Zenyatta Ventures Ltd.; Motion for Injunction by First Nation community adjourned to May 20 While Drilling Continues
THUNDER BAY—12 May 2011
Zenyatta Ventures Ltd. (ZEN : TSX Venture) (“Zenyatta” or “Company”) announces that the Motion for Injunction by Constance Lake First Nation (“CLFN”) in Ontario Superior Court on Friday April 29 was adjourned until Wednesday May 11 and is adjourned again until Friday May 20. In the meantime, the Judge has ordered that CLFN, Zenyatta and Ontario (“Crown”) carry on further consultation while drilling continues on the current claim blocks. Discussions between Zenyatta, CLFN and the Crown took place on May 5 and 6 and will continue this week. Under the Court Order, Zenyatta can move a drill to another specified claim block if it desires. The Court expects that CLFN will have completed its archaeological report and traditional practice consultation respecting all sites for Zenyatta's current exploration program by May 20. If the parties do not reach a consensus in the interim, the Motion for an Interim Injunction will be argued on Friday May 20 before Justice Lederman in Ontario Superior Court.
Zenyatta remains committed to on-going good faith dialogue with the Crown and CLFN respecting the community's concerns but will defend its rights and interests. The Company’s Board and management are optimistic that an agreement can be reached with CLFN.
To find out more on Zenyatta Ventures Ltd., please visit our website at www.zenyatta.ca or contact the Company at zenyatta%23ca|info or Tel. 807-346-1660. This news release may contain forward-looking statements and is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the Company’s forward-looking statements and expectations. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.