ZEN Zentek Ltd

Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSX VENTURE:ZEN) (OTCQX:ZENYF)
is pleased to announce that the recent warrant exercise has yielded gross
proceeds of $12,674,000. The warrants were priced at $1.00 and expired on June
24, 2013.


Aubrey Eveleigh, President and CEO stated "Some of the proceeds will be used to
fund continuing drilling, resource estimate, metallurgical studies, graphite
characterization and a preliminary economic assessment. The budget for this
program is approximately $7.5 million. The Company is now in a great position to
carry out the exploration and development program on our graphite deposit for
the foreseeable future without a need for a capital raise."


Zenyatta is developing a very rare hydrothermal or 'vein-type' graphite deposit
it discovered in 2011 in northeastern Ontario, Canada. It is the largest and
only known graphite deposit of this type under development in the world.
Globally, the only graphite mines of this type are located in Sri Lanka, which
have been in production since 1847. The current high grade, underground mining
operations produce only 5,500 tonnes annually from narrow (5-10cm) veins.
Despite the lack of volume, Sri Lankan 'vein-type' graphite has enjoyed great
demand due to its unusually high purity and unique physical properties. Graphite
veins are quite rare and in many industrial applications offer superior
performance due to higher thermal and electrical conductivity. 


Zenyatta's Albany graphite deposit is located 30km 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 70km away and an
all-weather road approximately 4-5km from the graphite deposit. The deposit is
near surface, underneath glacial till overburden and a thin veneer of Paleozoic
sedimentary cover rocks.


Graphite is a natural form of carbon with the chemical formula C, which it
shares with diamond and coal. 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. 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 3,500 degrees 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. Some of these
key physical and chemical properties make it critical to modern industry.


Mr. Aubrey Eveleigh, P.Geo., President and CEO, is the "Qualified Person" under
NI 43-101 and has reviewed the information contained in this news release.


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. This News Release includes certain
"forward-looking statements". These statements are based on information
currently available to the Company and the Company provides no assurance that
actual results will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", "should" or "plan".
Since forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zenyatta Ventures Ltd.
807-346-1660
info@zenyatta.ca
www.zenyatta.ca

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