EDMONTON, ALBERTA – September 22, 2020 -- Grizzly Discoveries Inc. (TSX-V: GZD; Frankfurt: G6H; OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce the addition of Mr. Chris Beltgens -B.Sc., MBA, to lead Corporate Development efforts as the Company prepares for near-term work programs across its gold-silver project area located in southeastern British Columbia.
Mr. Beltgens has over 15 years of investment, business development and corporate finance experience. Since April 2016, he has been the Vice President of Corporate Development for TAG Oil Ltd., a TSX Venture listed international oil and gas company with operations in Australia. Mr. Beltgens previously spent six years in London working in investment banking and providing advice on mandates which included initial public offerings, secondary financings and strategic advice at both the corporate and asset levels. He is currently the CFO and Corporate Secretary and a director of Seashore Resource Partners, an TSX Venture listed Capital Pool Company, and was recently the CFO and a Director of Cortus Metals Inc., a Venture listed mining company with assets in Nevada. Mr. Beltgens has completed the CFA program, received an MBA from the University of Toronto and a Bachelor of Science degree from the University of Victoria. The Board of Directors has authorized the issuance of 200,000 stock options, vesting immediately, exercisable at $0.065 and expiring no later than 5 years from the date of issuance under the Company’s Stock Option Plan to Mr. Beltgens. The issuance of options is subject to acceptance by the TSX Venture Exchange.
Grizzly has begun field work preparation in anticipation for a Phase 1, +2,000 metre drill program at its Ket 28 prospect. This includes sampling, mapping and drill-collar preparation. Initial work has provided favourable indications with new zones identified through the rock samples collected from rock outcrop and sub-crop (see Images #1 and 2). The samples have been sent to the laboratory for analysis. Grizzly is finalizing drill collar locations at Ket 28 and is undertaking consultation with local landowners, First Nations groups and government officials in relation to the Phase 1 drilling program. Drilling is anticipated start near the end of September.
Historic Drilling at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood Project, has intersected high grade gold with 52.19 grams per tonne (g/t) Au over 3.35 m core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 prospect following up the historic drilling in the mid 1990`s with up to 2.77 g/t Au over 11 m core length and 8.75 g/t Au over 3 m with a higher grade zone of 11.90 g/t Au over 2 m core length.
Brian Testo, CEO, commented, “We are excited to welcome Chris to the Grizzly team. Chris has considerable experience assisting companies in the resource sector to raise investor awareness and developing strategic partnerships. We are looking forward working with Chris through this pivotal period for Grizzly with the upcoming drilling at our exciting Ket 28 high grade gold prospect.”
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 86.5 million shares issued, focused on developing its over 156,000 acres 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.
Images #1 and 2 – Grizzly geologists sampling at Greenwood Property, British Columbia, Canada
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., 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.
Brian Testo, CEO, President
Tel: (780) 693-2242
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Tel: 604 282 6372
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.