Grizzly Provides Update ON Exploration at Greenwood, BC and Grizzly Greenwood Plans FOR 2019

Suite 363, 9768 170th Street,

Edmonton, Alberta, Canada, T5T 5L4

Tel: 780-693-2242 Fax: 780-693-2572

TSXV: GZD

OTCQX: GZDIF

Frankfurt: G6H

February 25, 2019

GRIZZLY PROVIDES UPDATE ON EXPLORATION AT GREENWOOD, BC

AND GRIZZLY GREENWOOD PLANS FOR 2019

EDMONTON, ALBERTA – February 2 5, 201 9 -- Grizzly Discoveries Inc. (TSX-V: GZD; Frankfurt: G6H ;

OTCQB: GZDIF ) ("Grizzly" or the "Company") announces that it has been advised by Kinross Gold

Corporation’s wholly owned subsidiary, KG Exploration (Canada) Inc. (“Kinross”) that it has completed its

2018 work program on the Grizzly Greenwood property, located near Greenwood in southern B.C. The

2018 work program, through drilling, has confirmed the presence of extensive epithermal alteration at

the Midway target area.

Kinross is planning further exploration within the Greenwood option area for 2019. Current plans and

budget are in planning are still to be confirmed.

The portions of Grizzly’s Greenwood Project being 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 Gr izzly’s land holdings at Greenwood. Under the

terms of a September 2015 agreement, KG Exploration (Canad a) 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 Briti sh Columbia, by incurring US$3 million in exploration expenditures over a 5 year

period. KG Exploration (Canada) Inc. ha s incurred approximately CDN $1,280,500 in exploration

expenditures to date.

Highlights of the 2018 Kinross Exploration Program

The 201 8 exploration program drilled 4 HQ core holes at the Midway epithermal target area ,

immediately east of 2017 drilling, focusing on a structure aligned with a significant hydrothermal breccia

showing. In addition, limited surface sampling and geological map ping were carried out at the Midway

and a few other target areas. A total of 1,420 m of core drilling was completed in 4 holes at the Midway

target area , testing the down-dip extent of hydrothermal features documented on surface. KG

Exploration completed approximately $CDN370,984 worth of exploration during 2018.

Drilling, at the Midway epithermal target area in 2018, yielded weak gold and silver mineralization with

up to 0.25 grams per tonne (g/t) gold (Au) and up to 7.93 g/t silver (Ag) over 1.0 m core length in hole 1,

from a hydrothermally brecciated and intensely argillic altered volcanic-sedimentary se quence

interpreted as part of the Eocene Marron Formation. Extensive argillic alteration along with widespread

brecciation and sporadic sulphide mineral ization, with occasional low grade but anomalous gold and

silver, was intersected in all 4 holes. Kinross has indicated that further work is warranted for the Midway

area, which should follow up the extensive epithermal zone that has been mapped and drilled to date.

2

Grizzly 2019 Greenwood Exploration Plans

Grizzly has identified high priority drill targe ts at the Ket 28 prospect, located within the Rock Creek

claim group of the Greenwood Project, at which historic drilling in 1994 intersected high grade gold with

52.19 g/t Au over 3.35 m core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 pros pect,

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 intersec ted, 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 Company is currently planning a 2019 exploration program that

will focus on the Ket 28 prospect , where the gold mineralization is open along strike and to d epth,

requiring further drill testing. Grizzly is planning a 10 to 15 hole drill program that will target the gold -

prospective zone in the central portion of the Ket 28 prospect, with the intention of expanding the

currently defined mineralized zone and developing a maiden mineral resource estimate. The initial Ket

28 drill program is expected to cost approximately $500,000 to $750,000, and is subject to financing.

All of the mineral claims in the Rock Creek Ket 28 claim group are 80% owned by Grizzly and 20% owned

by Mineworks Ventures Inc., a private corporation based in Vancouver, BC.

Grizzly CEO, Brian Testo, stated “Our extensive land position on the Greenwood Property h osts

numerous mineralized areas. Our initial focus is to develop a high grade gold resource estimate that can

lead to production potential. We believe the Ket 28 prospect has such potential, and this will be the first

of several recommended stages of exploration to accomplish our goals in this prolific mining region of

southeastern BC”.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture

Exchange with 63 million shares issued, focused and its precious metals and Cobalt-Copper properties in

southeastern British Columbia. The Company holds, or has an interest in , over 180,000 acres of

precious-base metal properties at its Greenwood Property. A dditionally, Grizzly holds approximately

10,000 acres with Co-Cu-Ag mineralization at its Robocop Property, both located in southeastern British

Columbia.

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

3

Email: [email protected]

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" w ithin 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 forw ard-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, e stimates,

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, incl uding 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.