Zenith Announces Settlement of Debt for Shares

ZENITH ANNOUNCES SETTLEMENT OF DEBT FOR SHARES

Calgary, Alberta, March 1, 2017, Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE) the dual listed international oil & gas production company is pleased to announce that the Corporation has agreed to issue 675,000 common shares in the capital of the Corporation ("Common Shares") at a deemed price of $0.12 per Common Share, to settle certain debts owing by the Corporation (the "Share Settlement").

The Common Shares issued pursuant to the Share Settlement will be subject to a four-month hold period. The Share Settlement is subject to the final approval of the TSX Venture Exchange.

For further information, please contact:

José Ramón López-Portillo Chairman

Andrea Cattaneo CEO & President

Email: [email protected]

Telephone: +1 (587) 315-9031

Telefax: +1 (403) 775-4474