On February 27, 2024, Zenith Minerals Limited advised that, further to its announcement dated February 22, 2024, it has received the notice from a group of shareholders, Pauline Tilbrook, John Bevan Tilbrook, John Edwin Tilbrook, and Grey Willow Pty Ltd, under section 249D of the Corporations Act 2001 (Cth) seeking the removal of a board member. The Company stated that it is considering the notice under the Corporations Act and added that shareholders will be provided with updates as required. The Company also stated that Michael Clifford is the only current Executive Director of the Company, and his immediate removal would be detrimental to the Company.

The Company?s Board considers that the depth of technical and corporate experience and knowledge brought to the Company by Michael Clifford cannot easily be replaced. The Company stated that its Board supports Michael Clifford and does not believe the removal of Michael Clifford as a director is in the best interests of the Company as a whole.