Mr. Brian Testo reports

GRIZZLY ANNOUNCES GREENWOOD, BC MOBILIZATION AND EXPLORATION PLANS

Kinross Gold Corp.'s wholly owned subsidiary, KG Exploration (Canada) Inc., has informed Grizzly Discoveries Inc. that a drill will be mobilized to the Midway target within the Greenwood project, located near Greenwood in Southern British Columbia. Kinross is planning a 1,200-metre drill program at the Midway area during July and August, 2018, to continue the proof-of-concept drilling at the Midway epithermal target intersected in 2017. Proof-of-concept drilling in 2017 intersected silicification, alteration, anomalous geochemistry and minor quartz veining in two out of three holes along strike, warranting further follow-up exploration.

Highlights of 2017 Kinross exploration program at Midway

The portions of the Greenwood project being explored by Kinross, 100 per cent owned by Grizzly Discoveries, includes 131 claims that form a contiguous package totalling approximately 27,346 hectares, representing approximately one-third of Grizzly's landholdings at Greenwood. Kinross can earn a 75-per-cent interest on the optioned land pursuant to an option agreement dated September, 2015, by incurring $3-million (U.S.) in exploration expenditures over a five-year period. On Sept. 23, 2017, Kinross met the second-anniversary drill metre and cost commitments as set out in the original option agreement.

The Midway target is hypothesized to be an Eocene-aged system developed within Triassic clastic sediments and limestone and Jurassic (possibly) hornblende diorite intrusions, all unconformably overlain by Eocene Kettle River formation sediments and Marron volcanics.

A thick blanket of massive silica occurs at the basal Eocene unconformity, with remnant outcrops dispersed intermittently over a one-kilometre-by-one-kilometre area, in some places replacing Triassic limestone. The massive silica contains anomalous trace element geochemistry, with common disseminated marcasite and uncommon centimetre-scale banded marcasite clasts.

Widespread alteration and local silicification occur in the footwall of the unconformity. Two separate zones have been discovered: zone 1 is a 200-metre-long-by-50-to-75-metre-wide zone of silicification, with peripheral alteration and multiple narrow (up to 0.5 metre) chalcedonic quartz (plus or minus quartz breccia) veins . A second similar zone of alteration and veining is located 200 metres to zone 1. The target areas were further delineated through a large soil anomaly over the exposed target area.

Rock-chip and drill hole results indicate predominately argillic and lesser propylitic alteration. Kaolinite dominates the argillic suite. The strongest zone of alteration is centred on a silicified fault near the irregular clastic/intrusive contact. Multiple narrow (to 0.5 metre) chalcedonic quartz (plus or minus quartz breccia) veins occur within the broader zone of silicification. Values of up to 4.2 parts per million gold have been recovered from these veins.

Grizzly has submitted three notice-of-work programs to the British Columbia Ministry of Energy, Mines and Petroleum Resources. The planned programs cover planned exploration, including planned drilling, at the Ket 28/Dayton and Motherlode target areas in the Greenwood project area on lands not under option to Kinross. The third notice-of-work program will cover potential cobalt-copper-silver drill targets at the company's 100-per-cent-owned Robocop project to be tested this fall after completion of an airborne survey and surface exploration activities planned during August and September, 2018.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company focused on developing its precious metal and base metal properties in southeastern British Columbia, along with significant potash assets in Alberta.

The content of this news release and the company's technical disclosure has been reviewed and approved by Michael B. Dufresne, MSc, PGeol, who is the qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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