • EVM sole funds completion of feasibility study within 24 months, with Zenith retaining a 40% project share.

• • EVM sole funds to decision to mine

• • EVM to arrange financing for future mine incl Zenith's share.

• • Zenith to repay share of project finance incl interest from its share of production.

• • EVM spending minimum of A$7M in 24 months, before able to voluntarily withdraw.

• • If EVM does not complete a feasibility study within 24 months it will not earn an interest.

*Further details refer to ZNC ASX Release 13-Jan-22