Grizzly Terminates Private Placement

Edmonton, Alberta--(Newsfile Corp. - February 1, 2022) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") announces that it has terminated the private placement initially announced on October 6, 2021 (the "Offering") and under which gross proceeds of $155,000 were raised on December 30, 2021 by the issuance of 2,500,000 FT Units and 600,000 Units (see Grizzly news release dated December 30, 2021). The Company intends to use the proceeds from the Units for general working capital, and the proceeds from the Units and FT Units on exploration of its Greenwood and Robocop mineral projects in British Columbia. The Offering was accepted by the TSX Venture Exchange on January 28, 2022.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 66,000 ha of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Chris Beltgens
Corporate Development
Tel: 604 282 6372
Email: cbeltgens@grizzlydiscoveries.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112382