2 September 2014

Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSXV : ZEN) is pleased to provide an update of the pilot plant & metallurgical testing at SGS Canada Inc. (‘SGS’) facility in Lakefield, Ontario. The flotation pilot plant results, while confirming earlier bench-scale testing, produced a concentrate that has been upgraded at laboratory scale to a high purity and highly crystalline graphite product using a caustic bake based process.

Highlights:

• Glow Discharge Mass Spectrometry (‘GDMS’) results show less than 0.05% elemental impurities (or >99.95% purity of highly crystalline graphitic carbon (“Cg”));
• No deleterious elemental concerns and verifying good crystal structure (hexagonal with real density of 2.25 g/cc);
• Produced samples of high purity graphite material for market evaluation & testing by more than 20 end use

Bharat Chahar, VP Market Development of Zenyatta stated “The recent work has produced high purity graphite material which has been sent to various potential customers for testing and evaluation and will be sent to others in the coming days. Test work completed to date has confirmed the Zenyatta graphite to have a very good crystal structure (hexagonal) with a very desirable real density of 2.25 g/cc. We have no elemental purity concerns, including sulphur (67 ppm), boron (0.12 ppm) and equivalent boron content (‘EBC’) of 0.919 ppm. The sulphur and boron are very low with EBC measuring well below the recommended maximum of 5ppm for nuclear applications. The Company will continue to produce a high purity graphite product (for various applications) with strict specifications based on dialogue with interested end users under a signed confidentiality agreement.”