Tillkännagivande • Apr 03

Zenith Minerals Limited Provides Update on the Current Drilling Activities at the Dulcie Far North Gold Project

Zenith Minerals Limited provided an update on the current drilling activities at the Dulcie Far North (DFN) Gold Project, following the commencement of its 40-hole Reverse Circulation (RC) program. Highlights: RC drilling program achieving success and progressing on schedule, with 31 of 40 holes completed and overall completion expected by mid-April 2025. Highest individual assay received to date reported at 13.46 g/t Au in SRRC042. Second stacked lode discovered beneath the main shear with additional footwall-hosted mineralisation confirmed in SRRC048, intersecting: 4m @ 1.44 g/t Au from 123m (5.76 gm), including 1m @ 1.88 g/t Au from 123m and 1m @ 2.69 g/t Au from 126m Southern mineralisation extended by approximately 50m in SRRC042, confirming that the system remains open and supporting further resource growth potential along strike and at depth. Notable intercepts include: 5m @ 1.28 g/t Au from 43m (6.40 gm), including 2m @ 1.97 g/t Au from 45m, 7m @ 2.82 g/t Au from 85m (19.74 gm), including 1m @ 1.66 g/t Au from 86m, and 3m @ 5.28 g/t Au from 88m, including 1m @ 13.46 g/t Au from 88m, 7m @ 0.88 g/t Au from 175m (6.16 gm), including 2m @ 2.25 g/t Au from 76m. Infill drilling improving resource confidence, targeting lower-confidence areas within the existing Inferred Resource. Significant intercepts include: SRRC043: 9m @ 0.71 g/t Au from 67m (6.38 gm), including 1m @ 1.46 g/t Au from 72m; SRRC046: 4m @ 1.18 g/t Au from 83m (4.72 gm), including 1m @ 2.04 g/t Au from 83m and 1m @ 1.80 g/t Au from 86m; SRRC051: 3m @ 1.54 g/t Au from 103m (4.62 gm), including 1m @ 3.13 g/t Au from 104m. Step-out drilling underway, targeting open mineralisation to the north and probing deeper, underexplored footwall lodes that lie outside the current resource model. High-priority regional targets advancing, with POW approvals now secured for Fuego and Nieve. Drill pad preparation is complete, and 4 additional holes have been added to the current program as first-pass tests of these DFN-analogue prospects. The regional potential of Split Rocks remains significant, and Zenith continues to prioritise targets with potential to feed into a broader gold development strategy -- whether as standalone deposits or part of a centralised processing hub. The current RC drill program has also demonstrated that gold mineralisation extends along strike to the south of the current resource, with three mineralised intervals intersected in drill hole SRRC042, including 5m @ 1.28 g/t Au from 43m and 7m @ 2.82 g/t Au from 75m as shown on the long section. Geological Observations from 2025 Drilling Initial holes have intersected altered amphibolite and banded iron formation (BIF) units that host the Dulcie Gold Trend. These intersections are consistent with historical high-grade zones and comprise: Strong foliation and ductile shearing, typical of orogenic gold systems; Pyrrhotite-rich zones, occurring as massive sulphides within BIFs and disseminated within amphibolite; Boudinage textures associated with competency contrasts between lithologies; Calc-silicate alteration, including green hornblende and garnet (almandine), confirming the system's extensive hydrothermal overprint; Consistent dip and orientation, supporting confidence in the current geological model. The Drilling Strategy and Geological Insights: The current 40-hole Reverse Circulation (RC) drilling program at DFN (including 4 regional holes) is central to Zenith's strategy of transforming the project from a modest resource into a potentially standalone development opportunity. To date, 31 of 40 RC holes have been drilled, not including two holes that were abandoned early due to ground conditions and are due to be re-drilled. Three additional holes are scheduled for completion, as well as four holes testing the Fuego and Nieve prospects. This announcement is based on the return of 975 samples which have passed 1st review of QA/QC. Further and more comprehensive QA/QC will be performed upon completion of the program. Of the recently completed drill holes, 6 have returned full assay results, while a further 4 have returned partial assays, with the remaining assays pending. The program was designed following the recent 40% increase in the Inferred Mineral Resource, which lifted the resource to 210,000oz @ 1.3 g/t Au for 5.1million tonnes. That increase highlighted both the scale of the gold system and the opportunity to grow and upgrade the resource further through targeted drilling. The current phase of drilling has four primary objectives: Resource Expansion: Step-out holes are testing extensions of mineralisation along strike to the north and at depth to the west. These areas remain open and under-drilled, with significant potential to add additional ounces. Resource Classification: Infill holes are targeting zones within the existing Inferred resource that were previously classified as lower-confidence due to wide drill spacing. By increasing drilling density, the Company aims to convert a portion of this resource to an Indicated category, supporting future mining studies. Testing Footwall Lodes: Several holes are designed to probe beneath the main shear zone to test a newly identified footwall horizon. Previous drilling (e.g. SRRC035: 10m @ 2.00 g/t Au) indicated the presence of mineralisation in these zones, but they remain largely unclassified. Early indications from the current program -- including new intercepts in hole SRRC048 -- confirm the presence of additional mineralised lodes at depth. Optimising Geological Understanding: Geological interpretation from the current drilling program will help refine the Company's geological model at DFN. This is critical for accurately modelling lode geometry and will feed directly into future scoping and feasibility studies. To deliver these objectives while maintaining financial discipline, the Company has made the decision to cancel the originally planned diamond drilling component. Although diamond core would have provided structural and metallurgical data, it came at a higher cost and longer lead times. By reallocating metres to RC, Zenith is maintaining momentum, preserving capital, and ensuring the program remains focused on resource growth and classification. Further metallurgical and structural data will be collected in future phases using targeted core holes, if required.

VD-lön i procent	79.28%
Anställning som VD	1.9yrs
Ägande av VD	n/a
Ledningens genomsnittliga anställningstid	1.9yrs
Styrelsens genomsnittliga mandatperiod	1.9yrs

Datum	Total ersättning	Lön	Företagets resultat
Dec 31 2025	n/a	n/a	-AU$2m
Sep 30 2025	n/a	n/a	-AU$2m
Jun 30 2025	AU$347k	AU$275k	-AU$3m

Namn	Position	Anställning	Kompensation	Ägarskap
Andrew R Smith	MD & Director	1.9yrs	AU$346.89k	inga uppgifter
Nicholas Bishop	Chief Financial Officer	no data	inga uppgifter	inga uppgifter
James Major	Exploration Manager	less than a year	inga uppgifter	inga uppgifter
Chen Chik Ong	Company Secretary	5.6yrs	inga uppgifter	inga uppgifter

Namn	Position	Anställning	Kompensation	Ägarskap
Andrew R Smith	MD & Director	1.9yrs	AU$346.89k	inga uppgifter
Stanley Macdonald	Independent Non-Executive Director	20.2yrs	AU$50.18k	1.14% € 436.1k
Euan Jenkins	Non-Executive Director	1.5yrs	AU$27.25k	2.38% € 915.1k

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/06/12 14:45
Aktiekurs vid dagens slut	2026/06/12 00:00
Intäkter	2025/12/31
Årlig intjäning	2025/06/30

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Zenith Minerals Förvaltning

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Viktig information

Senaste uppdateringar av ledningen

Less than half of directors are independent

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Recent updates

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Less than half of directors are independent

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New minor risk - Shareholder dilution

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New minor risk - Profitability

New major risk - Market cap size

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First half 2024 earnings released: AU$0.01 loss per share (vs AU$0.011 loss in 1H 2023)

New major risk - Financial position

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Less than half of directors are independent

New major risk - Revenue and earnings growth

Full year 2023 earnings released: AU$0.026 loss per share (vs AU$0.004 profit in FY 2022)

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First half 2023 earnings released: AU$0.011 loss per share (vs AU$0.011 profit in 1H 2022)

Zenith Minerals Limited Announces Further Lithium Pegmatite Drill Results from the Split Rocks Lithium Project in Western Australia

Zenith Minerals Limited Reports a Major New Lithium Geochemical Target At the Split Rocks Lithium Project in Western Australia

Zenith Minerals Limited Announces Resignation of Emma Scotney as Non-Executive Director

Zenith Minerals Announces Significant Gold Assay Results Have Been Returned from the Dulcie Far North Prospect, Within the Company's Split Rocks Gold Project

Zenith Minerals Reports High-Grade Lithium Drill Results at Waratah Well

Less than half of directors are independent

Full year 2022 earnings released: EPS: AU$0.004 (vs AU$0.003 in FY 2021)

Insufficient new directors

First half 2022 earnings: Revenues and EPS in line with analyst expectations

Independent Non-Executive Director Graham Riley has left the company

Insufficient new directors

Full year 2021 earnings released: EPS AU$0.003 (vs AU$0.002 loss in FY 2020)

First half 2021 earnings released: AU$0.003 loss per share (vs AU$0.002 loss in 1H 2020)

Zenith Minerals Limited Announces Drilling Commenced At Red Mountain Gold Project

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Zenith Minerals Limited Appoints Nicholas Ong as Chief Financial Officer

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