January 04, 2017

Kaizen Discovery appoints industry veteran Tom Peregoodoff
as President and CEO

VANCOUVER, CANADA
- Kaizen Discovery Inc. (TSXV: KZD) announced today that it has appointed mining industry veteran Tom Peregoodoff as its new President and Chief Executive Officer (CEO), effective today. Mr. Peregoodoff will replace Eric Finlayson as the company's CEO. Mr. Finlayson has held the position on an interim basis since March 31, 2016, while the company completed its search for a qualified mining executive to replace him. Mr. Finlayson will remain with Kaizen in his role as a director of the company.

Mr. Peregoodoff will share his time between Kaizen and Peregrine Diamonds (TSX: PGD), where he will continue in his role as President and Chief Executive Officer.

'We are very fortunate to have someone of Tom Peregoodoff's stature to take on the role of President and CEO for Kaizen. In Tom, Kaizen gets an experienced, results-oriented mining executive who over the years has built strong relationships across the industry. He understands exploration, he knows what it takes to work with host communities and governments, and he understands the necessary steps a company must take for responsible mineral development,' said Mr. Finlayson.

'Over the past year, we have announced significant restructuring of our board and management team, with Tom's appointment capping off this restructuring,' said David Huberman, Kaizen's Chairman. 'Tom's skill set, which has developed from more than 25 years in the mining exploration industry, is well suited to advance Kaizen's existing projects and pursue new opportunities as we look to grow our company.'

'We are confident that Tom has the passion, energy and professionalism to drive Kaizen's exploration and development while performing a similar role with Peregrine Diamonds. I truly believe we are not only stronger today than ever before, but that we are uniquely positioned for growth through exploration success.'

'Given the continuing challenging market conditions for the junior mining sector, sharing of managerial resources is a cost-effective way for companies to gain access to top-calibre, senior executives. This dual role arrangement for Tom ensures that shareholders of both Kaizen and Peregrine Diamonds benefit from having an experienced President and CEO leading their companies at a significantly reduced cost.'

Mr. Peregoodoff has more than 25 years of mining and petroleum industry experience, including the last five years in senior management positions with Peregrine Diamonds. Mr. Peregoodoff spent 18 years with BHP Billiton, where from 2008 to 2011 he was Vice President, Early Stage Exploration and was accountable for global early-stage exploration activities across all commodities. He was a member of the Minerals Exploration Executive Committee that set long-term strategy and direction for BHP Billiton's Mineral Exploration division. Prior to this he held several senior roles in BHP Billiton's exploration division in commercial, operational and technical capacities, and has extensive global experience. He also is a director of Computational Geoscience Inc., a private service company providing geoscientific interpretation services to the oil and gas and mining industries. Mr. Peregoodoff obtained a BSc. in Geophysics from the University of Calgary.

Mr. Peregoodoff commented, 'I look forward to being part of Kaizen's team working to realize the potential of its exploration portfolio. The Pinaya Copper-Gold Project in Peru represents a tremendous opportunity to make a world class copper-gold discovery and I look forward to working with the team as we advance towards this goal. My background of building and leading global exploration teams gives me the experience required to lead both companies and the shared role ensures that the pool of talented mining professionals within each group is optimized.'

More information on Kaizen is available at www.kaizendiscovery.com.

Information contact

Kaizen investor relations
+1-604-669-6446
[email protected]

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

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Kaizen's periodic filings with Canadian securities regulators. When used in this news release, words such as 'believe', 'will', 'could', 'plan', 'estimate', 'expect', 'intend', 'may', 'potential', 'should,' and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Although Kaizen has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and Kaizen disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Kaizen does not assume any liability for disclosure relating to any other company herein.

View News Release in PDF Format:
http://www.kaizendiscovery.com/i/pdf/news/2017-01-04_NR.pdf