Grizzly Provides Exploration and Corporate Update and Announces Private Placement
Grizzly Provides Exploration and Corporate
Update and Announces Private Placement
Edmonton, Alberta--(Newsfile Corp. - September 11, 2025) -
Grizzly Discoveries Inc. (TSXV: GZD)
(FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company")
is pleased to provide the following
exploration and corporate update and to announce a private placement offering for gross proceeds of up
to $1 Million.
Beaverdell Exploration
Grizzly has recently conducted a small prospecting and sampling program near Beaverdell in order to
satisfy some assessment requirements on some newly staked mineral claims in the Beaverdell area of
the Greenwood District, British Columbia. These results from the sampling program conducted in the
Beaverdell target area within the Greenwood Precious and Battery Metals Project will be disclosed once
they are received.
Highlights:
A total of 50 rock grab samples were collected from mostly outcrop and some mineralized dump
material across the Beaverdell claims in July 2025, including the newly acquired ground.
Grizzly has x hectares in y mineral claims surrounding the historical Beaverdell Mine.
Grizzly's Beaverdell mineral claims surround and are adjacent to the historical Beaverdell Mine
which produced approximately 34.5 million ounces of silver, 16,700 ounces of gold, 30.6 million
pounds of zinc and 25.6 million pounds of lead between 1913 and 1991.
Figure 1: Sulphide mineralization found and sampled on the Beaverdell Property, 2025.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/265973_2bf15c0b94fa6a05_002full.jpg
Motherlode Crown Grant Purchase Agreement
On June 17, 2024, the Company announced a purchase agreement (the "Purchase Agreement") with
First Majestic Silver Corp. ("First Majestic") to acquire 13 historical Crown Grants collectively known as
the Motherlode Crown Grants near Greenwood, British Columbia.
The Company has been advised that, prior to completion of the Acquisition, certain of the Crown Grants
have been forfeited to the Crown due to the non-payment of taxes. As a result, those specific Crown
Grants are no longer available for acquisition by the Company under the terms of the Purchase
Agreement.
Notwithstanding the forfeiture of certain Crown Grants, Grizzly's mineral claims that overlap significant
portions of areas covered by the Crown Grants remain valid and in good standing. With the forfeited
Crown Grants now held by the Crown, no other third party can acquire superseding rights in respect of
those areas, thereby enhancing the Company's security of tenure on its overlapping mineral claims.
The Company is evaluating its options with respect to the Purchase Agreement with First Majestic in
light of this development.
Plans for Fall 2025 Exploration at Greenwood:
Rock and soil sampling along with drilling at the Midway and Motherlode Targets are being planned for
fall 2025, depending upon financing. The results for the Beaverdell sampling with be announced as they
become available. Additional results should be forthcoming over the next coming months as work
progresses and will be presented in additional news releases.
Brian Testo, President and CEO of Grizzly Discoveries, stated, "
We are excited and are looking forward
to pursuing a number of high grade gold - silver - copper - lead -zinc showings and historical mines
with drilling in the fall of 2025 along with additional exploration for significant battery metal prospects
in our current 175,000+ acre land holdings in the Greenwood District. We have barely scratched the
surface in terms of exploration!
While we are disappointed that not all of the Crown Grants are available for acquisition, this
development ultimately provides greater security for our overlapping mineral claims. This ensures
that our exploration plans in the Greenwood District can continue without the risk of competing Crown
Grant ownership. We will continue to work with First Majestic to assess the best path forward.
"
Private Placement Financing
Grizzly announces the initiation of a private placement (the "Offering") of Units and FT Units for
aggregate gross proceeds of up to $1,000,000 if fully subscribed.
Private Placement Offering
The Offering consists of up to 8,333,333 Units and up to 25,000,000 of any combination of Units and FT
Units.
Each Unit shall consist of one common share of the Company ("Common Share") and one
Common Share purchase warrant entitling the warrant holder to purchase an additional Common Share
for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant
holder that the volume-weighted average trading price of the Common Shares on the TSX Venture
Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24
months from the date of issuance ("Warrant").
Each FT Unit shall consist of one Common Share and one
half of one Warrant, each of which shall be issued as a "flow through share" for the purposes of the
Income Tax Act (Canada).
The Offering is being offered to qualified subscribers in the Provinces of
Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion
determine, in reliance upon exemptions from the registration and prospectus requirements of applicable
securities legislation.
The Company intends to use the proceeds of the Offering, if fully subscribed with the maximum of
25,000,000 in FT Units and 8,333,333 Units, as follows:
Mineral Property Exploration
$ 750,000
Mineral Rights and Exploration Permits
80,000
Working capital
Outstanding management fees to Officers
$ 44,000
Other accounts payable
56,000
$ 100,000
Corporate Overhead
Management fees to Officers
$ 18,000
(3 months)
Other Corporate Overhead
52,000
$ 70,000
Maximum proceeds
$ 1,000,000
There is no minimum to the Offering.
If the Company closes on less than the maximum proceeds, or if the
proportion of Units and FT Units differs from the above, the use of proceeds will be adjusted.
In connection with the Offering, the Company may pay finders fees payable in any combination of cash,
Units, and Warrants to registered broker dealers, limited market dealers or arm's length persons in
accordance with the policies of the TSX Venture Exchange (the "Exchange") and applicable securities
legislation and regulations.
The Common Shares and any Common Shares issued on exercise of the
Warrants are subject to restrictions on trading until four months and one day from the date of issuance in
accordance with the policies of the Exchange.
The Offering is subject to acceptance of the TSX Venture Exchange.
Quality Assurance and Control
Rock and soil samples are being analyzed at ALS Global Laboratories (Geochemistry Division) in
Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay
with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and
rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the
mineralization hosted on the project.
The sampling program was undertaken by Company personnel under the direction of Michael B.
Dufresne, M.Sc., P.Geol., P.Geo.. A secure chain of custody is maintained in transporting and storing of
all samples.
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 a non-independent Consultant
and Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture
Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of
precious and base metals properties in southeastern British Columbia.
Grizzly is run by highly
experienced junior resource sector management team, who have a track record of advancing
exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
Email :
For further information, please visit our website at
www.grizzlydiscoveries.com
or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email:
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN
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https://www.newsfilecorp.com/release/265973