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Zenyatta Announces New Research Collaboration on Graphene Composites with German Aerospace Center

Press Release

Thunder Bay, ON

October 15, 2018

Zenyatta Ventures Ltd. (TSXV: ZEN, “Zenyatta” or the “Company”) today announced that it will be commencing a new research collaboration with the University of British Columbia (UBC)-Okanagan Campus and the Deutsches Zentrum für Luft- und Raumfahrt (“DLR”, the German Aerospace Center) to investigate the potential use of Albany Graphite for graphene and graphene oxide in new composite materials. The composite development project will be led by Dr. Lukas Bichler.

“UBC researchers have established a partnership with DLR, which seeks to provide unique educational and research opportunities for future engineers. Also, the partners bring together Canadian and European industry partners and allow effective technology transfer and rapid innovation”, said Dr. Bichler. “A partnership with Zenyatta, DLR and UBC researchers is truly a very exciting opportunity to lead in the development of the next-generation composite materials.

Separately, Zenyatta will also be working with UBC on a graphene oxide fuel additive. Research has found that graphene oxide can improve fuel economy by 7.5%, and potentially reduce emissions by 8% while increasing power by 10%. Dr. Sina Kheirkhah, a combustion engineer, will be the lead researcher for the fuel additive project.

Dr. Sina Kheirkhah commented that “Graphene oxide is a carbon- and oxygen-rich nanomaterial which can potentially increase the combustion rate when added to jet fuel. Graphene-doping also has the potential to boost aircraft propulsive force and increase the power of land-based gas turbines.”

Dr. Francis Dubé, Zenyatta’s Co-CEO and Head of Business Development and Technology said: “This model of collaboration between Zenyatta, potential end users, like DLR, matched with research partners, like Dr. Bichler, can lead to exciting new inventions. It is a model that we will endeavor to repeat with other end users and university researchers.”

The German Aerospace Center (DLR) is the national aeronautics and space research centre of the Federal Republic of Germany. Its extensive research and development work in aeronautics, space, energy, transport, digitalization and security is integrated into national and international cooperative ventures. In addition to its own research, as Germany’s space agency, DLR has been given responsibility by the federal government for the planning and implementation of the German space program. DLR is also the umbrella organization for one of Germany’s largest project management agencies. DLR has approximately 8000 employees at 20 locations in Germany, and has offices in Brussels, Paris, Tokyo and Washington D.C.

Zenyatta and its research partners will continue with innovative product development work to potentially create value for shareholders through IP protected inventions. Zenyatta also intends to work with other leading industrial partners to co-develop IP. One of the important goals of the Company is to become an IP incubator where it can participate in IP creation across multiple industry sectors.

Mr. Peter Wood, P.Eng, P.Geo., President and COO of Zenyatta, is the “Qualified Person” for the purposes of National Instrument 43-101 and has reviewed, prepared and supervised the preparation of the technical information contained in this news release.

For further information:

Dr. Francis Dubé, Co-CEO & Head of Business Development and Technology

Tel: +1 (289) 821-2820

Email: [email protected]

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 PureTM 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.

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