• Zenith Minerals shareholders to receive 1 Forrestania share for every 4.3 Zenith shares held
• Implied offer value of A$0.132 per Zenith share - a 46.7% premium to Zenith's last closing price
• Transaction creates a larger West Australian-focused exploration and development company

Forrestania Resources Ltd (ASX: FRS) has entered into a binding Takeover Implementation Deed with Zenith Minerals Ltd (ASX: ZNC) for a recommended off-market scrip takeover. Zenith shareholders will receive 1 Forrestania share for every 4.3 Zenith shares held, implying an offer value of A$0.132 per Zenith share, a 46.7% premium to Zenith's last closing price. The transaction values Zenith at approximately A$93.5 million on a fully diluted basis. The Zenith Board unanimously recommends the offer to shareholders, subject to certain conditions, including a minimum acceptance condition of 50.1%. Zenith shareholders will retain exposure to exploration, development, and regional consolidation opportunities through their ownership in the combined entity.

The combination with Forrestania is expected to create a stronger and more diversified Western Australian-focused gold company with enhanced scale, strategic positioning, and potential for accelerated development of Zenith's assets.