Grizzly Discoveries Inc. announced that crews have started to mobilize back to the Rock Creek camp to commence work within the Greenwood Precious and Battery Metals Project. Geological and prospecting crews have mobilized to the Greenwood Project to commence summer field work. Prospecting, rock and soil sampling, geological mapping, and ground geophysical surveys are immediately planned for the Midway and Imperial areas in preparation for drilling later this year.

The Company is awaiting land use permits for conducting drilling and trenching at both projects as well as a number of other areas including Sappho and Copper Mountain. The geological crew has and will be collecting a number of samples for assay. The samples will be submitted for assay and results will be reported when they become available.

The goal is to have a pipeline of high priority Ag-Au and battery metal targets that are all permitted and ready for a long 2023 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood - Republic region. 2023 Exploration Update for Greenwood Additional drilling is warranted in 2023 at both the Dayton and Motherlode North target areas in order to follow-up the anomalous results of the 2022 drilling program. In addition, there are other targets at Motherlode North in the vicinity of the Motherlode Pit, the Greyhound Pit and the Great Hopes crown grant that have yet be drill tested.

Drilling and trenching permit applications have been submitted for the 2023 season for the Midway, Sappho, Copper Mountain and Imperial targets. Additional permit applications for drilling at the Crown Point and the Overlander-Mt Attwood areas are in preparation and will be submitted in the near future. The Midway area is being targeted for copper-gold skarn and epithermal gold-silver.

The Overlander area is being targeted for mesothermal to epithermal gold-silver. At Midway, selective rock grab and composite rock grab samples from outcrop collected from the Midway Mine-Picturestone area, with 4 of 7 rock grab samples from outcropping mineralization in the Midway Mine historical pit yielded a range of 12.05 g/t (or 0.351 ounces per ton [oz/t]) Au up to 70.8 g/t (2.065 oz/t) Au. Three (3) of the 7 selective rock grab samples from the Midway Mine pits yielded from 1,360 g/t Ag (39.7 oz/t Ag) up to 2,140 g/T Ag (62.4 oz/t Ag).

All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature. A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 oz/t Au) and 1,530 g/T Ag (44.6 oz/t Ag), illustrating that there is potential for additional high-grade mineralization in the area.

The Sappho area is being targeted for copper-gold-PGEs skarn and porphyry type targets associated with an alkalic intrusion and several diorite intrusions south of Greenwood near the US border. At least five new showings of copper oxide/sulphide mineralization were found during the 2022 program at the Sappho Target. Previous surface sampling and drilling by Grizzly at the Sappho area has yielded significant anomalous copper, gold, silver along with platinum and palladium.

Numerous rock grab samples have yielded greater than 1% copper, 1 g/t gold, 1 g/t platinum and 1 g/t palladium. Historical drilling (by the Company) has yielded up to 0.31% Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho in 2010.