Zenyatta Ventures Ltd; Phase II Drill Program Update

Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSXV : ZEN) is pleased to provide an update on the Phase II drill program at the Albany Project near Hearst in north-eastern Ontario which started on September 1. Three (3) drill holes, testing three separate geophysical anomalies, have been completed for a total meterage of 1400 with approximately 450 samples sent to ALS Chemex for analysis. A fourth drill hole was started today to test a strong magnetic anomaly with an associated EM conductor. The program will continue until Christmas break to test several high priority Magnetic and Electromagnetic geophysical targets identified by Geotech’s VTEM 35 airborne system in 2010. It is anticipated that 10 of greater than 30 geophysical targets will be tested by year-end. In one of the recent drill holes four separate and extensive brecciated zones have been intersected consisting, predominantly, of variably sized granite gneiss clasts set in a fine grained black matrix of, among other minerals, graphite with trace to 1% pyrite and pyrrhotite locally. A full chemical and petrographic analysis will be completed to determine the economic significance of these newly discovered breccia zones. Breccia pipe formations are often associated with mineral deposit of varying types around the world. Another hole, just completed, intersected a coarse grained layered mafic-ultramafic intrusion (norite-gabbro) containing 1-3% pyrrhotite and trace amounts of local chalcopyrite. The observed cumulate textures and mineralization is encouraging given that Zenyatta is targeting new magmatic sources of nickel, copper, and platinum group metals related to the Mid-Continent Rifting. This validates the original theory upon which the Albany Project was based. The Albany Project is believed to represent a deep seated Proterozoic structure that may be related to the 1.1 Billion year old Mid-Continent Rifting. The Mid-Continent Rift is a known deep seated structural environment that hosts a number of significant mineral deposits around Lake Superior, including the recently discovered Rio Tinto’s Eagle and Tamarack Cu-Ni deposits and Magma’s TBN PGM deposit. Rifting environments around the world are host to many large mineral deposits due to a tapping of the copper-nickel rich mantle by way of the structural conduits and traps for metal transport and deposit. The Albany Project consists of approximately 300,000 acres in 28 separate claim blocks in an area highly prospective for copper, nickel, PGM’s and other mineral deposit types of magmatic origin. The 2010 airborne system identified greater than thirty anomalies on the various claim blocks. The majority of the high priority geophysical targets are to be drill tested during this Phase II program. The Phase I drilling, from March to June, encountered very encouraging results from previously unidentified sulphide bearing intrusions, favourable ultramafic rocks and a new iron discovery as noted in the news release dated June 28. To find out more on Zenyatta Ventures Ltd., please visit website www.zenyatta.ca or contact the Company at info@zenyatta.ca or Tel. 807-346-1660. This news release may contain forward-looking statements and is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the Company’s forward-looking statements and expectations. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except 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.”
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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:

Tyler Dunn

Director, Marketing & Communications


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