GZD.V · 2024-01-17 12:00:00

Grizzly Reports the First Sample Results for the Newly Acquired Ground in the Beaverdell Area of the Greenwood, BC Precious and Battery Metals Project

Sampling & Geoscience Results

Grizzly Reports the First Sample Results for

the Newly Acquired Ground in the Beaverdell

Area of the Greenwood, BC Precious and

Battery Metals Project

Edmonton, Alberta--(Newsfile Corp. - January 17, 2024) -

Grizzly Discoveries Inc. (TSXV: GZD)

(FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company")

is pleased to announce the first assay

results for rock and soil samples collected from the newly acquired and staked mineral claims in the

Beaverdell area of the Greenwood District. These are the first results from an initial exploration program

conducted in the South Beaverdell target area within the Greenwood Precious and Battery Metals

Project. In addition, results will also be forthcoming from additional prospecting and sampling in the

Greenwood area and from recent work conducted at the Robocop Property following up on copper-

cobalt anomalous soils identified in work over the last two years.

Highlights:

A total of 49 rock grab samples were collected from mostly outcrop and some mineralized dump

material across the South Beaverdell claims acquired in early 2023 (Figures 1 & 2).

Additional staking has been conducted to expand and firm up the land position in the area.

Rock grab samples from showings and mineralized dumps in the Gold Drop portion of the claim

area returned 4 samples with >42.8 grams per tonne (g/t) silver (Ag) (1.25 ounces per ton [opt] up

to 97 g/t (2.83 opt) Ag.

The high Ag values are often accompanied by high lead and zinc in the 0.1 - 2% range. The high

values are associated with gossanous sulphide material in quartz veins and breccia in a shear

zone in granodiorite in contact with a diorite or felsic porphyry dike (Figures 3 & 4).

A few 2023 samples from the Gold Drop claim returned weakly anomalous gold values. A single

sample from a road cut to the south yielded 0.624 g/t (0.018 opt) Au (Figures 1 and 2). Historical

exploration has yielded a number of high silver and gold values from selective grab samples and

some chip samples from the Gold Drop underground workings including up to 51.4 g/t (1.5 opt) Au

and 377.1 g/t (11.0 opt) Ag (Minfile 082ESW041).

A total of 329 soil samples were collected during 2023 at and surrounding the Gold Drop showing.

A number of soil samples returned anomalous Ag, Au and Zn results (Figures 1, 2 and 5). A total of

25 samples yielded from 20 up to 348 parts per billion (ppb) Au with three samples yielding >200

ppb Au (Figure 5).

Brian Testo, President and CEO of Grizzly Discoveries, stated "

We are excited with the new results to

date from the new Beaverdell mineral claims and we are planning follow-up exploration including

extensive soil and rock sampling programs along with ground geophysical surveys. Much of the newly

acquired ground has seen little exploration and evaluation since the 1980's. We also are looking

forward to pursuing a number of high grade gold - silver - copper showings and historical mines with

drilling in 2024 along with additional exploration for significant battery metal prospects in our current

165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms

of exploration!

Figure 1: Initial 2023 Ag results rock & soil sampling - South Beaverdell Area, Greenwood

Project.