ZENA: Reveille Resources Successfully Admitted to Aquis Growth Market. Zenith Remains Largest Shareholder Following Strong Market Debut

8 July 2026

ZENITH ENERGY LTD.

("Zenith" or the "Company") 

Reveille Resources PLC Successfully Admitted to Aquis Growth Market
Zenith Remains Largest Shareholder Following Strong Market Debut

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed
international energy production and development company, is pleased to provide
shareholders with an update following the successful admission of Reveille
Resources PLC ("Reveille") to trading on the Aquis Growth Market on 7 July 2026.

As previously announced, Reveille was established to pursue uranium exploration
opportunities in Europe, with its initial focus on the Novazza and Val Vedello
uranium exploration permit applications in Lombardy, northern Italy.
Reveille successfully completed its Initial Public Offering, raising gross
proceeds of £2.0 million through the issue of 40,000,000 new ordinary shares at
a price of 5 pence per share, in addition to £680,000 raised through pre-IPO
subscriptions. Upon admission to trading, Reveille had an issued share capital
of 79,900,000 ordinary shares, with an initial market capitalisation of
approximately £4.0 million.

The Company is pleased to note that Reveille's shares have performed strongly
since the commencement of trading on the Aquis Growth Market on July 7, 2026,
reflecting significant investor demand and confidence in the Company's strategy.


The Board believes that this performance demonstrates the value created through
Zenith's decision to separate the Italian uranium opportunity into a dedicated
listed exploration company and has resulted in a significant appreciation in the
value of Zenith's investment. Shareholders can follow Reveille's share price,
market capitalisation and company announcements on the Aquis Stock Exchange
company page at https://www.aquis.eu/companies/REV. 

Zenith holds 20,180,000 ordinary shares, representing approximately 25.26% of
Reveille's issued share capital, making Zenith the largest shareholder in
Reveille. Zenith's entire shareholding is subject to a voluntary 12-month
lock-in.

Andrea Cattaneo, Chief Executive Officer, commented:

"The successful admission of Reveille to the Aquis Growth Market marks the
successful execution of Zenith's spin-out strategy. As an energy company, rather
than a uranium exploration company, we have always believed that the Novazza and
Val Vedello uranium exploration permit applications would achieve their greatest
value within a dedicated uranium exploration company with its own management,
capital and investor base.

Zenith has recovered all of the costs invested in these interests to date while
retaining a 25.26% shareholding, making us Reveille's largest shareholder. In
addition to its equity interest, Zenith holds 18,052,500 warrants over ordinary
shares in Reveille, with exercise prices ranging from 5 pence to 10 pence per
share, providing significant additional exposure to future value creation. The
strong share price performance following the first day of trading, with the
shares closing at a multiple of the IPO price, provides early validation of both
the quality of the opportunity and the strategy we have pursued. Reveille also
benefits from a compact shareholder register comprising strategic institutional
investors, significant Board interests in the share capital (approximately 23%),
and a highly committed and driven shareholder base, providing a strong platform
for the Company's long-term development.

Reveille has the potential to become one of Europe's most important uranium
exploration stories and we look forward to supporting its continued growth while
creating increasing value for Zenith and its shareholders."

Further Information:

Zenith Energy Ltd 

Andrea Cattaneo, Chief Executive Officer	 
Tel: +1 (587) 315 1279
E:       info@zenithenergy.ca

 
Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
energy production, exploration and development assets in North Africa, the US
and Europe. The Company is listed on the London Stock Exchange Main Market (LSE:
ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and on the
Spotlight Stock Market in Sweden (XSAT: ZENA SDR).

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy production assets, as well as
low-risk exploration activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
ion activities in assets with existing production.\
For more information\, please visit: www.zenithenergy.ca\
Twitter: @zenithenergyltd\