Zenyatta Ventures Ltd. Provides an Update on the Albany Graphite Project, Ontario, CANADA

Thunder Bay, ON

18 June 2014

Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSXV : ZEN) is pleased to announce the progress of ongoing programs on the Company’s 100 percent owned Albany Graphite Deposit located in northeastern Ontario, Canada. Metallurgical Test Work

Metallurgical testing by SGS Canada Inc. (‘SGS’) at Lakefield of two 5 tonne mini-bulk samples from the East and West graphite pipes is ongoing. SGS has requested additional time to complete the metallurgical scale up and optimization of the flow sheet. Dr. Stephen Mackie, Manager Hydrometallurgical Group at SGS commented, "The test work is proceeding well. At this stage of a mineral project, tweaking of a process flow sheet is quite common and is especially so for Zenyatta’s unique Albany deposit. We expect to develop a distinctive process for this graphite deposit." This processing will allow additional optimization of the flow sheet for the preliminary economic assessment (PEA) and provide material for further testing by Zenyatta and interested parties who have requested high purity graphite material.

Work to optimize the process conditions and to prepare materials to meet target customer specifications has been underway for a while and will result in production of a range of BET (Brunauer-Emmett-Teller) surface areas, particle size, particle size distribution and particle morphology characteristics.

Preliminary Economic Assessment ("PEA")

RPA Inc. ("RPA") continues to prepare an independent Scoping Study that will meet the requirements of a PEA as defined in NI 43-101 – Standards of Disclosure for Mineral Projects. The technical data for the study will include among other items: open pit mining methods, metallurgy and processing, infrastructure, environment, manpower requirements, marketing and price assumptions, capital and operating costs, life of mine plan and execution plan. RPA has completed all inputs and is now awaiting the SGS metallurgy and processing data to finalize the PEA. An estimated completion date will be better understood in the next six to eight weeks and another update will be released at that point. Completion of the PEA will be another important milestone for the Company and lay the groundwork for the pre-feasibility study.