File: Attachment Zena Closing NR (PP 2025-1) Jan 2 2026.pdf

ZENA MINING CORP. c/o 3345 Huntleigh Court North Vancouver, BC V7H 1C9 Telephone: (604) 681-2868

January 2, 2026

ZENA MINING CLOSES $500,000 NON-BROKERED PRIVATE PLACEMENT

Zena Mining Corp. (TSX ZCC) ("Zena" or the "Company") announces the closing of its non-brokered private placement (the "Financing") re-announced on December 24, 2025.

Total proceeds from the Financing are $500,000.04, resulting in the issuance of 3,333,334 units at a price of $0.15 per unit. Each unit consists of one common share and one non-transferable share purchase warrant; each warrant will entitle the holder to purchase one additional common share at a price of $0.20 per share for one (1) year period.

Proceeds from the Financing will be used for unallocated working capital.

The Company has received conditional regulatory approval from the TSX Venture Exchange for the Financing, and all securities issued on closing are subject to a regulatory trading hold period expiring four months plus one day from date of issuance.

On behalf of the Board of Directors: /s/ "Kevin Hanson" Director

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute `forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements because of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities' regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated, or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.