Zenyatta announces appointment of Interim Co‐Chief Executive Officers and

Option Grants

Thunder Bay, ON ‐ 14 August 2018 ‐ Zenyatta Ventures Ltd. ("Zenyatta" or the "Company") (TSXV: ZEN)

is pleased to announce the appointment of Dr. Francis Dubé and Mr. Donald Bubar as Co‐CEOs on an

interim basis to lead the Company through the current transition period. Both will report directly to the

Board of Directors and work closely with senior management responsible for operations led by Vice

President, Peter Wood, P.Eng., P.Geo.

Dr. Francis Dubé lead the successful proxy battle that saw the incumbent board of directors removed in

favour of the dissident board on May 11th 2018. Since then, Dr. Dubé has brought together a strong,

diversified Board of Directors and management team. He will build on his role as Head of Market

Development and Technology by working with the management team to build business relationships with

end users and other participants in the graphene/nano‐materials market. Dr. Dubé will also act as Interim

Chairman of the Board, a role he has played since the departure of former Chairman, Mr. Brett Richards.

Zenyatta is also pleased to have Mr. Donald Bubar, P.Geo. and a Director of Zenyatta agree to take on the

role of Co‐CEO with responsibility for corporate administration and investor communications. Mr. Bubar

is an industry veteran bringing over 40 years of mineral exploration and development experience to the

Zenyatta team. As CEO of Avalon Advanced Materials Inc., Mr. Bubar has over 20 years of experience in

developing specialty materials resources with emerging markets in clean technology similar to the Albany

Graphite Project. He also has a reputation for making environmental and social responsibility a high

priority in any mineral resource development project. Mr. Bubar will work closely with Dr. Dube to re‐

build the company’s relationship with the capital markets.

The Company also announces that it has made a grant of stock options under its stock option plan to

certain of its directors and officers to acquire a total of 900,000 common shares of the Company. In

addition, the Company has granted options to acquire an aggregate of 400,000 common shares of the

Company to certain non‐executive employees and consultants. All of the options are exercisable at a price

of $0.53 per share. One‐third of the options vested on the date of their grant, one third of the options will

vest six months following the date of grant and the balance will vest on the one year anniversary of the

date of grant. The options have a term of five (5) years and are subject in all respects to the terms of the

Company’s stock option plan and the policies of the TSX Venture Exchange.