Grizzly Discoveries Inc. announced the first assay results for rock samples collected from the newly acquired and staked mineral claims in the Westbridge area of the Greenwood District. These are some of the first results from work conducted in the Westbridge to Beaverdell target areas 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 51 rock grab samples were collected from outcrop and mineralized dump material across the Colby and Enterprise claims acquired in early 2023. Additional staking has been conducted to expand and firm up the land position in the area. Rock grab samples (40) from showings and mineralized dumps in the Colby area returned 13 samples with >1.0 gram per tonne (g/t) (0.029 ounces per ton [opt]) gold (Au) and 8 samples with >5.0 g/t (0.146 opt) Au up to 26.2 g/t (0.764 opt) Au including 12 grab samples with >30.0 g/t (0.875 opt) silver (Ag) up to 460 g/t (13.42 opt) Ag.

The high Au and Ag values are often accompanied by high lead and zinc in the 0.1 - 1% range. The high values are associated with gossanous pyritic material in quartz veins and breccia in what appears to be quartzite in contact with a diorite or felsic porphyry. A total of 11 selected rock grab samples from the Enterprise showing and historical workings yielded 3 grab samples with >1.0 g/t (0.029 opt) Au up to 32.0 g/t (0.933 opt) Au including 3 grab samples with >30.0 g/t (0.875 opt) Ag up to 187 g/t (5.45 opt) Ag.

Sulphide mineralization at the Colby and Enterprise historical workings is associated with quartz veins, breccia and skarnified/silicified sedimentary rocks and intrusions. The alteration patterns are consistent with intermediate sulphidation epithermal mineralization. As the Company awaits drilling permits from the BC Government, significant ground based prospecting and sampling programs have been executed at the newly staked Marshall Lake claims as well as at a number of other exploration target areas including Midway, Imperial, Sappho-West Lexington and Beaverdell areas.

A total of more than 800 rock samples and 3,800 soil samples have been collected during the 2023 field season. Results will be announced as they are received and interpreted over the coming weeks. Update on Drilling: Drilling will initially be focused at the historical Midway Mine but the intent is that eventually the Company will complete new drilling in 2024 at Midway, Imperial, Copper Mountain (Mable Jenny, Coronation and Prince of Wales targets), and potentially the Sappho areas, depending upon the timing of the receipt of drill permits, additional funding and weather permitting.

The permit applications were submitted initially in January-February of this year and the Company is now awaiting final comments and any required conditions or changes resulting from the recently completed 30 day notification periods. Archaeological and biological surveys are being conducted where required. Summary of 2023 Exploration at Greenwood: An extensive rock and soil sampling program along with new geological mapping during 2023 has been conducted in preparation for drilling.

The work has yielded two new showings identified near the historical Midway Mine including up 5.64 g/t (0.165 opt) Au from a showing 400 m to the north of the Midway Mine and a second showing along an apparent fault structure with 4.19 g/t (0.122 opt) Au from a grab sample collected about 375 m to the west of the Midway Mine. At least 6 new areas with anomalous gold (> 100 ppb Au), silver or copper in soils have been identified across the Midway Mine Property with the results from follow up exploration in progress. A summary of all the Midway results will be provided once all the results are received.

To date, gold-silver-base metal mineralization appears to be related to veins and stockworks at contacts between altered ultramafic-carbonate rocks (listwanites) in contact with diorite intrusions in a complex structural setting, with the intersections of structures playing a key role in the localization of alteration. At the historical Imperial Mine area, a total of 50 new rock grab and rock chip samples were collected from the Imperial showing area, with 6 samples returning greater than 1 g/t(0.029 opt) Au up to 12.1 g/t (0.353 opt) Au and 8 samples retuning greater than 40 g/t (1.167 opt) Ag up to 469 g/t (13.68 opt) Ag. The samples define a targeted north - south strike length of over 170 m for future drilling.

The samples show significant amounts of lead (Pb), zinc (Zn) and Cu with several samples yielding greater than 2% combined base metals. Geological mapping is in progress and ground geophysical surveys are planned prior to conducting drilling at this target. The Copper Mountain area continues to yield excellent results from a number of showings including the Coronation and Prince of Wales historical mines along with the Mabel Jenny area.

A total of 9 of 14 rock grab and chip samples collected this year from a new zone discovered late in 2022 has yielded greater than 1 g/t (0.039 opt) Au up to 13.75 g/t (0.40 opt) Au (along with up to 61.9 g/t (1.81 opt) Ag) and up to 0.475% Cu and 2.93% Zn. The discovery was made along a new logging road cut late in 2022 and appears to demonstrate quartz vein stockwork mineralization in an altered diorite over a strike length of more than 400 m when combined with anomalous samples from 2022. Geological and prospecting crews have concluded prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and have conducted an initial pass at the new mineral claim area staked August 1, 2023.

A number of existing showings and parts or extensions to known showings have been acquired with the staking of the new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine. Results from the initial sampling programs on these new claims will be released as they are received.