• Zenith Minerals Board unanimously recommends accepting the offer
• Offer price represents a significant premium to recent trading
• Acceptance would provide access to a larger, diversified gold company
• Offer closes on 17 July 2026 unless extended or withdrawn
• Risks associated with the offer detailed in the statement

Forrestania Resources Ltd (ASX: FRS) has made an off-market takeover offer for Zenith Minerals Limited (ASX: ZNC). The offer is for 1 new Forrestania share for every 4.3 Zenith shares, implying a value of 13.2 cents per Zenith share, a premium of 46.7% to the last closing price. The Zenith Board unanimously recommends accepting the offer, citing the premium, potential benefits of joining a larger company, and risks of not accepting. The offer period is scheduled to close on 17 July 2026 unless extended or withdrawn. Zenith shareholders are advised to seek independent professional advice before making a decision.

Takeover Offer Consideration implies a value of 13.2 cents per Zenith Share

The Zenith Board recommends accepting the offer, citing the premium, potential benefits of joining a larger company, and risks of not accepting.