Mr. Brian Testo reports

GREENWOOD PROPERTY 2018 WORK PROGRAM

Kinross Gold Corp.'s wholly owned subsidiary, KG Exploration (Canada) Inc., has provided Grizzly with the proposed 2018 work program on Grizzly's Greenwood property, located near Greenwood in Southern British Columbia. Kinross is planning a 1,200-metre drill program at the Midway target in summer 2018. The program is a continuation of the 2017 proof-of-concept drilling, which intersected silicification, alteration, anomalous geochemistry and minor quartz veining in two out of three holes along strike, warranting follow-up exploration.

The portion of Grizzly's 100-per-cent-owned Greenwood project being explored by Kinross consists of 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, option agreement, KG Exploration (Canada) can earn a 75-per-cent interest on this portion of Grizzly's landholdings by incurring $3-million (U.S.) in exploration expenditures, including a minimum of 3,000 metres of diamond drilling by the fifth anniversary of the option agreement (Sept. 23, 2020). Kinross has met the second-anniversary requirements and has incurred over $750,000 (U.S.) in expenditures, including 1,129 metres of diamond drilling.

Highlights of 2017 Kinross exploration program at Midway

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 by 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.

Kinross planned activities for Evening Star and generative exploration

Additional field exploration and generative work is planned throughout the Greenwood property in 2018 to identify exploration targets for testing.

Evening Star is a geochemically anomalous basin that forms the headwaters of Skeff Creek (a known placer gold creek) and is located immediately north and adjacent to the Attwood drusy quartz veins (drill tested by Kinross in 2017). Glacial dispersion may contribute to the geochemical footprint; however, exploration will continue until the source is identified. Work in 2017 involved detailed geologic mapping of over 900 outcrops as well as rock-chip sampling of specific alteration and mineralization styles. The mapping provided geologic context to the soil anomalies at Evening Star, which will be evaluated further in 2018.

Grizzly 2018 proposed work programs

Grizzly has submitted three notices of work programs (NOWs) to the British Columbia government. The planned programs cover planned exploration, including drilling at the Ket 28, Motherlode and Dayton target areas, all of which lie outside of the option agreement with Kinross. The company will provide updates as financing and acceptance of these NOWs progress.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company focused on developing significant potash assets in Alberta and its precious metal properties in southeastern British Columbia. The company holds over 180,000 acres of precious metal and base metal properties in British Columbia; more than 160,000 acres of properties that host diamondiferous kimberlites in the Buffalo Head Hills region of Alberta; and metallic and industrial mineral permits for potash totalling more than 60,000 acres along the Alberta-Saskatchewan border.

The content of this news release and the company's technical disclosure have 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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