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Zenyatta Ventures Ltd
Symbol ZEN
Shares Issued 55,059,862
Close 2013-09-10 C$ 3.25
Market Cap C$ 178,944,552
Recent Sedar Documents

Zenyatta blames share price woes on inaccurate info

2013-09-10 09:22 ET - News Release

Mr. Aubrey Eveleigh reports

ZENYATTA VENTURES LTD. CLARIFIES COMMENTARY RELATED TO RECENT TRADING ACTIVITY

Zenyatta Ventures Ltd. has become aware of recent misleading and inaccurate commentary in the marketplace regarding the company's 100-per-cent-owned Albany graphite deposit which has negatively affected the share price. Although the company would prefer to stay focused on continued development of its exciting graphite project, it feels a need, from time to time, to set the record straight from malicious attacks.

Aubrey Eveleigh, president and chief executive officer, stated: "Zenyatta intends to vigorously defend itself against negligent misrepresentation. Any unfounded and misleading information about our company will be pursued legally to protect the interests of our shareholders and reputation of Zenyatta."

Mr. Eveleigh further stated: "The company has discovered a very unique (one-of-a-kind) hydrothermal graphite deposit that consists of two large breccia pipes. It is the largest and only known graphite deposit of this type under development in the world. SGS Canada Inc. has conclusively demonstrated that an ultrahigh-purity graphitic carbon (99.99 per cent Cg) can be achieved from a simple and relatively inexpensive caustic (NaOH) bake process. This is extraordinary in the world of graphite upgrading given Zenyatta does not require the traditional and expensive upgrading methods of aggressive acid and/or thermal treatment."

Zenyatta continues to explore its 100-per-cent-owned Albany (hydrothermal) graphite deposit located in Northern Ontario, Canada, and anticipates releasing additional drill results and graphite characteristics in the near term. An NI 43-101 resource estimate by RPA is in on track for early fourth quarter 2013, and the company remains fully financed. A preliminary economic assessment (PEA) is expected to be concluded in the first quarter of 2014. In preparation for a PEA, Roskill Information Services Ltd. has been retained to undertake a detailed world graphite marketing study and SGS Canada Inc. is to provide an optimized flow sheet after processing a five-tonne mini-bulk sample.

Zenyatta's Albany graphite deposit is located 30 kilometres north of the Trans-Canada Highway, power line and natural gas pipeline near the communities of Constance Lake First Nation and Hearst in Northern Ontario, Canada. A rail line is located 70 km away and an all-weather road approximately four to five km from the graphite deposit. The deposit is near surface, underneath glacial till overburden and a thin veneer of Paleozoic sedimentary cover rocks.

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 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.

Zenyatta reminds the investment community that all official information regarding the company must be derived solely from disclosure documents filed on SEDAR, and on the company's website. All public disclosures provided by Zenyatta are full, complete and accurate as required by reporting standards. The company further confirms that it is not aware of any material undisclosed development or other reason for recent volatility in the trading price of the company's common shares.

Aubrey Eveleigh, president and CEO of Zenyatta Ventures, is the qualified person under National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

We seek Safe Harbor.

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