Grizzly Provides Greenwood Property Update and 2018 Exploration Plans
Suite 363, 9768 170th Street,
Edmonton, Alberta, Canada, T5T 5L4
Tel: 780-693-2242 Fax: 780-693-2572
TSXV: GZD
OTCBB: GZDIF
Frankfurt: G6H
March 6, 2018
GRIZZLY PROVIDES GREENWOOD PROPERTY UPDATE AND 2018 EXPLORATION PLANS
EDMONTON, ALBERTA – March 6, 2018 -- Grizzly Discoveries Inc. (TSX-V: GZD; Frankfurt: G6H)
("Grizzly" or the "Company") is pleased to announce that it has submitted permit applications to
conduct drilling at three targets, all located within its Greenwood Project area in southern B.C., including
the Ket28, Motherlode North and Dayton targets.
The primary focus of the Company's planned exploration activities during 2018 will be drilling at the Ket
28 gold target with the intent to outline a maiden resource. Exploration drilling is also planned for the
Motherlode precious metal target and the Dayton copper -gold porphyry target, but will be dependent
on financing activities. Additional follow up surface exploration is planned for a number of mineralized
target areas that have yielded copper-cobalt geochemical anomalies in surface sampling obtained
through the Company's previous exploration.
The Company also announces that it has, since February 1, 2018, received gross proceeds of $142,075
and issued 1,961,000 common shares pursuant to the exercise of outstanding warrants and options with
exercise prices between $0.05 and $0.075 per common share.
Ket 28 Geology and Prior Results
At the Ket28, Grizzly and other explorers have intersected anomalous gold associated with sulphide
bearing silicified sediments, hornfels and skarn. The gold mineralization is associated with several
structures at the edge of a strong positive ovoid aeromagnetic anomaly that is 2 km in length by 1 km in
width and is likely indicative of an underlying intrusion . The Ket 28 target is approximately 13 km
northwest of Kinross' Buckhorn gold mine which is hosted in a pyroxene skarn south of the Canada -US
border.
Historic exploration in the 1990's by other explorers at the Ket 28 prospect, which is located within th e
Rock Creek claim group of the Greenwood Project, yielded high grade gold including up to 52.19 grams
per tonne of gold (“g/t Au”) over 3.35 m core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28
target following up the historic drilling in the mid 1990`s yielded up to 2.77 g/t Au over 11 m core length
and 8.75 g/t Au over 3 m with a higher grade zone of 11.90 g/t Au over 2 m core length. Wider intervals
of lower grade mineralization were also intersected as well with 1.02 g/t Au over 13.5 m core length and
1.19 g/t Au over 10.35 m core length. The gold mineralization intersected by prior explorers and Grizzly
is considered open along strike and to depth.
The Company has submitted an application to the BC Ministry of Mines to conduct drilling an d other
exploration at the Ket 28 target with approximately 2,500 m in 10 to 12 drill holes planned for 2018. The
proposed drill program will target the gold -prospective zone in the central portion of the Ket 28 target
area, with the intention of developin g a maiden mineral resource estimate and expanding the currently
defined limits of gold mineralization. The initial Ket 28 drill program is expected to cost approximately
$500,000 and is subject to financing.
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Motherlode Geology and Prior Results
North of the historic Motherlode mine, drilling of a coincident magnetic and electromagnetic anomaly in
2011 yielded a new gold discovery with the intersection of 1.56 g/t Au and 11.12 g/t silver (Ag) across
19.0 m core length with a high grade zone of 17.15 g/t A u, 41.7 g/t Ag, 0.56% lead (Pb) and 1.51% zinc
(Zn) across 1.5 m core length in hole 11ML03. Drillhole 11ML05, collared 40 m northeast of 11ML03,
yielded similar results, with 1.64 g/t Au and 3.15 g/t Ag across 14.85 m core length with a higher grade
zone of 6.79 g/t Au, 11.1 g/t Ag and 1.04% Zn across 1.5 m core length. Hole 11ML04, drilled beneath
11ML03, yielded 0.51 g/t Au and 1.02 g/t Ag over 13.5 m core length with a higher grade zone of 3.43
g/t Au, 2.90 g/t Ag and 0.8% Zn over 1.5 m core length.
The Au -Ag-Zn-Pb intersections in drillholes 11ML03, 11ML04 and 11ML05 are associated with fine
grained pyrite, sphalerite and galena in chlorite -biotite altered hornfelsed late Paleozoic to Triassic
sedimentary rocks adjacent to a small alkalic intrusion. Br eccia zones and silicification are common in
the hornfels zone. Small sections of marble and skarn with elevated precious and base metals were
intersected in all three holes. Further drilling is being planned for the Motherlode North discovery. The
Company has submitted an application to the BC Ministry of Mines to conduct drilling and other
exploration at the Motherlode North target area.
Dayton Geology and Prior Results
Grizzly's Greenwood Property is considered highly prospective for the presence of co pper porphyries
similar to those which have recently been discovered in northwestern and central British Columbia. A
recent strategic review has identified a number of prospects that have geological characteristics and, in
some cases, mineralization that i s indicative of copper porphyry style mineralization. The Dayton
prospect, on which exploration was conducted by the Company between 2009 and 2011 includ ing
drilling, yielded strong evidence of copper-gold porphyry style mineralization.
A total of 1,021 soil samples indicated a strong northwest -trending copper-gold anomaly approximately
450 m by 200 m with more than 100 of the samples containing from 100 parts per million (ppm) copper
(Cu) up to 1,225 ppm Cu, along with 40 samples containing greater than 50 parts per billion Au. Surface
mapping in the area identified a number of occurrences of pyrite and chalcopyrite, locally associated
with high Cu and Au grades, in association with strongly hornfelsed volcanics, sediments and alkaline
intrusions, along with local skarn. An Induced Polarization survey identified a number of high quality
positive chargeability anomalies, a couple of which are associated with the soil anomaly.
A drilling program conducted in 2010 intersected up to 0.03% Cu and 0.18 g/t Au over 96 m of core
length, including a higher grade zone of 0. 38% copper equivalent ( CuEq) over 8.1 m core length . In
subsequent drilling conducted in 2011, a second eastern IP anomaly with a weak associated Cu-Au soil
anomaly was drill tested and yielded 0.22% CuEq over 117 m of core length, with a high grade zone of
0.42% CuEq (0.15% Cu, 0.43 g/t Au and 0.81 g/t Ag) over 51 m near the top of the hole. These drill holes
intersected the Cu-Au-Ag mineralization in large alteration and breccia zone with grade s that compare
favourably to the reported grades for a number of recently discovered Cu porphyries in northwest BC.
Potential for Cobalt Mineralization
During late 2017, the Company performed an initial review to see if its land holdings were prospective
for the presence of cobalt (Co). The strategic review identified the presence of at least 13 rock grab
samples with greater than 0.05%, including up to 0.10% Co, from at least five separate target
occurrences across the eastern half of Grizzly's Project a rea. The database shows an additional 31 rock
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grab samples that have yielded assays of between 0.02 and 0.05% Co. Maps showing the anomalous
values and locations for Co at the Project are provided on the Company's website by clicking the
following link: Grizzly Discoveries Cobalt Maps:
http://www.grizzlydiscoveries.com/index.php/projects/bc-precious-metals/greenwood-cobalt
A preliminary review of the sa mple database indicates that many of the rock samples with anomalous
Co also contain anomalous values for Cu and precious metals including Au and Ag. In many cases, the
samples with anomalous Co were collected from Cu -enriched skarn and hornfels developed in Paleozoic
sediments and intrusions, where the original sampling targeted precious metals. Grizzly has initiated a
property wide review, including its extensive soil and drillhole database along with much of the historic
data for the district that it has compiled over the years. The goal will be to target potential Co -Cu-Au-Ag
mineralization associated with skarn across the district and come up with targets for follow -up
exploration during summer and fall 2018.
Brian Testo, President and CEO of Grizzly, stated “We are excited that with the ongoing recovering of the
mining sector during 2018, that we will now be able to push forward with our plans to expand the
mineralization identified at Ket 28 and other targets in the Greenwood Project area. In addition , we look
forward to our phase 1 surface exploration program focused on cobalt.”
Warrant and Options Exercised
During the third fiscal quarter -to-date (beginning February 1, 2018), the Company has received gross
proceeds of $132,075 from the exercise of 1,761,000 outstanding warrants issued in private placements
in 2016 and 2017, each with an exercise price of $0.075 per common share. Additionally the Company
has received gross proceeds of $10,000 pursuant to an optionee exercising 200,000 stock options with
an exercise price of $0.05 per common share issued in 2017 under the Company's stock option plan.
The exercise of these warrants and options has resulted in the issuance of 1,961,000 common shares of
the Grizzly.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture
Exchange with 58.7 million shares issued, focused on developing significant Potash assets in Alberta and
its precious metals properties in southeastern Br itish 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; a nd
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
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For further informa tion, please visit our website at www.grizzlydiscoveries.com or contact Investor
Relations:
Nancy Massicotte
IR PRO COMMUNICATIONS INC.
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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," "b elieve," "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 be lieves 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 commo dity 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 a nnual 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.