Canadian Exploration Company Focused on Developing Exploration Assets in British Columbia

EDMONTON, ALBERTA – June 10, 2014 --Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that it has acquired additional permits (the “New Permits”) for its Alberta Diamonds Project by staking 34,496 hectares (85,241 acres) of highly prospective lands for diamond-bearing kimberlites in the Buffalo Head Hills area of North-central Alberta. These additional claims add to the 57,529 hectares (142,157 acres) already held by the Company’s Alberta Diamond Project in the Buffalo Head Hills area. The Company’s Alberta Diamond Project hosts at least 7 kimberlites, to date 3 of which have been identified with microdiamonds.

Subsequent to staking the New Permits, the Company’s Alberta Diamond Project now covers 92,025 hectares (227,399 acres) of the Buffalo Head Hills kimberlite field, for which Grizzly has the exclusive rights to explore for metallic and industrial minerals. The Alberta Diamond Project permits are in good standing until dates ranging from late 2014 to 2027, subject to biannual assessment work. Grizzly has conducted exploration in the Buffalo Head Hills kimberlite field since 1997 completing numerous geophysical and heavy-mineral indicator surveys, and discovering three new diamondiferous kimberlite bodies in 2008 and 2009, bringing the total number of kimberlites within Grizzly’s Buffalo Head Hills kimberlite field-hosted Alberta Diamond Project to seven.

Grizzly’s Alberta Diamond Project lies within the Buffalo Head Hills kimberlite field, which is located approximately 35 to 45 kilometers northwest of the Hamlet of Red Earth Creek, Alberta, and approximately 330 kilometers northwest of Edmonton, Alberta. 41 kimberlites have been discovered by various parties in the Buffalo Head Hills kimberlite field, an area of approximately 2,500 square kilometres representing the third largest known district of significant diamond-bearing kimberlites in Canada after Lac de Gras, Northwest Territories and Fort à la Corne, Saskatchewan. The diamondiferous Buffalo Head Hills kimberlite field has generated exploration interest due to the relatively large kimberlite dimensions (up to 45 hectares), encouraging diamond contents (up to 55 carats per hundred tonnes with the presence of some colored diamonds), and high ratio of diamondiferous to barren kimberlite (28 of 41 kimberlites tested contain diamonds).  The Buffalo Head Hills Joint Venture (unrelated to the Company), comprised of Canterra Minerals Corporation (33%), Shore Gold Inc. (33%) and Encana Corporation (34%) currently hold five kimberlite bodies in the field which have undergone mini–bulk and bulk sampling (between 22 and 616 tonnes): kimberlites K6, K11, K14, K91 and K252.

The potential for discovery of additional diamondiferous kimberlites within Grizzly’s Buffalo Head Hills properties is considered high based upon the favourable regional geological setting and the positive results of exploration conducted to date by Grizzly. Grizzly’s geological consultants, APEX Geoscience Ltd. of Edmonton, Alberta, have recommended that, subject to financing, Grizzly proceed with exploration on two fronts. First, bulk sample the BE-2 and BE-3 kimberlites discovered by the Company in 2008, which returned close to 1 microdiamond per kilogram during the 2008 drilling campaign. Second, proceed to drill test the numerous high priority targets that Grizzly has identified in the region in order to continue the search for new diamondiferous kimberlites. Particularly, Grizzly will focus on kimberlites with a weak magnetic signature, which have tended to yield better diamond counts in the Buffalo Head Hills kimberlite field.

Based on these recommendations, Grizzly has staked its new lands in the vicinity of the Buffalo Head Hills Joint Venture’s K6, K11, K14, K91 and K252 kimberlites and plans to conduct new detailed ground geophysical surveys, combined with the acquisition of detailed lidar and airborne orthophoto data, in the search for new kimberlites in the vicinity of what are considered to be the best kimberlites yet discovered in the Buffalo Head Hills kimberlite field.

The Company has not conducted significant exploration work on its Alberta Diamond Project since the kimberlite discoveries in 2008, however has maintained in good standing the permits covering the discovered kimberlites and identified targets deemed to be of the highest prospectivity. In addition to the encouraging exploration results obtained by the Company and by other unrelated parties which have conducted exploration in the area, the Buffalo Head Hills region contains infrastructure, utilities, skilled labour, roads and access that would potentially be required to economically develop a diamond mine.

Grizzly is evaluating strategies for the renewal exploration at its Alberta Diamond Project, which was the Company’s initial project during its initial public offering in 2004 (under the name Grizzly Diamonds Ltd.). This has been prompted by the renewed interest in diamond exploration by a number of companies across Canada, indicating a resurgence in market sentiment towards diamond exploration. The Company will consider both undertaking its own drill program, as well as pursuing the possibilities of joint ventures on its Buffalo Head Hills properties. Grizzly is actively seeking equity funding and/or joint venture partners to invest in further diamond exploration at its Alberta Diamond Project in the Buffalo Head Hills area.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 200,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

The content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., 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.

/s/ “Brian Testo”

Brian Testo

President

(780) 693-2242

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

Nancy Massicotte

IR PRO COMMUNICATIONS INC.

Tel: 604-507-3377

Toll Free: 1-866-503-3377

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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" within 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 forward-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, estimates, 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, including 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.

GRIZZLY SHAREHOLDERS ELECT NEW DIRECTOR AND PROVIDES UPDATE ON MEMORANDUM OF UNDERSTANDING

EDMONTON, ALBERTA – June 3, 2014 --Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that shareholders of the Company have elected Mr. Ray Wytinck of Manitoba as a Director of the Company at its annual general and special meeting of shareholders held on June 2, 2014. Joining re-elected incumbent Directors Messrs. Brian Testo, Doug Turnbull, Sam Pillersdorf, and Fraser Atkinson, Mr. Wytinck brings expertise related to the agriculture support industry in Canada. Mr. Ben Hubert, originally appointed as a Director of the Company in December of 2009, chose not to stand for re-election as a Director. Management and the Board of Directors thank Mr. Hubert for his contributions to the Company since 2009 and have asked Mr. Hubert to remain available as an advisor to the Board.

Mr. Wytinck holds a Master’s of Science degree from the University of Manitoba and has been active in the Agri-business sector for over 25 years. Mr. Wytinck has been involved in various capacities in the Agri-business sector, primarily related to merchandising of seed and fertilizer products through wholesale and retail channels. Mr. Wytinck brings practical insight into the fertilizer business, and has expressed enthusiasm towards advancing the Company’s Alberta Potash Project.

“We want to thank Ben Hubert for his contributions to the development of Grizzly over the past four plus years. We have seen ourselves through what we believe to be the worst of the low cycle in the junior mining industry, and have relied on the Board’s business experience in getting us through” said Brian Testo, President and Chief Executive Officer of Grizzly. “We are eagerly preparing for resuming Grizzly’s exploration activities on its various projects, including actively seeking equity funding and joint venture partners, and Ray brings a new set of skills and industry contacts which we believe will open new doors for financing and, potentially, eventual development of our Alberta Potash Project. I, along with the rest of Grizzly, am looking forward to working with Ray now that he has been elected to the Board.”

In conjunction with the election of Ray Wytinck to the Company’s Board of Directors, the Company announces that it has granted stock options to acquire up to 200,000 common shares of the Company at an exercise price of $0.10 per common share, pursuant to the Company’s stock option plan. The options issued to Mr. Wytinck shall expire five years from the date of grant, or earlier in accordance with the stock option plan. Mr. Wytinck’s election to the Board and grant of options, as well as the terms of the options granted, are subject to the approval of the TSX Venture Exchange.

UPDATE ON MEMORANDUM OF UNDERSTANDING ANNOUNCED ON MARCH 11

On March 11, 2014, the Company announced that it had entered into a memorandum of understanding (“MOU”) with an unrelated third party (the “Interested Party”) as an initial step towards a proposed $15 Million investment by the Interested Party to advance the Company’s Alberta Potash Project. (See the Company’s news release dated March 11, 2014.) Subsequent to entering the MOU, the Company provided, under a confidentiality agreement, all data and information that it has pertaining to the project.

The Interested Party has not yet indicated its intentions with regard to negotiating a final agreement as contemplated by the MOU, but have advised that they continue to evaluate the project. The Company remains optimistic that the Interested Party will recognize the merits of the Alberta Potash Project. “We believe that the Alberta Potash Project, while still early stage and somewhat unproven, has enormous potential for a sizeable and economic extractable potash deposit,” said Brian Testo, “and our potential investors are being diligent and cautious in their assessment of the project, as they should be. While we trust that they will recognize the same potential for the project as we do, we are going to ensure that the Company has alternative means of advancing the Alberta Potash Project in the case that they decide not to continue. The addition of Ray Wytinck to the Board will give the Company direct access to the marketers and consumers of the final product of potash production, which may lead to new and innovative opportunities to advance our Alberta Potash Project.”

The Company will provide updates on the status of the MOU and negotiations with the Interested Party.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 200,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

 

On behalf of the Board

Grizzly Discoveries Inc.

/s/ “Brian Testo”

Brian Testo

President

(780) 693-2242

 

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

Nancy Massicotte

IR PRO COMMUNICATIONS INC.

Tel: 604-507-3377

Toll Free: 1-866-503-3377

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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" within 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 forward-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, estimates, 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, including 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.

EDMONTON, ALBERTA – March 11, 2014 --Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that it has entered into a memorandum of understanding (“MOU”) with an unrelated third party (“Interested Party”) as an initial step towards a proposed $15 Million investment by the Interested Party to advance the Company’s Alberta Potash Project (“APP”).

 

Under the terms of the MOU, the Company and the Interested Party entered into a confidentiality agreement pursuant to which Grizzly shall provide the Interested Party with all data and information that it has pertaining to the APP, with particular focus on the North Block near Lloydminster, Alberta. The MOU contemplates that, subject to the Interested Party’s satisfactory due diligence on the APP data, the Company and the Interested Party would pursue negotiations leading to a final agreement (“Investment Agreement”) whereby the Interested Party would invest up to $15 Million in cash to fund an exploration drill program to test the APP’s North Block. The contemplated $15 Million investment by the Interested Party would, subject to the terms of the Investment Agreement, result in the Interested Party having a direct interest in the Alberta Potash Project. In addition, the MOU contemplates that upon having invested the $15 Million into an exploration program on the APP, the direct interest in the property could be convertible to an equivalent equity interest in a publically traded corporation which owns the APP assets.

 

Brian Testo, Grizzly’s President and CEO, stated “As we have been disclosing in our filings and prior releases, Grizzly is very actively seeking a partner to advance our Alberta Potash Project. While this MOU is just an initial step towards an actual cash investment, we are optimistic that the fundamentals of the Alberta Potash Project are sound and that our prospective partners will recognize the merit and massive potential upside for the discovery of a significant potash resource in Alberta’s favourable resource tax and royalty regime.”

 

The terms and conditions of the potential Investment Agreement have not yet been negotiated, and there is no surety that the Investment Agreement will be successfully concluded. However, provided negotiated terms and conditions of the Investment Agreement are agreed to by both parties, final approval will be subject to ratification by the Company’s and the Interested Party’s respective Boards of Directors and applicable regulatory authorities.

 

ABOUT THE ALBERTA POTASH PROJECT

 

The Company’s Alberta Potash Project consists of metallic and industrial mineral permits covering approximately 900,000 acres in Alberta along the Saskatchewan border. The property is divided into the North and South Blocks near Medicine Hat, Alberta and Lloydminster, Alberta respectively.

 

The Company drilled one test well on the South Block (“South Block Well”) in late 2011. Coring commenced at 1,642 metres (“m”) below surface, and visible potash minerals were observed in the drill core for the interval between 1,648 m and 1,670 m below surface. The well cored a thick (22.35 m) zone of Prairie Evaporite Formation salt with low grade potash at a depth of 1,648 m, the approximate depth of the Belle Plain Solution Mine in Saskatchewan. Within the low grade potash zone, the drilling intersected two zones of sylvite mineralization (Upper zone and Lower zone) within the Patience Lake Member, near the top of the Prairie Evaporite Formation. Analytical results from the South Block Well yielded weighted average grades of 2.62% K2O (4.15% KCl) over 22.35 m at a depth of 1,648.5 m for the low grade zone. The interval contained higher grade portions including 6.4% K2O (10.14% KCl) over 4.55 m, 8.77% K2O (13.88% KCl) over 2.65 m and 13.0% K2O (20.58% KCl) over 1.15 m within the Upper zone and 2.45% K2O (3.88% KCl) over 3.3 m in the Lower zone.

 

The Company has not yet drill tested the North Block of the APP, however the Company has intentions to test an area in close proximity to a reported occurrence of potash minerals in historic well VCO #15 in the Vermilion area on the North Block. The author reporting the occurrence suggested that the potash mineral “sylvite exists in substantial quantities” “throughout the first 50 feet of the Prairie Evaporite” (Golden, B.Sc., 1965). The author also suggested the potash minerals “are of the same composition and depositional sequence and depth as the potash at Unity and Saskatoon, Saskatchewan”, currently the location of a number of potash mines. Analytical work by the Alberta Geological Survey (Eccles et al., 2009) on what is left of the core from VCO #15 has yielded up to 18.6% K2O utilizing a hand held XRF instrument and confirms the observations of Golden (1965). The reported occurrence of potash minerals is at a depth of approximately 1,061 m below surface.

 

For more information about the Alberta Potash Project, and the results of the Company’s work on the property to date, please see the Technical Report on the Potash Potential of Grizzly Discoveries Inc.’s Alberta Potash Project dated June 30, 2012 (filed August 28, 2013) available on SEDAR.

 

About Grizzly Discoveries Inc.

 

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 200,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

 

The content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., 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.

/s/ “Brian Testo”

Brian Testo

President

(780) 693-2242(780) 693-2242

 

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

 

Nancy Massicotte

IR PRO COMMUNICATIONS INC.

Tel: 604-507-3377604-507-3377

Toll Free: 1-866-503-33771-866-503-3377

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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" within 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 forward-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, estimates, 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, including 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.

EDMONTON, ALBERTA – February 20, 2014 --Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to provide a second update in advance of the Prospectors & Developers Association of Canada convention at the Metro Toronto Convention Centre on March 2-5, 2014, at which Grizzly will be exhibiting at Booth #3020.

 

In addition to the potash-prospective Alberta Potash Project in Eastern Alberta and the diamondiferous-kimberlite hosting Alberta Diamond Project in North-central Alberta, Grizzly Discoveries’ extensive and diverse portfolio of properties includes the historically productive Greenwood Property in Southeastern British Columbia. Grizzly’s properties collectively cover an aggregate of over 700,000 hectares (“ha”), which are mostly underexplored. In order to ensure that future exploration programs yield favourable results leading toward near-term resource definition and development, the Company is continuing to conduct a strategic review of all of the geological information that it has available on its Greenwood Property, including historical information preceding the acquisition by Grizzly, as well as the Company’s results from its exploration programs.

The strategic review revealed the potential for a copper porphyry deposit at the Dayton Prospect based upon a reinterpretation of the geology and a determination of copper-equivalency* (“CuEq”) values by incorporating coincident gold and silver values with the copper intersected in the Company’s drillholes at the Prospect (see the Company’s news release dated February 13, 2014). This reinterpretation of core assay results from the Dayton prospect showed values greater than 0.12% CuEq over core lengths between 50 to 135 metres (“m”), with a number of shorter intervals in several of the drillholes yielding up to and greater than 0.40% CuEq.

The Company has now reinterpreted 2010 drill results from the Sappho prospect by incorporating coincident gold, silver, and platinum group elements (“PGE”) with copper intersected in our drillholes. This reinterpretation has returned results which are favourable to a copper porphyry deposit model at the Sappho prospect, with assay results yielding a wide anomalous interval of 0.28% CuEq over 93.5 m core length including a higher grade zone of 0.38 % CuEq over 63.5 m core length.

GREENWOOD PROPERTY Strategic review – SAPPHO PROSPECT

In light of copper porphyry discoveries that have been made in northwest British Columbia within the last six months, Grizzly is conducting a strategic review of its mineral claim holdings in the Greenwood Property in south-central British Columbia. Based upon the recent NI 43-101 technical report (the “Technical Report”) completed for the Company by APEX Geoscience Ltd. dated September 1, 2013 and filed on SEDAR, portions of Grizzly’s Greenwood Property are considered highly prospective for the presence of copper porphyries similar to those which have recently been discovered in northwestern and central British Columbia.

The strategic review has identified a number of prospects that have geological characteristics and in some cases mineralization that is indicative of copper porphyry style mineralization.

The Sappho prospect, on which the Company conducted extensive exploration in 2009 and 2010, has yielded strong evidence of copper-gold-silver-platinum-palladium (“Cu-Au-Ag-PGE”) alkalic porphyry mineralization.   Exploration at the Sappho zone has resulted in numerous high grade samples from the historic workings. However, the nature of its origin and the surrounding geology is not fully understood. The remaining area of the Sappho claim block is relatively underexplored compared to the extensive work at the main showings.

Three well documented surface copper occurrences in the northeastern portion of the complex yielded numerous high grade selective grab sample results including up to 8.28% copper (“Cu”) 298 grams per tonne (“g/t”) silver (“Ag”), 2.2 g/t gold (“Au”), 27.1 g/t Platinum (“Pt”) and 2.57 g/t palladium (“Pd”). All three occurrences yielded multi gram Pt and Pd values. The Sappho prospect is unusual relative to most British Columbia platinum group elements-bearing alkaline intrusive complexes, in that it contains Pt concentrations greater than Pd and Au. As reported in the Technical Report, government geologists have conducted extensive geochemical and mineralogical work on the Sappho alkaline complex and associated Cu-Ag-PGE-Au mineralization and, based upon textural and geochemical evidence, suggest that the mineralization is late magmatic or magmatic-hydrothermal in origin and bares mineralogical traits most common in alkaline porphyry style associated metals.

 

A drill program conducted by the Company in 2010 targeted two showings at the Sappho prospect, the Main and Northern showings, with a drillhole beneath each showing and two additional drillholes testing two proximal blind magnetic features with no previously known mineralization. The two holes beneath the Sappho Main and Sappho North showings intersected weak but anomalous Cu-Ag-PGE-Au. The best intersection was provided by drillhole 10SP03, which targeted a blind magnetic anomaly close to the Bodie Mountain fault and yielded a wide anomalous interval of 0.28% CuEq over 93.5 m core length including a higher grade zone of 0.38 % CuEq over 63.5 m core length that is comprised of 0.12% Cu, 8.68 g/t Ag, 0.22 g/t Au, 0.10 g/t Pd and 0.07 g/t Pt. This wide anomalous interval contains two higher grade intervals, an upper and lower zone, which yielded 1.43% CuEq over 7 m and 1.04% CuEq over 6.5 m core length, respectively. The mineralization in drillhole 10SP03 is hosted in a wide and intensely hornfelsed to skarnified pyroxenite that is brecciated and silicified in places. Hornfels alteration consists of biotite-garnet-magnetite and is associated with abundant pyrite and chalcopyrite. Further drilling will be required to follow up on the results of 10SP03.

 

GREENWOOD PROPERTY – GEOLOGICAL BACKGROUND

The Company’s Greenwood Property is situated within Quesnelia Terrane, host to the vast majority of British Columbia’s major known copper porphyry deposits from Princeton and Kamloops up to Dease Lake. Airborne surveys conducted by the Company in 2008 and 2009 over three quarters of the Greenwood Property identified numerous moderate to small intrusive bodies which are spatially associated with vast areas of extensive hornfels, some of which is associated with past producing copper-silver-gold skarn mineralization, as in the historic Phoenix and Motherlode areas within the Greenwood Property. The Greenwood area is underlain by numerous deep seated structures with at least three known large scale grabens with intrusions and extensive alteration spatially associated the graben structures. The grabens are young and have preserved Tertiary sediments and volcanics along with underlying older Paleozoic to Triassic rocks within the boundaries of the grabens, likely preserving any potential intrusion-related copper mineralization.

 

FUTURE PLANS

The Company has previously identified seven distinct areas of polymetallic mineralization within its 90,000 ha Greenwood Property. In addition to undertaking further planned drilling on the Ket 28 target and Dayton and Sappho prospects, the Company will be seeking option and joint venture opportunities for development of the other prospect areas. The mineral claims underlying the Greenwood project are in good standing for at least four years without further expenditures, with 40% of the claims being in good standing until 2023, including all of the high priority targets. The Company is also concurrently marketing internationally its Alberta Potash Project, seeking a joint venture partner to fund the next stage of drilling on its northern block, where historic drilling yielded 18.6%K2O (or over 28% KCl potash).

 

Any proposed exploration programs to be conducted on the Company’s properties are subject to financing.

 

*    Copper equivalency (“CuEq”) values disclosed in this news release have been calculated utilizing values of $1,250 per ounce for gold, $20 per ounce for silver and $3.25 per pound for copper.

 

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 600,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

The content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., 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.

/s/ “Brian Testo”

Brian Testo

President

(780) 693-2242

 

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

 

Nancy Massicotte

IR PRO COMMUNICATIONS INC.

Tel: 604-507-3377

Toll Free: 1-866-503-3377

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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" within 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 forward-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, estimates, 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, including 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.

EDMONTON, ALBERTA – February 13, 2014 --Grizzly Discoveries Inc. (TSX-V: GZD; OTCQX: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to provide an update in advance of the Prospectors & Developers Association of Canada convention at the Metro Toronto Convention Centre on March 2-5, 2014, at which Grizzly will be exhibiting.

 

Grizzly Discoveries’ extensive and diverse portfolio of properties, including the potash-prospective Alberta Potash Project in Eastern Alberta, the diamondiferous-kimberlite hosting Alberta Diamond Project in North-central Alberta and the historically productive Greenwood Property in Southeastern British Columbia, cover an aggregate of over 700,000 hectares (“ha”), and is mostly underexplored. The Company is conducting a strategic review of all of the geological information that it has available on its properties, including historical information preceding their acquisition by Grizzly, as well as the Company’s results from its exploration programs, to ensure that future exploration programs yield favourable results with near-term resource definition and development.

 

In particular, the Company has been focussed on target selection at its approximately 90,000 ha Greenwood Property, with a goal of discovering deposits with near-term resource-definition potential. In addition to the selection of the Ket 28 as a high priority high grade gold target, as previously announced (see the Company’s news releases dated October 10, 2013 and November 26, 2013), the Company has re-evaluated results from exploration conducted in 2009 through 2011 at the Greenwood Property’s Dayton prospect. The Company has concluded, based upon a reinterpretation of the geology and a determination of copper-equivalency* (“CuEq”) values by incorporating coincident gold and silver values with the copper intersected in previous drill holes, that the Dayton prospect is a high priority copper-gold porphyry target. Drilling conducted at the Dayton Prospect in 2010 and 2011 indicated values greater than 0.12% CuEq over core lengths between 50 to 135 metres (“m”), with a number of shorter intervals in several of the drill holes yielding up to and greater than 0.40% CuEq.

 

Brian Testo, Grizzly’s President and Chief Executive Officer, commented that “this re-examination of the Company’s previous results has shed a new light on the Dayton prospect, and we at Grizzly are very optimistic that future drilling there will continue to yield favourable results and may lead to a significant discovery.”

 

GREENWOOD PROPERTY Strategic review

In light of copper porphyry discoveries that have been made in northwest British Columbia within the last six months, Grizzly is conducting a strategic review of its mineral claim holdings in the Greenwood Property in south-central British Columbia. Based upon the recent NI 43-101 technical report completed for the Company by APEX Geoscience Ltd. dated September 1, 2013 and filed on SEDAR, portions of Grizzly’s Greenwood Property are considered highly prospective for the presence of copper porphyries similar to those which have recently been discovered in northwestern and central British Columbia.

 

The strategic review has identified a number of prospects that have geological characteristics and, in some cases, mineralization that is indicative of copper porphyry style mineralization. The Dayton prospect, on which exploration was conducted by the Company between 2009 and 2011, included drilling which yielded strong evidence of copper-gold porphyry style mineralization.

 

A total of 1,021 soil samples indicated a strong northwest-trending copper-gold anomaly approximately 450 m by 200 m with more than 100 of the samples containing from 100 parts per million (“ppm”) copper (“Cu”) up to 1,225 ppm Cu, along with 40 samples containing greater than 50 parts per billion gold (“Au”). Surface mapping in the area identified a number of occurrences of pyrite and chalcopyrite, locally associated with high copper and gold grades, in association with strongly hornfelsed volcanics, sediments and alkaline intrusions, along with local skarn. An Induced Polarization (“IP”) survey identified a number of high quality positive IP chargeability anomalies, one of which is associated with the soil anomaly.

 

A drilling program conducted in 2010 intersected up to 0.03% Cu and 0.18 g/t Au, or 0.12% CuEq, over 96 m of core length, including a higher grade zone of 0.35% CuEq over 8.1 m. In subsequent drilling conducted in 2011, a second eastern IP anomaly with a weak associated copper-gold soil anomaly was drill tested and yielded 0.19% CuEq over 117 m of core length, with a high grade zone of 0.39% CuEq (0.15% Cu, 0.43 g/t Au and 0.81 g/t Ag) over 51 m near the top of the hole. These drill holes intersected the copper-gold-silver mineralization in large alteration and breccia zones with grades that compare favourably to the recently reported grades for the newly discovered copper porphyries in northwest British Columbia.

 

GREENWOOD PROPERTY – GEOLOGICAL BACKGROUND

The Company’s Greenwood Property is situated within Quesnelia Terrane, host to the vast majority of British Columbia’s major known copper porphyry deposits from Princeton and Kamloops up to Dease Lake. Airborne surveys conducted by the Company in 2008 and 2009 over three quarters of the Greenwood Property identified numerous moderate to small intrusive bodies which are spatially associated with vast areas of extensive hornfels, some of which is associated with past producing copper-silver-gold skarn mineralization, as in the historic Phoenix and Motherlode areas within the Greenwood Property. The Greenwood area is underlain by numerous deep seated structures with at least three known large scale grabens with intrusions and extensive alteration spatially associated the graben structures. The grabens are young and have preserved Tertiary sediments and volcanics along with underlying older Paleozoic to Triassic rocks within the boundaries of the grabens, likely preserving any potential intrusion-related copper mineralization.

 

FUTURE PLANS

The Company has previously identified seven distinct areas of polymetallic mineralization within its 90,000 ha Greenwood Property. In addition to undertaking further planned drilling on the Ket 28 target and Dayton prospect, the Company will be seeking option and joint venture opportunities for development of the other prospect areas. The Company is also concurrently marketing internationally its Alberta Potash Project, seeking a joint venture partner to fund the next stage of drilling on its northern block, where historic drilling yielded 18.6%K2O (or over 28% KCl potash).

 

Any proposed exploration programs to be conducted on the Company’s properties are subject to financing.

 

*    Copper equivalency (“CuEq”) values disclosed in this news release have been calculated utilizing values of $1,250 per ounce for gold, $20 per ounce for silver and $3.25 per pound for copper.

 

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 600,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

 

The content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., 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.

/s/ “Brian Testo”

Brian Testo

President

(780) 693-2242

 

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

Nancy Massicotte

IR PRO COMMUNICATIONS INC.

Tel: 604-507-3377

Toll Free: 1-866-503-3377

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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" within 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 forward-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, estimates, 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, including 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.