ZENYATTA ANNOUNCES APPLICATION FOR EXTENSION TO EXPIRY DATES OF WARRANTS

Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSXV:ZEN) announces it will be applying to the TSX Venture Exchange (the “Exchange”) for approval to extend the expiry date of 845,000 common share purchase warrants. On August 11, 2015, the Corporation completed a private placement issuing 1,690,000 units (the “Units”) at a price of $1.25 per Unit. Each Unit was comprised of one common share in the capital stock of the Corporation and one-half (½) of one purchase warrant (a “Warrant”), with each whole such Warrant exercisable into one common share at an exercise price of $1.65 per common share until August 11, 2016. The Company received approval from the Exchange to extend the Warrants for 24 months on July 28, 2016, and the Warrants presently have an expiry date of August 11, 2018. The Company is proposing to extend the expiry date of the warrants by an additional 12 months to August 11, 2019. All other terms and conditions of the warrants will remain the same. The proposed extension of the expiry date is conditional upon the receipt of approval from the Exchange. For further information: Brian Bosse, Chief Restructuring Officer Tel: +1 (705) 618-0900 Email: bbosse@zenyatta.ca 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 in 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.