Financing of up to CAD$921,000

April 6, 2020

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Financing of up to CAD$921,000 by private placement

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it is seeking approval to issue up to 75,000,000 new common shares ("Private Placement") to a selection of high net-worth private investors to raise gross proceeds of up to approximately £525,000 or NOK 6,750,000 or CAD$921,000.

The issue price of the Private Placement is £0.007 (0.7 pence), NOK0.09 or CAD$0.0125.

The Private Placement is subject to TSXV approval.

Use of Proceeds

The proceeds of the Private Placement will be used to provide increased funding for the development of its production portfolio (up to £100,000), business development expenses for the identification of new oil & gas production assets (up to £300,000), as well as for general working capital purposes (up to £125,000).

Further Information: