Lodgement of Bidder's Statement - Zenith Minerals

• Forrestania proposes an all-scrip offer for Zenith Minerals.
• Zenith shareholders to receive 1 new Forrestania share for every 4.3 Zenith shares.
• Zenith's board unanimously recommends acceptance of the offer.

Forrestania Resources Limited has announced an off-market takeover bid for Zenith Minerals Limited, offering Zenith shareholders 1 new Forrestania share for every 4.3 Zenith shares they own. The offer values Zenith at approximately $79.14 million based on a 10-day volume-weighted average price of Forrestania shares. The offer is subject to conditions, including a minimum acceptance of 50.1% of Zenith's shares. Zenith's board has unanimously recommended that shareholders accept the offer, highlighting the strategic benefits of the merger, including a consolidated portfolio of gold projects, accelerated development, and increased resource scale.

Forrestania expects the combined entity to benefit from regional scale, accelerated development, and stronger funding capacity.

The merger aims to create a larger and more strategically positioned gold exploration and development company.