Zenyatta Ventures Ltd.; Director Clifford Davis Resigns From Board

THUNDER BAY, ONTARIO--(Marketwired - Aug. 11, 2014) - Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSX VENTURE:ZEN)(OTCQX:ZENYF) announces the resignation of Clifford Davis from the Board of Directors of Zenyatta.

Mr. Davis stated, "It is with much regret that I have to tender my resignation as a Director of Zenyatta Ventures Ltd. effective immediately as I can no longer serve in the capacity required of a Director due to health reasons. I am grateful for the time serving on the Board and seeing the progression of the very promising Albany graphite deposit and I offer my best wishes to all who are involved for their continued success".

Aubrey Eveleigh, President and CEO stated, "The Board of Directors and management would like to thank Mr. Davis for his contribution to the Company. Cliff has been instrumental in the development of the Albany Graphite Deposit and has served as a Director of the Company since 2009, including the Company's initial public offering in 2010. His experience and advice has been very important to the success of Zenyatta and we are very grateful. We wish him and his family the very best."

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 sample analyses and a preliminary economic assessment, 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 exploration, metallurgical processing, 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: 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 Zenyatta's activities; and other matters discussed in this news release and in filings made with securities regulators. 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. Zenyatta does not undertake to update any forward-looking statement that may be made from time to time by Zenyatta or on its behalf, except in accordance with applicable securities laws.