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.
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About Zentek Ltd.

Zentek is an IP development and commercialization company focused on next-gen healthcare solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZENGuard™, a patent-pending coating with 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as pharmaceutical products against infectious diseases. The company also has an exclusive agreement to be the global commercializing partner for a newly developed, highly scalable, aptamer-based rapid pathogen detection technology.

To find out more about Zentek Ltd., please visit our website at www.zentek.com. A copy of this news release and all material documents in respect of the Company may be obtained on Zentek's SEDAR profile at www.sedar.com.

Forward-Looking Statements

This news release contains forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although Zentek 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. Zentek 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. Neither the 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.

For further information:

Matt Blazei

CORE IR

(212) 655-0924

mattb@coreir.com

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