Zeta Resources Limited ('Zeta') is pleased to announce that it has agreed to purchase 20,237,037 shares in Horizon Gold Limited (ASX: HRN) ('Horizon Gold') from Panoramic Resources Limited ('Panoramic') (ASX: PAN).

Horizon Gold is a Western Australian gold exploration company which Zeta believes has good prospectivity. Horizon Gold's principal asset is the 100%-owned Gum Creek Gold Project, located 640km north east of Perth. Gum Creek has historically produced over 1Moz of gold and hosts JORC 2012 Resources of 15.9 Million tonnes averaging 2.7g.t gold for 1.39 million ounces of gold (refer to Horizon Gold's 2019 Mineral Resource and Reserve statement dated 12 July 2019).

The acquisition of these shares more than doubles the Horizon Gold shares held directly by Zeta from approximately 20.1% to 46.6%. However, the acquisition does not change Zeta's existing relevant interest in Horizon Gold with Zeta's relevant interest and voting power in Horizon Gold remaining at 71.13%. The Horizon Gold shares are being acquired at A$0.27 per share.

Contact:

Dugald Morrison

Email: contact@icmnz.co.nz

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