Zeus Resources Limited - CASABLANCA ANTIMONY PROJECT EXTENSION OF ACQUISITION AGREEMENT

About this update from Zeus Resources Ltd.

Zeus Resources Limited (ASX: ZEU) ('Zeus' or the 'Company') refers to its market announcements on 10 March 20251 and 9 April 20252 relating to the Company's Casablanca Antimony Project in Morocco . On 7 March 2025 , the Company entered into the Acquisition Agreement with Ashgill Morocco Ltd ('Vendor') and paid the Vendor a cash payment of $25,000 for an exclusive 45 business day option to acquire a 100% legal and beneficial interest in the Project ('Option'). On 1 May 2025 the Company announced that an agreement to extend the end date by a further 30 business days to 24 June 2025 to assist in facilitating completion of third-party approvals necessary ('First Extension'). The Company and the Vendor have now agreed to extend the end date by a further 14 days to 8 July 2025 to assist in facilitating completion of third-party approvals necessary. ('Second Extension') The exercise of the Option by the Company is subject to the satisfaction (or waiver) of the Conditions Precedent (defined below) being; Due diligence: The Company completing legal and technical due diligence on the Project and the Vendor. b) Regulatory approvals: The parties obtaining all necessary regulatory approvals or waivers under the ASX Listing Rules, Corporations Act or any other applicable law to complete the Transaction. c) Shareholder approvals: The Company obtaining shareholder approval for the issue of the Consideration Shares and Consideration Performance Rights and d) Third party approvals: The parties obtaining all third-party approvals and consents necessary to lawfully complete the Transaction, (together, the 'Conditions Precedent'). The Company advises the following; Due diligence: Preliminary legal and technical due diligence on the Project and the Vendor has been completed and a Company director completed site visits and meetings with government officials and local authorities. Rock chip samples were taken and results outlined on ASX announcement on 9 April 20252 . The Company advises that its due diligence process has been successfully completed. Regulatory approvals: The Company has obtained all necessary regulatory approvals or waivers under the ASX Listing Rules and Corporations Act and as such this step is complete. Transfer of the six (6) exploration licenses that make up the Casablanca Antimony Project is in progress. Stamp duty has been paid and Zeus expects that the transfer of the licenses will be completed in the near future. Shareholder approvals: The Company held a shareholder meeting on 5 May 2025 to seek shareholder approval for the issue of the Consideration Shares and Consideration Performance Rights. Approvals were granted from Company shareholders, and this step is complete and Third party approvals: The parties obtaining all third-party approvals and consents necessary to lawfully complete the Transaction are in progress and approaching completion with the final element comprising the transfer of the licenses to the Company as noted above. The Moroccan Minister of Energy Transition and Sustainable Development is in the final phase of issuing licenses to Zeus following a final site inspection. The Board authorised the release of this announcement to the ASX. Contact: Robert Marusco Tel: 0412 593 363 Hugh Pilgrim Tel: 0449 581 256 (C) 2025 Electronic News Publishing, source ENP Newswire

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