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Grizzly Discoveries Inc
Symbol GZD
Shares Issued 55,529,405
Close 2017-10-03 C$ 0.045
Market Cap C$ 2,498,823
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Grizzly partner completes 2017 work program at Grizzly

2017-10-03 07:58 ET - News Release

Mr. Brian Testo reports

KINROSS' KG EXPLORATION COMPLETES 2017 EXPLORATION AND DRILLING ON 75% OPTION FROM GRIZZLY

Grizzly Discoveries Inc. has been advised by Kinross Gold Corp.'s wholly owned subsidiary, KG Exploration (Canada) Inc., that it has completed its 2017 work program on the Grizzly Greenwood property, located near Greenwood in Southern British Columbia.

The portions of Grizzly's Greenwood project being explored by Kinross are 100 per cent owned by Grizzly Discoveries and include 131 claims that form a contiguous package totalling approximately 27,346 hectares, representing approximately one-third of Grizzly's landholdings at Greenwood. Under the terms of a September, 2015, agreement, KG Exploration (Canada) Inc. can earn a 75-per-cent interest on the optioned land pursuant to an option agreement with Grizzly on portions of its landholdings in southeastern British Columbia, by incurring $3-million (U.S.) in exploration expenditures over a five-year period. By the second anniversary of the agreement, 750 metres of diamond drilling must have been completed along with $750,000 (U.S.) in expenditures by Sept. 23, 2017.

Kinross reports completed 2017 work program highlights

  • 1,129 metres of diamond drilling at Mt. Attwood-Overlander and Midway areas;
  • Generative work of mapping and sampling of high-priority targets;
  • Cumulative expenditure total $761,520 (U.S.).

Kinross expects to complete an assessment report for the Greenwood property by early 2018. By the completion of the aforementioned work program and drilling, Kinross has met its second anniversary obligations pursuant to the Sept. 23, 2015, Greenwood option agreement.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 55.4 million shares issued, focused on developing significant potash assets in Alberta and its precious metals properties in southeastern British Columbia. The company holds over 227,000 acres of precious base metal properties in British Columbia; more than 161,000 acres of properties which host diamondiferous kimberlites in the Buffalo Head Hills region of Alberta; and metallic and industrial mineral permits for potash totalling more than 40,000 acres along the Alberta-Saskatchewan border.

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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