Zenyatta Provides Corporate Update

Zenyatta Ventures Ltd. (TSXV: ZEN, "Zenyatta" or the "Company") is pleased to announce that Brian Bosse has been appointed Chief Financial Officer of the Company. His role as Chief Restructuring Officer has now come to an end as the Company comes out of a restructuring phase and looks forward to becoming a leader in the Graphene market. "Brian has done an excellent job as Chief Restructuring Officer and the Board greatly appreciates his efforts" stated Co-CEO Dr. Francis Dubé. "Brian came in at a difficult time in the Company’s history permitting Zenyatta to be in a much stronger position just four months after the special meeting of shareholders held on May 11, 2018 (the "Special Meeting"). During this time, Brian proved himself to be very capable of managing the financial affairs of the Company and we are delighted that he has agreed to continue on the management team as our Chief Financial Officer." Zenyatta is very pleased to announce that Peter Wood, P.Geo., P.Eng. has been promoted from Vice President to President and Chief Operating Officer. Co-CEO Don Bubar commented "Peter is a geological engineer who has been leading the exploration and development work on the Albany Graphite Project since 2013 and proven himself to be highly qualified to direct project and graphene development activities going forward. He is committed to helping us realize the full potential of Albany Graphite in the Graphene market and has earned the opportunity to provide leadership for the next stage of Zenyatta’s growth as President and Chief Operating Officer." Zenyatta also wishes to provide an update regarding its former director and President, Mr. Aubrey Eveleigh. Mr. Eveleigh was removed from the Zenyatta board of directors at the Special Meeting. Mr. Eveleigh did not attend the Special Meeting, he has not appeared at the Company’s offices since the special meeting, and he has not provided transition assistance to the current Board of directors and new management. For further information: Dr. Francis Dubé, Co-CEO & Head of Business Development and Technology Tel: +1 (289) 821-2820 Email: fdube@zenyatta.ca
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About Zentek Ltd.

Zentek is an IP development and commercialization company focused on the research, development and commercialization of novel products using graphene and nanomaterials for use in the healthcare industry and beyond.

Zentek’s proprietary ZenGUARD™ coating is patent-pending and shown to have 99% antimicrobial activity, including against COVID-19, for use in PPE and potentially HVAC systems and other industries. Zentek's ZenGUARD™ production facility is located in Guelph, Ontario.

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:

Ryan Shacklock

VP, Strategy, Business Development & Investor Relations

rshacklock@zentek.com

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