January 18, 2021 
                                                       
ZENITH ENERGY LTD.

("Zenith" or the "Company")

Result of AGM & Granting of Stock Options 

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the
listed international oil & gas production company focused on pursuing African
development opportunities, is pleased to announce that all resolutions presented
before shareholders at its Annual General Meeting and Special Meeting ("AGM")
held on January 15, 2021 have been duly passed. 

Board Changes resulting from the AGM

As indicated in the information circular distributed to shareholders, Mr. Luigi
Regis Milano, an Executive Director of the Company, did not stand for
re-election at the AGM and retired from the Board of Directors due to ill
health. 

Mr. Erik Sture Larre, a Non-Executive Director of the Company, did not stand for
re-election at the AGM and retired from the Board of Directors to concentrate on
other business activities. 

The Company wishes to thank both of the aforementioned Directors for their
valuable commitment and assistance to the Company over the years. 

Granting of Options 

The Company has granted a total of 45,414,775 stock options (the "Options") to
certain Directors and employees of the Company in accordance with the Company's
Stock Option Plan. 
The Options will have an exercise price of NOK 0.20 per Option (approximately
equivalent to £0.017), a premium of approximately 47% to the last closing price
on the Euronext Growth of the Oslo Stock Exchange (15.01.2021). The Options are
fully vested and have the duration of five years from the date of granting. 


Further Information:

Zenith Energy Ltd 	 
Andrea Cattaneo, Chief Executive Officer	Tel: +1 (587) 315 9031
 	E-mail:    info@zenithenergy.ca

Allenby Capital Limited - Financial Adviser & Broker	 
Nick Harriss
Nick Athanas	Tel: + 44 (0) 203 328 5656
 
Notes to Editors: 

Zenith Energy Ltd. is an international oil and gas production company, listed on
the London Stock Exchange (LSE:ZEN) and the Euronext Growth Market of the Oslo
Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize value-accretive
hydrocarbon production opportunities in the onshore oil & gas sector,
specifically in Africa. The Company's board of directors and senior management
team have the experience and technical expertise to develop the Company
successfully.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange