Sale of Peru Pinaya Copper-Gold Project to Kaizen Receives AM Gold Shareholders Approval

Kaizen Discovery Inc. is pleased to announce that AM Gold Inc. shareholders passed a special resolution to approve the previously announced sale to Kaizen of Canper Exploraciones S.A.C., a Peruvian subsidiary of AM Gold whose material asset is the Pinaya Copper-Gold Project. The special resolution was approved by 99.9% of the votes cast by AM Gold shareholders.

The closing of the transaction with AM Gold is subject to certain other closing conditions, including (i) approval of the transaction by the TSX Venture Exchange in respect of both Kaizen and AM Gold; (ii) delivery of a title opinion for the Pinaya Project acceptable to Kaizen, and (iii) no material adverse effect upon closing for Kaizen, AM Gold or Canper.

The Pinaya Project covers 192 square kilometres and includes more than 25 kilometres of strike length within the emerging Andahuaylas-Yauri Porphyry Belt in southeastern Peru. This belt hosts numerous productive and world-class porphyry and skarn systems, including Las Bambas, Tintaya, Constancia and Haquira.