Typhoon Survey(TM) is Underway at Kaizen Discovery's 100%-owned Pinaya Copper-Gold Project in Peru

Vancouver, British Columbia--(Newsfile Corp. - March 10, 2022) - Eric Finlayson, Interim President and Chief Executive Officer of Kaizen Discovery Inc. (TSXV: KZD) otherwise "Kaizen" or the "Company"), is pleased to report that a 129km² Typhoon^TM IP-resistivity survey is underway at the 100%-owned Pinaya Copper-Gold Project, located in the Andahuaylas-Yauri Porphyry-Skarn Belt in southeastern Peru, which contains some of the world's largest recent copper mine developments.

Photo 1: Getting Typhoon™ high-power transmitter system ready for action at Pinaya.

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Photo 2: Staff at survey site laying out cables in preparation for the Typhoon™ IP-Resistivity survey.

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"This is the largest Typhoon™ 3D IP-resistivity survey conducted to date and we are confident that it will yield new porphyry copper-gold targets for drilling later in 2022," said Eric Finlayson, Interim President and CEO of Kaizen.

2022 Typhoon™ Deep-Penetration IP-Resistivity Survey

Kaizen is using parent company Ivanhoe Electric's proprietary deep-penetration Typhoon™ high-power transmitter system to trace the Pinaya Mineral Resource and shallow chargeability anomalies to depth. The survey is designed to provide a definitive view on the deep porphyry potential of the property in advance of follow-up drilling in 2022 (see Figure 1 below). The survey will test the entire 10 km-long Pinaya hydrothermal system and explore beneath Miocene post-mineral cover rocks to the west of the Pinaya Mineral Resource (refer to Kaizen's news release dated August 9, 2021).

Figure 1. Pinaya project area with planned Typhoon™ survey overlain.

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About Kaizen

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.

ON BEHALF OF THE COMPANY

Eric Finlayson, Interim President and Chief Executive Officer

Qualified Person

Kaizen's Chief Operating Officer, Mark Gibson, Pr.Sci.Nat. is a Qualified Person as defined under NI 43-101 who has reviewed, approved and is responsible for the scientific and technical information presented in this news release.

Information contact

Ran Li +1-604-689-8765

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

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to: the timing and results of the planned Typhoon^TM survey and plans for a drill program on the Pinaya Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions; the availability of additional exploration and mineral project financing; results of the typhoon survey; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; and currency fluctuations. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116210