Kaizen Discovery Grants Equity Incentive Awards

Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Kaizen Discovery Inc. (TSXV: KZD) (otherwise "Kaizen" or "the Company") announces today that, pursuant to its three equity incentive plans (the "Plans") as approved by the Shareholders at the September 27, 2021 Annual General Meeting, the Board of Directors have approved an aggregate of 1,538,000 in stock options ("Stock Options"), long term incentive grants ("RSUs") and deferred share units ("DSUs") to its directors, officers, consultants and staff to acquire up to an aggregate of 1,538,000 common shares in the capital of the company.

641,334 Stock Options were granted to Directors, Officers, Consultants and Employees to purchase up to an aggregate 641,334 common shares of the Company. The Stock Options are exercisable at a price of $0.495 per common share and will vest 33 1/3% six (6) months after the date of the grant, with an additional 33 1/3% vesting twelve (12) months after the date of grant and the remaining 33 1/3% vesting two (2) years after the date of grant. The Options expire on February 7, 2027.

405,000 RSUs were granted to Officers, Consultants and Employees, and will vest as to one-third on each of the first, second and third anniversaries of the date of the grant.

491,666 DSUs were granted, which are solely awarded to the Directors, and are redeemable upon the retirement or replacement of a director.

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

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.

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