REG - Zenith Energy Ltd - Application for Italy’s largest Uranium Deposits

About this update from Zenith Energy Ltd.

RNS Number : 0306H Zenith Energy Ltd 11 November 2025 November 11, 2025ZENITH ENERGY LTD.("Zenith" or the "Company")Acceptance of Exploration Permit applications for Italy's largest Uranium Deposits: Val Vedello and NovazzaZenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, is pleased to announce that its fully controlled Italian subsidiary, Canoel Italia S.p.A. ("Canoel Italia"), has submitted two applications for exploration permits (permessi di ricerca) covering Italy's two largest uranium deposits, located in the Lombardy region: the Val Vedello deposit in the Province of Sondrio ("Val Vedello") and the Novazza deposit in the Province of Bergamo ("Novazza").HistoryVal Vedello and Novazza were first discovered and developed by AGIP Nucleare S.p.A., a former subsidiary of Italy's national oil company during the period 1959-1982 as part of the Italian National Nuclear Energy Program.The deposits were identified through extensive geomineral exploration campaigns promoted by the Comitato Nazionale per l'Energia Nucleare (CNEN). These programs established Val Vedello and Novazza as Italy's most significant uranium-polymetallic systems, marking an important chapter in the country's scientific and industrial development.GeologyBoth deposits are hosted within Lower Permian volcanic and sedimentary successions developed in fault-controlled extensional basins overlying a metamorphic basement. The mineralisation is vein-hosted and volcanogenic, formed by hydrothermal fluids associated with post-Variscan volcanic activity, which transported and precipitated uranium oxide (pitchblende) together with base-metal sulphides, predominantly sphalerite, along faults and fractures during post-orogenic crustal extension.Historical Development and Resource PotentialExploration by CNEN and AGIP subsidiaries defined estimated resources of approximately 1,000 tonnes of metallic uranium (U) at Novazza and around 6,000 tonnes of uranium oxide (U₃O₈) at Val Vedello, with average grades up to 0.1 % U₃O₈.At Novazza, underground development reached four levels, with over 100 diamond drill holes and more than 6 km of underground workings. Historical studies outlined an Exploration Target of 2.5-3.0 million lb at 0.1-0.2 % U₃O₈.The Val Vedello deposit, about 15 km north of Novazza at h...

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