ZEN Zentek Ltd

Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSX VENTURE:ZEN) is pleased to
provide results from an independent mineralogical study of drill core samples
from the newly discovered Albany Graphite Deposit located near Hearst in
north-eastern Ontario. The following significant observations were made:




--  Flake sizes of coarse, medium and fine ranging from 50 to greater than
    300 microns (-270 to +40 mesh size) 
--  Characterized as a magmatic hydrothermal style of graphite
    mineralization (similar to the high value Sri Lankan type deposits) 
--  Graphite represents essentially all of the total reported Carbon assay
    values (i.e. Carbon related to carbonate is less than 1%)



Aubrey Eveleigh, President and CEO stated "Zenyatta management considers these
latest results to be very important, especially the range in flake size, which
includes the high value coarse flake. Coarse flake graphite is greater than 175
microns (or +80 mesh) in size. Flake size and purity are key parameters in
establishing the potential value and marketability of any graphite product
derived from the Albany Graphite Deposit. The Company is planning to conduct
metallurgical testing of the graphite zones and carry out a more aggressive
drilling campaign to determine the full extent of the deposit". 


The mineralogical report was prepared by Dr. Andrew Conly, Ph.D. of Lakehead
University Mineralogy and Experimental Laboratory ("LUMINX") in Thunder Bay,
Ontario. The petrographic observations were from four samples of the
graphite-rich breccia in zone #2 of drill hole Z11-4F1.


As previously announced in the Company's news release dated 19 January 2012, a
recent drill hole on the Albany project testing a large airborne EM conductor
measuring 1400 metres by 800 metres, intersected eight (8) separate and
extensive graphite-rich breccia zones. The geophysical anomaly was explained by
the conductive graphite matrix which is highly unusual in character and size.
Core photos, section and maps can be seen on the website at www.zenyatta.ca and
will also be available for viewing in the Core Shack at the PDAC on Sunday and
Monday. The following lists the results for total carbon ("C") from each of the
zones, which are believed to represent true width (in metres): 




Zone 1   -   79.8 -   89.7  yielded  4.6% C  over   9.9m;
Zone 2   -  112.5 -  180.0  yielded  4.2% C  over  67.5m;
Zone 3   -  183.1 -  191.0  yielded  3.3% C  over   7.9m;
Zone 4   -  329.5 -  377.7  yielded  2.5% C  over  48.2m;
Zone 5   -  411.0 -  437.4  yielded  3.0% C  over  26.4m;
Zone 6   -  467.3 -  472.8  yielded  4.2% C  over   5.5m;
Zone 7   -  481.0 -  488.5  yielded  2.1% C  over   7.5m;
Zone 8   -  506.0 -  522.0  yielded  3.0% C  over   16.0m



The graphite discovery is located 30km north of the Trans Canada Highway and a
gas pipeline. 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. 


A similar deposit may be the vein graphite deposits of Sri Lanka. Vein graphite
has been interpreted as being derived by hydrothermal fluids, as in the Albany
Graphite Deposit. The origin of the graphite is proposed to be derived from a
CO2 rich fluid, likely related to the emplacement of a carbonatite. This CO2
rich fluid could promote hydraulic fracturing (brecciation) and precipitation of
vein graphite. Graphite veins and breccias are quite rare, and very few are
described in the geologic literature.  


The Bogala Mine, a Sri Lankan graphite deposit, has been in production since
1847. It is a high grade, narrow vein (20cm), underground mine. Sri Lankan
graphite still enjoys great demand due to its unusually high purity and unique
physical properties.


The outlook for the global graphite market is very promising with demand growing
rapidly from new applications in clean technology including fuel cells, solar
panels and rechargeable batteries. China produces over 70% of global supply and,
like other commodities, now has less available for export as domestic demand
grows. As global demand outstrips supply, graphite prices have increased
substantially, more than doubling over the past three years. 


Graphite is a natural form of carbon with the chemical formula C, which it
shares with diamond and coal. 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 hybrid 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 technical information contained in this news
release. Analyses was carried out by ALS Chemex Labs using a total carbon (LECO)
method code of C-IR07 and a multi element package ICP-MS with code ME-MS81. 


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", 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.

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