THUNDER BAY, ON–   April 25, 2017 – Zenyatta Ventures  {TSX.V: ZEN} today is pleased to announce that the completed flotation pilot testing portion of the ongoing metallurgical work has yielded successful results.

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The metallurgical testing is part of the pre-feasibility work for the Albany Graphite Deposit located in Northeastern Ontario, Canada. Purification test-work is currently underway using concentrate derived from the pilot flotation plant and this will culminate in a pilot purification plant. Once the final metallurgical testing is complete, the process flow sheets and associated engineering data will then be fed into the engineering part of the on-going pre-feasibility study.

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Mr. James Jordan, P.Eng., Project Manager for Zenyatta stated, “We are very pleased with the results to date as they not only surpassed flotation performance achieved in the previous pilot but also exceeded the optimized bench scale tests. At a target grade of 85% graphite, flotation recovery is projected to be approximately 90%. The graphite concentrate will be fed to the purification process to yield approximately 99.9% carbon purity. Due to the unique igneous origin of the Albany graphite mineralization, there are no other truly equivalent deposits on which we can model our process. We are therefore continually learning more about its distinctive response to various flotation parameters and especially to the circuit arrangement.”

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The metallurgical work is being carried out at SGS Canada Inc. (“SGS”) in Lakefield, Ontario under the guidance of Mr. Jordan. The completed flotation pilot testing work was performed on two composites from the East Pipe and the West Pipe of the Albany graphite deposit. Significantly, results show consistent improvement in metallurgical performance with similar concentrate grades and recoveries obtained from both the East and West Pipe graphite zone material. The upcoming pilot purification plant will also produce additional high-purity graphite marketing material for testing by global corporations and academic institutions for Li-ion battery, fuel cell and graphene applications.

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This metallurgical pilot program will be on-going for the next several months and completed in the first half of 2017. The engineering and environmental assessment parts of the pre-feasibility study are anticipated to commence in the 3^rd quarter of 2017. The proposed work will include drilling geotechnical holes for the pit design and hydrogeology holes for ground water testing and monitoring.

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Zenyatta Ventures Ltd. is developing the Albany Graphite Deposit situated in northeastern Ontario, Canada. The deposit is a unique type of igneous-hosted, fluid-derived graphite mineralization contained in two large breccia pipes. The Company is seeking end users for their graphite and graphene and is working with several collaborative partners including the development of a graphene enhanced concrete. Other potential markets for graphite include Li-ion batteries, fuel cells and powder metallurgy. The application for graphitic material is constantly evolving due to its unique chemical, electrical and thermal properties. It maintains its stability and strength under temperatures in excess of 3,000°C and is very resistant to chemical corrosion. It is also one of the lightest of all reinforcing elements and has high natural lubricating abilities. The outlook for the global graphite market is very promising with demand growing rapidly from new applications. It is now considered one of the more strategic elements by many leading industrial nations, particularly for its growing importance in high technology manufacturing and in the emerging “green” industries such as electric vehicle components.

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The Albany graphite deposit is situated 30 km north of the Trans-Canada Highway, power line and natural gas pipeline near the communities of Constance Lake First Nation and Hearst. A rail line is located 70 km away with an all-weather road approximately 10 km from the graphite deposit.

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The world trend is to develop products for technological applications that need extraordinary performance using ultra-high purity graphite powder at an affordable cost. Albany graphite can be upgraded with very good crystallinity without the use of aggressive acids (hydrofluoric) or high temperature thermal treatment therefore having an environmental advantage over other types of upgraded high-purity graphite material.

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Mr. Aubrey Eveleigh, P.Geo., Zenyatta’s President and CEO, is the “Qualified Person” for the purposes of National Instrument 43-101 and has reviewed, prepared and supervised the preparation of the technical information contained in this news release. SGS performed analyses of all purified Albany graphite samples by direct ash analysis using a platinum crucible, according to a validated method that also accurately quantifies key trace level impurities by subsequent ICP analysis.

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For Further Information Please visit the Company’s website at: http://www.zenyatta.ca

or contact:

Mara Strazdins, HB.Sc., VP Corporate Communications and Investor Relations
+1 807 346 1660