Submission of Novazza EIA
16 april, 03:48
Submission of Novazza EIA
April 16, 2026
ZENITH ENERGY LTD.
("Zenith"or the"Company")
Submission of Novazza EIA
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR),is pleased to provide an update in connection with its two applications for exploration permits coveringItaly's two largest uranium deposits, located in theLombardy region: theVal Vedello depositin the Province ofSondrio("Val Vedello") and theNovazza depositin the Province ofBergamo("Novazza").
Further to its regulatory news announcement dated November 11, 2025, the Company’s fully owned Italian subsidiary, Futuro Energetico Italiano S.r.l. (“FEI”), a special purpose vehicle established to hold and develop theVal VedelloandNovazzauranium projects in Italy, has now submitted a comprehensive Environmental Impact Assessment (“EIA”) -Valutazione di Impatto Ambientale (VIA)- to the Italian Ministry for Environment and Energy Security (MASE) for Novazza (the “Novazza EIA”).
Following submission, an ad hoc commission (Commissione Tecnica VIA)will now be established toevaluate the Novazza EIA in accordance with national and EU environmental regulations. This step marks thefinal requirement prior to the issuance of the exploration licence.
The approval process is expected to take approximatelysix months from the date of submission.
Val Vedello EIA
The Company has requested and received an extension until July 15, 2026, to present an EIA for Val Vedello. The extension was necessary due to delays in accessing the site, inter alia, as a result of adverse weather conditions.
History
Val Vedello and Novazza were first discovered and developed byAGIP Nucleare S.p.A., a former subsidiary of Italy's national oil company during the period1959-1982as part of theItalian National Nuclear Energy Program.
The deposits were identified through extensivegeomineral exploration campaignspromoted by theComitato Nazionale per l'Energia Nucleare(CNEN). These programmes establishedVal VedelloandNovazzaasItaly's most significant uranium-polymetallic systems, marking an important chapter in the country's scientific and industrial development.
Resource Potential
Exploration by CNEN and AGIP subsidiaries defineda now historical estimated resourceof approximately1,000 tonnes of metallic uranium (U)atNovazzaand around6,000 tonnes of uranium oxide (U₃O₈)atVal Vedello, withaverage grades up to 0.1 % U₃O₈.
AtNovazza, underground development reachedfour levels, withover 100 diamond drill holesandmore than 6 km of underground workings. Historical studies outlined anExploration Targetof2.5-3.0 million lb at 0.1-0.2 % U₃O₈.
TheVal Vedello deposit, about15 km north of Novazzaat higher altitude, is reported to belarger, with11,000m of underground developmentand60,000m of drillingrecorded.
Val Vedello and Novazza constitute Italy's largest known uranium resource base,distinguished by an extensive, well-engineered underground mining network-multi-level, vehicle-accessible, and ready for immediate re-entry. This legacy infrastructure enables modern exploration to proceed rapidly and at minimal cost, without the need for new tunnelling, providing an advanced starting point for redevelopment.
Commitment to Sustainability and Community Engagement
The Company is committed toresponsible mineral development,transparent stakeholder engagement, andrigorous environmental oversight. Early dialogue withlocal and regional authoritiesis ongoing to ensure alignment with community priorities and regulatory frameworks.
All exploration activities will adhere toItaly's Environmental Impact Assessment (EIA)procedures and incorporatebest-practice radioprotection, ventilation, waste, and water-management systems, ensuring theAlpine environment remains protectedthroughout all stages of exploration and development.
Market Context and Strategic Outlook
Italy exited nuclear power following the1987 Italian nuclear referendum, a decision later reaffirmed by the2011 Italian nuclear referendum. However, the European energy landscape has since undergone a profound transformation.
In the wake of the Russian invasion of Ukraine, and more recent instability across parts of the Middle East, energy security, supply independence, and critical-mineral resilience have become central policy priorities across Europe. These developments have underscored the fragility of global energy markets and reinforced a shift among European policymakers toward greater energy autonomy, with increasing emphasis on domestically anchored or politically secure sources of energy and fuel inputs.
Public sentiment in Italy also appears to be evolving. There is increasing recognition of the potential role that nuclear energy, and the uranium supply chain, can play in delivering a stable, low-carbon energy system. Many analysts suggest that, were a referendum held today, the outcome could differ materially from past votes, indicating a shift in both public perception and political feasibility.
As evidenced byAustralia, one of the world’s largest uranium producers despite maintaining a domestic prohibition on nuclear power generation, a country’s nuclear policy does not preclude the responsible development of uranium resources. This distinction reinforces the strategic opportunity for Italy to participate in the nuclear fuel value chain while maintaining flexibility in its domestic energy policy.
Andrea Cattaneo, Chief Executive Officer, commented:
“The submission of the Novazza Environmental Impact Assessment represents a highly significant milestone in the advancement of our Italian uranium portfolio.
With Novazza now formally under evaluation as part of the VIA (Environmental Impact Assessment) process, we have entered the final stage prior to the award of an exploration licence for Italy’s most significant historical uranium deposits. Novazza benefits from extensive legacy work and existing underground infrastructure developed by AGIP Nucleare, which we believe provides valuable strategic and economic advantage.
We continue to prioritise open and constructive engagement with local communities, regional authorities, and all relevant stakeholders. We firmly believe that responsible resource development must be underpinned by trust, collaboration, and the delivery of tangible long-term benefits.
Against a backdrop of evolving European energy policy, ongoing geopolitical tensions in the Middle East, and the resulting volatility in global oil markets, energy security and supply independence have become increasingly urgent priorities. In this context, we believe Val Vedello and Novazza are well aligned with broader strategic objectives. The combination of historical resource potential, existing infrastructure, and a clear regulatory pathway positions FEI to play a role in supporting Italy’s energy transition and energy security ambitions.
We look forward with confidence to the months ahead as the Novazza EIA progresses through its evaluation phase and as we continue to advance Val Vedello towards submission.”
Further Information:
Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer | Tel: +1 (587) 315 1279 |
Notes to Editors:
Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in North Africa, the US and Europe. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and on the Spotlight Stock Market in Sweden (XSAT: ZENA SDR).
Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
LinkedIn:https://bit.ly/3A5PRJb
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Submission of Novazza EIA
16 april, 03:48
Submission of Novazza EIA
April 16, 2026
ZENITH ENERGY LTD.
("Zenith"or the"Company")
Submission of Novazza EIA
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR),is pleased to provide an update in connection with its two applications for exploration permits coveringItaly's two largest uranium deposits, located in theLombardy region: theVal Vedello depositin the Province ofSondrio("Val Vedello") and theNovazza depositin the Province ofBergamo("Novazza").
Further to its regulatory news announcement dated November 11, 2025, the Company’s fully owned Italian subsidiary, Futuro Energetico Italiano S.r.l. (“FEI”), a special purpose vehicle established to hold and develop theVal VedelloandNovazzauranium projects in Italy, has now submitted a comprehensive Environmental Impact Assessment (“EIA”) -Valutazione di Impatto Ambientale (VIA)- to the Italian Ministry for Environment and Energy Security (MASE) for Novazza (the “Novazza EIA”).
Following submission, an ad hoc commission (Commissione Tecnica VIA)will now be established toevaluate the Novazza EIA in accordance with national and EU environmental regulations. This step marks thefinal requirement prior to the issuance of the exploration licence.
The approval process is expected to take approximatelysix months from the date of submission.
Val Vedello EIA
The Company has requested and received an extension until July 15, 2026, to present an EIA for Val Vedello. The extension was necessary due to delays in accessing the site, inter alia, as a result of adverse weather conditions.
History
Val Vedello and Novazza were first discovered and developed byAGIP Nucleare S.p.A., a former subsidiary of Italy's national oil company during the period1959-1982as part of theItalian National Nuclear Energy Program.
The deposits were identified through extensivegeomineral exploration campaignspromoted by theComitato Nazionale per l'Energia Nucleare(CNEN). These programmes establishedVal VedelloandNovazzaasItaly's most significant uranium-polymetallic systems, marking an important chapter in the country's scientific and industrial development.
Resource Potential
Exploration by CNEN and AGIP subsidiaries defineda now historical estimated resourceof approximately1,000 tonnes of metallic uranium (U)atNovazzaand around6,000 tonnes of uranium oxide (U₃O₈)atVal Vedello, withaverage grades up to 0.1 % U₃O₈.
AtNovazza, underground development reachedfour levels, withover 100 diamond drill holesandmore than 6 km of underground workings. Historical studies outlined anExploration Targetof2.5-3.0 million lb at 0.1-0.2 % U₃O₈.
TheVal Vedello deposit, about15 km north of Novazzaat higher altitude, is reported to belarger, with11,000m of underground developmentand60,000m of drillingrecorded.
Val Vedello and Novazza constitute Italy's largest known uranium resource base,distinguished by an extensive, well-engineered underground mining network-multi-level, vehicle-accessible, and ready for immediate re-entry. This legacy infrastructure enables modern exploration to proceed rapidly and at minimal cost, without the need for new tunnelling, providing an advanced starting point for redevelopment.
Commitment to Sustainability and Community Engagement
The Company is committed toresponsible mineral development,transparent stakeholder engagement, andrigorous environmental oversight. Early dialogue withlocal and regional authoritiesis ongoing to ensure alignment with community priorities and regulatory frameworks.
All exploration activities will adhere toItaly's Environmental Impact Assessment (EIA)procedures and incorporatebest-practice radioprotection, ventilation, waste, and water-management systems, ensuring theAlpine environment remains protectedthroughout all stages of exploration and development.
Market Context and Strategic Outlook
Italy exited nuclear power following the1987 Italian nuclear referendum, a decision later reaffirmed by the2011 Italian nuclear referendum. However, the European energy landscape has since undergone a profound transformation.
In the wake of the Russian invasion of Ukraine, and more recent instability across parts of the Middle East, energy security, supply independence, and critical-mineral resilience have become central policy priorities across Europe. These developments have underscored the fragility of global energy markets and reinforced a shift among European policymakers toward greater energy autonomy, with increasing emphasis on domestically anchored or politically secure sources of energy and fuel inputs.
Public sentiment in Italy also appears to be evolving. There is increasing recognition of the potential role that nuclear energy, and the uranium supply chain, can play in delivering a stable, low-carbon energy system. Many analysts suggest that, were a referendum held today, the outcome could differ materially from past votes, indicating a shift in both public perception and political feasibility.
As evidenced byAustralia, one of the world’s largest uranium producers despite maintaining a domestic prohibition on nuclear power generation, a country’s nuclear policy does not preclude the responsible development of uranium resources. This distinction reinforces the strategic opportunity for Italy to participate in the nuclear fuel value chain while maintaining flexibility in its domestic energy policy.
Andrea Cattaneo, Chief Executive Officer, commented:
“The submission of the Novazza Environmental Impact Assessment represents a highly significant milestone in the advancement of our Italian uranium portfolio.
With Novazza now formally under evaluation as part of the VIA (Environmental Impact Assessment) process, we have entered the final stage prior to the award of an exploration licence for Italy’s most significant historical uranium deposits. Novazza benefits from extensive legacy work and existing underground infrastructure developed by AGIP Nucleare, which we believe provides valuable strategic and economic advantage.
We continue to prioritise open and constructive engagement with local communities, regional authorities, and all relevant stakeholders. We firmly believe that responsible resource development must be underpinned by trust, collaboration, and the delivery of tangible long-term benefits.
Against a backdrop of evolving European energy policy, ongoing geopolitical tensions in the Middle East, and the resulting volatility in global oil markets, energy security and supply independence have become increasingly urgent priorities. In this context, we believe Val Vedello and Novazza are well aligned with broader strategic objectives. The combination of historical resource potential, existing infrastructure, and a clear regulatory pathway positions FEI to play a role in supporting Italy’s energy transition and energy security ambitions.
We look forward with confidence to the months ahead as the Novazza EIA progresses through its evaluation phase and as we continue to advance Val Vedello towards submission.”
Further Information:
Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer | Tel: +1 (587) 315 1279 |
Notes to Editors:
Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in North Africa, the US and Europe. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and on the Spotlight Stock Market in Sweden (XSAT: ZENA SDR).
Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
LinkedIn:https://bit.ly/3A5PRJb
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