Graphene Market Development Update

Zenyatta Ventures Ltd. (“Zenyatta”, “ZEN” or “Company”) (TSXV: ZEN) is pleased to provide an update on its graphene market development work which has led to the creation of five significant potential market verticals for the Company which include aerospace, biomedical, water treatment, transportation and civil engineering. Graphene is an emerging market opportunity with many potential applications. The challenge for a new supplier like ZEN is to define the priority market segments offering the best value creation potential. ZEN is tackling this challenge by working in close collaboration with researchers both in industry and in academia. From the work done by the ZEN team over just the past 6 months, the Company is now actively collaborating with 22 industrial end users and 10 Canadian universities. ZEN is also receiving significant interest from multiple Canadian government agencies who have already directly contributed over $2 million to ZEN’s graphene research and development work. Dr. Francis Dubé Co-CEO commented, “Our model of bringing together end-users with specific graphene-related opportunities and researchers from top Canadian Universities to provide industry specific graphene solutions is proving to be attractive to all parties. We are creating win-win-win scenarios for everyone involved as we help solve industry challenges in delivering the power of graphene to end-users. Our work is also bringing leading edge research projects to Canadian academia and creating demand for our graphene products while developing potentially valuable intellectual property (IP) protected inventions. The work being done across the country has the potential to make Canada a leader in the emerging clean technology-oriented graphene industry.” ZEN’s graphene solutions and the potential economic benefit that they can bring to the Canadian economy has attracted the attention of several government agencies that are supporting innovation, sustainability and new clean technology. The Company will continue to work with the government program coordinators for the opportunities that ZEN’s unique Albany Graphite product offers for innovative nano-materials applications. This effort is led by ZEN’s Ottawa-based Outreach Program Coordinator, Monique Manaigre. The market development work is being led by the Company’s Head of Sales, Phil Chataigneau along with Research Catalyst, Colin van der Kuur. Their combined efforts have led to the development of the 5 most significant potential graphene market verticals: Aerospace Applications: Graphene light-weighting, hydrogen applications, Lightning strike protection, composite enhancement, solid state heat sinks, solid state wiring, leading edge/wing de-icing, ceramic armour, radar/sonar absorption, technical/smart fabrics, personal body armour, Graphene Oxide (GO) in jet fuel, lighter cargo containers. Biomedical Applications: Oncology treatment using Graphene Quantum Dots (GQD) to deliver targeted therapies. Diabetes, other standard diagnostic testing with Functionalized GO sensors. Water Treatment: Graphene based desalination membranes and other water purification products. Transportation: Applications with auto makers and resin manufacturers for: Heat Sinks & Light-weighting, Graphene wires for electric motors, graphene 3-d printing apps to deliver weight savings, (GO) Fuel Additives (Diesel & Jet Fuel), Hydrogen Economy: Fuel Cells, Electrolysis Units, Next-Generation Fuel Cells with graphene 3-D printed circuits and graphene plates. Civil Engineering: Graphene additive in cement/concrete. Graphene in roads/surfacing products. In recognition of the excellent progress made by the Company’s market development team over the past six months, the Board of Directors has approved the grant of 50,000 incentive stock options grant to each of these three individuals. These options will be priced at $0.40 per share. One-third of the options vested on the date of their grant, one-third of the options will vest six months following the date of grant and the balance will vest on the one-year anniversary of the date of grant. The options have a term of two years and are subject in all respects to the terms of the Company's incentive stock option plan and the policies of the TSX Venture Exchange. For further information: Dr. Francis Dubé, Co-CEO & Head of Business Development and Technology Tel: +1 (289) 821-2820 Email: fdube@zenyatta.ca About Zenyatta Zenyatta’s Albany Graphite Project hosts a large and unique quality deposit of highly crystalline graphite. Independent labs in Japan, UK, Israel, USA and Canada have demonstrated that Zenyatta’s Albany Graphite/Naturally Pure^TM easily converts (exfoliates) to graphene using a variety of simple mechanical and chemical methods. The deposit is located in northern Ontario just 30km north of the Trans-Canada Highway, near the communities of Constance Lake First Nation and Hearst. Important nearby infrastructure include hydro-power, natural gas pipeline, a rail line 50 km away and an all-weather road just 10 km from the deposit. To find out more on Zenyatta Ventures Ltd., please visit our website at www.zenyatta.ca. A copy of this press release and all material documents with respect of the Company may be obtained on Zenyatta’s SEDAR profile at www.sedar.ca. CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain "forward-looking statements”, which often, but not always, can be identified by the use of words such as "potential", "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Zenyatta’s future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected uses for graphite or graphene in the future, and the future uses of the graphite from Zenyatta’s Albany deposit. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of metallurgical processing, ongoing exploration, project development, reclamation and capital costs of Zenyatta’s mineral properties, and Zenyatta’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the inability to identify target markets and satisfy the product criteria for such markets; the inability to complete a prefeasibility study; the inability to enter into offtake agreements with qualified purchasers; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in Zenyatta’s public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta’s forward-looking statements. Although Zenyatta believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zenyatta disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.