Mr. Sean Charland reports

ZIMTU CAPITAL CORP. ANNOUNCES ENTRY INTO CLAIMS SALE AGREEMENT

Zimtu Capital Corp. has entered into a definitive agreement to sell two separate packages of mining claims generally known as the Eagle Lake claims and the Whitefish Lake claims, respectively, located approximately 350 kilometres northwest of Thunder Bay, Ont. The claims are composed of 2,923 mineral claims covering approximately 61,093 hectares (approximately 150,964 acres) in Northwestern Ontario.

Terms of the transaction

Pursuant to sale agreement dated July 15, 2024, between the company and Discovery Lithium Inc., the company has agreed to sell a 100-per-cent interest in the claims for the following consideration:

• A cash payment of $432,778.50 to be paid to the company within 180 days following closing of the transaction;
• An aggregate of two million common shares in the capital of the purchaser to be issued to the company upon closing;
• The purchaser will grant to the company a 1-per-cent net smelter return royalty interest in the future minerals produced from the claims upon achieving commercial production.

In addition to the above, the purchaser has agreed to assume the company's obligations with respect to certain payments owed or may be owed, as applicable, to other parties in connection with a claims sales agreement and a net smelter return royalty agreement previously entered into by the company relating to the claims.

The completion of the transaction remains subject to, among other things, the company obtaining the approval of the TSX Venture Exchange, if necessary, and acceptance of the Canadian Securities Exchange as it pertains to the purchaser. The Discovery shares to be issued on closing will be subject to a hold period expiring four months and one day following closing.

About Zimtu Capital Corp.

Zimtu is a public investment issuer that aspires to achieve long-term capital appreciation for its shareholders. Zimtu companies may operate in the fields of mineral exploration, mining, technology, life sciences or investment. The company trades on the TSX Venture Exchange under the symbol ZC and in Frankfurt under symbol ZCT1.

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