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THUNDER BAY, ON--(Marketwired - June 02, 2016) - Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSX VENTURE: ZEN) (OTCQX: ZENYF) is pleased to announce grant funding from the Canada-Israel Industrial R&D Foundation (CIIRDF) for the "Production of Nano-Graphite-Reinforced Cement Admixture" under the Ontario-Israel Collaboration Program ('OICP'). Larisplast Ltd ('Larisplast') also received a grant under the same program from the National Technology Innovation Authority (NTIA) in Israel.
Zenyatta, Larisplast, Ben-Gurion University of the Negev ('BGU') and B.G. Negev Technologies ('BGN') recently announced the signing of a Memorandum of Understanding ('MOU') on 16 May 2016 while on the Ontario Business Mission to Israel with Premier Wynne. Each partner will have a unique technical contribution in a scaled up program from the successful bench scale testing announced on 24 September 2015. This new program will have subtotal costs of $207,002 (Zenyatta) and $322,129 (Larisplast) for a total of $529,131 of which 50% will be refunded under this OICP grant.
"CIIRDF is pleased to support Zenyatta, Larisplast, Ben-Gurion University and B.G. Negev Technologies as they collaborate on the development of an enhanced concrete with broad application across the construction industry," said Dr. Henri Rothschild, President of CIIRDF. "This innovative R&D partnership directly supports the objectives of the Ontario-Israel Collaboration Program. The emerging product aims to improve the mechanical performance of concrete and its resilience during earthquakes, helping to preserve the safety of our citizens and infrastructure."
The main objective of the collaborative project between Zenyatta, Larisplast, BGU and BGN is to develop concrete admixtures containing Zenyatta's natural nano-graphite to create improved mechanical properties. Several benefits expected from the development of this enhanced concrete product include:
Allowing a faster curing time;
Using less concrete during construction but still achieve a superior mechanical performance;
Inhibiting premature failure; and
Withstanding large forces, typically produced during earthquakes or explosions.
Usage of natural reinforcing high-purity, nano-graphite filler of this kind is also beneficial for the environment. The concrete industry is a significant contributor of carbon dioxide which is a major greenhouse gas. Wide spread use of this enhanced product will have the potential to reduce the amount of concrete used in construction and consequently cut considerable carbon dioxide emissions.
Aubrey Eveleigh, President and CEO for Zenyatta stated, "Our Company is very pleased to be receiving funding support from both the Ontario and Israeli governments. Due to the advanced work at BGU on Zenyatta graphite in concrete, we now have another very important end use application for our targeted market. We are excited to be working with concrete experts like Larisplast and BGU and play a key role in the advancement of this new admixture material."
Zenyatta continues to develop its rare Albany graphite deposit in Ontario, Canada. The Company's highly crystalline 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. 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.
Dr. Bharat Chahar, P.E., VP Market Development for Zenyatta, is a Qualified Person for the purposes of National Instrument 43-101 and has reviewed, prepared and supervised the preparation of the technical information in this news release.
CAUTIONARY STATEMENT: This analysis does not represent a statistically large sample size. Furthermore, these positive results do not mean that Zenyatta can extract and process Albany graphite for graphite applications on an economic basis. Without a formal independent feasibility study, there is no assurance that the operation will be economic. 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 may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Zenyatta's future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected timing for release of a pre-feasibility study, the expected uses for graphite in the future, and the future uses of the graphite from Zenyatta's Albany deposit. 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 metallurgical processing, ongoing exploration, project development, reclamation and capital costs of Zenyatta's mineral properties, and Zenyatta's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the inability to identify target markets and satisfy the product criteria for such markets; the inability to complete a prefeasibility study; the inability to enter into offtake agreements with qualified purchasers; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in Zenyatta's public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta's forward-looking statements. Although Zenyatta 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. Zenyatta 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.
Zenyatta Ventures Ltd. info@zenyatta.ca Tel. 807-346-1660 www.zenyatta.ca
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