No
The list is a sentinel controlled loop. It keeps going until it hits the special value that signals the end. Here is the code with some new lines that print the data of each element:
main:
la $s0,elmnt01 # get a pointer to the first element
loop: beqz $s0,done # while the pointer is not null
lw $a0,0($s0) # get the data of this element
# do something with the element
li $v0,1 # print it
syscall #
la $a0,sep # print separator
li $v0,4 #
syscall #
lw $s0,4($s0) # get the pointer to the next element
b loop
done: . . .
.data
elmnt01: .word 1
.word elmnt02
elmnt02: .word 2
.word elmnt03
elmnt03: .word 3
.word elmnt04
elmnt04: .word 5
.word elmnt05
elmnt05: .word 7
.word 0
sep: .asciiz " "
The code that traverses the list is in black; the code that processes the data at each element is in blue.