Greenwood Property 2017 Exploration Program Completed and Submitted to Grizzly Discoveries
Greenwood Property 2017 Exploration Program
Completed and Submitted to Grizzly Discoveries
Edmonton, Alberta--(Newsfile Corp. - March 2, 2018) -
Grizzly Discoveries Inc.
(TSXV: GZD) (OTC Pink: GZDIF) (FSE:
G6H)
("Grizzly" or the "Company")
is pleased to announce that it has been advised by Kinross Gold Corporation's wholly
owned subsidiary, KG Exploration (Canada) Inc. ("Kinross") that Kinross has completed its 2017 work program on the Grizzly
Greenwood property, located near Greenwood in southern B.C. The 2017 work program has confirmed, with drilling, the
presence of precious metal mineralization at the Midway and Mt Attwood-Overlander target areas.
Executives of Grizzly will be attending the PDAC 2018 International Convention, Trade Show & Investors Exchange at the Metro
Toronto Convention Centre on March 4 through March 7, 2018 and can be found at Booth 3020 in the Investors Exchange
Exhibit space.
Highlights of the 2017 Kinross Exploration Program
The 2017 exploration program focused primarily on core drilling at the Midway and Mt Attwood-Overlander target areas. In
addition, surface sampling and geologic mapping were carried out at the Midway, Attwood West and Mt. Attwood - Overlander
target areas. A total of 1,129 m of core drilling was completed in 7 holes, with 3 holes at the Midway target area and 4 holes at
the Mt Attwood — Overlander target area. Kinross completed approximately CA$401,523 worth of exploration during 2017 and
are planning a follow up program for 2018.
Drilling at Midway yielded anomalous gold including up to 9.7 grams per tonne (g/t) gold (Au) over 0.8 m core length from a
narrow massive sulphide zone. Both skarn and epithermal indicators were intersected at Midway both with occasional low-grade
gold. Kinross has indicated that further drilling is warranted at Midway to follow up untested alteration and mineralization.
Drilling at Mt Attwood — Overlander targeted two veins and intersected 2.87 g/t Au over 1.0 m core length in a drusy quartz vein
in hole 1. A surface grab sample collected during 2016 from the same vein returned 16.85 g/t Au. Kinross has indicated that
further work is recommended for the Mt Attwood-Overlander area proximal to the stream silt geochemical anomalies discovered
during the 2016 exploration program. Kinross has not recommended any further drilling at Mt Attwood — Overlander in 2018 due
to the narrow intersections of veins intersected to date, even though several gold-bearing quartz veins remain un-tested.
The portion of Grizzly's Greenwood Project explored by Kinross is 100% owned by Grizzly Discoveries Inc. and includes 131
claims that form a contiguous package totaling approximately 27,346 hectares, representing approximately one third of Grizzly's
land holdings at Greenwood. Under the terms of a September 2015 agreement, KG Exploration (Canada) Inc. can earn a 75%
interest on the optioned land pursuant to an Option Agreement with Grizzly on portions of its land holdings in southeastern British
Columbia, by incurring US$3 million in exploration expenditures over a 5 year period. By the second anniversary of the
agreement, Kinross completed the initial 750 metres of diamond drilling and US$750,000 in expenditures required as at
September 23, 2017.
Planned
201
8
Kinross Exploration Program
Kinross will continue exploration efforts in 2018 with additional drilling planned at Midway, follow up work in the Mt. Attwood-
Overlander area, and continue regional evaluation and prospect/target generation.
Brian Testo, President and CEO of Grizzly, stated "
We are excited that Kinross has intersected skarn mineralization at the
Midway Target. Skarn is the host to the Buckhorn gold mineralization that Kinross has concluded mining on in the Republic
area south of the border. We look forward to further drilling by Kinross during 2018 at Midway
."
Changes in Management — Board of Directors and Advisory Committee
Pursuant to the Company's AGM held on February 6, 2018, the Company's Board of Directors consists of three incumbent
Directors: Brian Testo (President & CEO), Sam Pillersdorf, and Ray Wytinck. Mr. Doug Turnbull and Mr. Fraser Atkinson opted
not to stand for re-election to the Company's Board at the AGM, however both have been retained by the Board as Advisers,
joining Mr. Gregory Aharonian who was appointed as an Advisor on January 12, 2018. Brian Testo, President and CEO of
Grizzly, stated "
we want to thank Doug, one of the founding Directors of
Grizzly, and
Fraser for their service as Directors to
Grizzly, and look forward to continuing to work with both of them in this new advisory capacity
."
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 56.7
million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in
southeastern British Columbia.
The Company holds or has an interest in: metallic and industrial mineral permits for potash
totaling more than 60,000 acres along the Alberta-Saskatchewan border; over 180,000 acres of precious-base metal properties
in British Columbia; and more than 161,000 acres of properties which host diamondiferous kimberlites in the Buffalo Head Hills
region of Alberta.
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael
B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101
Standards of
Disclosure for Mineral Projects
.
On behalf of the Board,
Grizzly Discoveries Inc.
Brian Testo
President
(780) 693-2242
For further information, please visit our website at
www.grizzlydiscoveries.com
or contact Investor Relations:
Nancy Massicotte
IR PRO COMMUNICATIONS
INC.
Tel: 604-507-3377
Toll Free: 1-866-503-3377
Email:
www.irprocommunications.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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known
and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ
materially from those expressed or implied by the forward-looking information and statements and accordingly, undue
reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental
laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are
more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with
Canadian securities regulatory authorities and available at
www.sedar.com
. Grizzly disclaims any obligation to update or
revise any forward-looking information or statements except as may be required by law.