Vancouver, British Columbia--(Newsfile Corp. - September 8, 2017) - Kaizen Discovery Inc. (TSXV: KZD) today announced that the
Pinaya Copper-Gold Project in Peru has entered the final stage of government review prior to the Peruvian General Directorate of
Mining (DGM) issuing Kaizen with authorization to commence drilling. Kaizen also announced that it is increasing its ownership of
the Aspen Grove Copper-Gold Project in British Columbia from 60% to 100%, by purchasing the 40% held by its joint-venture partner,
ITOCHU Corporation.
Kaizen's Peruvian subsidiary, which holds the Pinaya Project, received notification from the DGM that it has entered the final
stage of review — a "Consulta Previa" or "prior consultation" review — prior to the DGM issuing Kaizen with the Authorization to
Commence Activities for the company's planned drilling program at the Pinaya Project.
Under Peruvian law, the government-led prior consultation process verifies that the considerations of any local peoples that
could represent an indigenous population have been recognized. This process is designed to ensure that, as the project advances,
future community stakeholder relations are managed in a transparent and comprehensive manner.
The company is assessing its options and the possible implications for its planned 2017 exploration program. Kaizen will provide
an update on its planned drilling program at Pinaya once the Ministry of Energy and Mines completes the prior consultation
process.
Kaizen to acquire 100% ownership of the Aspen Grove Project
On August 31, 2017, Kaizen and ITOCHU Corporation entered into a sale-and-purchase agreement that will provide Kaizen with 100%
ownership of the Aspen Grove Project, located in southern British Columbia. Under the provisions of the agreement, Kaizen's
ownership of KZD Aspen Grove Holding Ltd., which holds title to the Aspen Grove property, will increase from 60% to 100%, and
ITOCHU will receive C$293,200 in exchange for relinquishing its 40% stake. The transaction is subject to certain closing
conditions, which are expected to be completed later this month.
Kaizen is assessing its options for the Aspen Grove Project, and discussions are ongoing with potentially interested parties for
the possible sale or joint venture of the project.
About Kaizen Discovery
Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada. More information
on Kaizen is available at www.kaizendiscovery.com.
Information contact
Bill Trenaman
+1-604-669-6446
info@kaizendiscovery.com
Neither the 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.
FORWARD-LOOKING STATEMENTS
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning
of applicable securities laws, including without limitation (i) statements regarding the expected closing date of the
sale-and-purchase agreement with ITOCHU. Such statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Kaizen Discovery, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements
can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate",
"estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current
expectations regarding future events, performance and results and speak only as of the date of this news
release.