Guelph, ON Zentek Ltd. (“Zentek” or the “Company”) (Nasdaq: ZTEK; TSX-V: ZEN), an intellectual property development and commercialization company, is pleased to announce an updated Mineral Resource estimate for the Albany Graphite Project located north of Lake Superior and southwest of James Bay in Northeastern Ontario, which is owned by Zentek’s wholly-owned subsidiary Albany Graphite Corp. (“AGC”). Overview of the Updated Mineral Resource Estimate AGC engaged SLR Consulting (Canada) Ltd. (“SLR”) to update the Mineral Resource estimate that was previously disclosed in the Technical Report on The Preliminary Economic Assessment of the Albany Graphite Project, Northern Ontario, Canada prepared for the Company by Roscoe Postle Associates Inc. dated July 9, 2015 (the “2015 PEA”). An updated Mineral Resource estimate is a requirement for AGC to list on a Canadian exchange. Mineral Resources of graphite are contained within two vertical pipes spaced approximately 250 m apart. The East Pipe is approximately 300 m long in the ...

Guelph, ON Zentek Ltd. (“Zentek” or the “Company”) (Nasdaq: ZTEK; TSX-V: ZEN), a graphene technology development and commercialization company is pleased to announce that further to its press release dated April 24, 2023, the Company has completed the transfer of the Albany Graphite Project (as defined below) to its wholly-owned subsidiary, Albany Graphite Corp. (“Albany”) pursuant to a Property Purchase Agreement dated April 24, 2023 (the “Agreement”). The Agreement: Pursuant to the terms of the Agreement, Zentek transferred to Albany the ownership of the Albany Graphite Project, including the mining claims and all related chattel, drill core, and applicable contracts, in consideration for the issuance by Albany to Zentek of 59,999,900 common shares of Albany. Albany Graphite Project: Albany is now the owner of the igneous-hosted fluid-derived graphite deposit located in Claim Block 4F, comprised of 521 mining claims (461 single-cell claims and 60 boundary-cell claims) located north of Lake Superior ...

Guelph, ON Zentek Ltd. (“Zentek” or the “Company”) (Nasdaq: ZTEK; TSX-V: ZEN), a graphene technology development and commercialization company, further to its press release dated April 25, 2023 announcing the intention to transfer its Albany Graphite Project located north of Lake Superior and southwest of James Bay in Ontario to its currently wholly-owned subsidiary Albany Graphite Corp., provides a review of some of the past testing conducted on the material produced from the Albany Graphite Project, and key drivers of value since 2015. The Albany Graphite deposit was discovered in 2011 and was identified as a unique hydrothermal graphite deposit formed by an igneous rather than sedimentary process. Flake graphite is formed by the metamorphism of sedimentary rocks rich in organic carbonaceous material. Albany graphite, however, was formed through an igneous process where carbon-bearing fluids separated from an ascending carbon-rich magma and were subsequently precipitated as graphite. Due to this unique ...