Mr. Brian Testo reports

GRIZZLY ANNOUNCES KINROSS MOBILIZATION, PRIVATE PLACEMENT, 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, 2018, 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 gold, silicification, argillic alteration and minor quartz veining in two out of three holes along strike, warranting further follow-up exploration, particularly to the east and down dip at the epithermal target.

Grizzly is also pleased to announce that it has closed on a private placement for gross proceeds of $55,000.

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, include 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. By the second anniversary on Sept. 23, 2017, Kinross had completed 1,129 metres of diamond drilling and had incurred $750,000 (U.S.) in expenditures.

Kinross geologists hypothesize that the Midway epithermal target is an Eocene-aged epithermal system developed within Triassic clastic sediments and limestone, and Jurassic hornblende diorite intrusions, all unconformably overlain by Eocene Kettle River formation sediments and Marron volcanics.

A three plus/minus m thick blanket of massive silica (locally banded, brecciated and vuggy) occurs at the basal Eocene unconformity. Remnants of this silica blanket occur in outcrop, intermittently over a one-kilometre-by-one-kilometre area, in some places replacing Triassic limestone. The massive silica contains elevated gold (to 1.175 parts per million) as well as locally anomalous arsenic (As), mercury (Hg) and antimony (Sb). Near the eastern end of the (known) silica exposure, up to 15 per cent marcasite occurs as disseminations within the silica, and as centimetre-scale clasts that exhibit internal banding. This showing is interpreted as representing a hydrothermal vent intersecting the unconformity.

Widespread argillic alteration and more local silicification occur in the footwall of the unconformity. Two separate zones of alteration and veining have been discovered: The western zone is a north-trending, 200-metre-long by 50 m to 75 m wide, zone of silicification, with peripheral argillic alteration, centred on a north-trending fault zone marked by a narrow band of listwanite. Multiple narrow (to 0.5 m) chalcedonic quartz (plus/minus quartz breccia) veins (up to 4.2 ppm Au) occur within the broader zone of silicification. A second similar zone of alteration and veining is located 200 m to the east. The target areas were further delineated via a large gold-copper-silver plus/minus Hg, Sb, selenium (Se), barium (Ba) soil anomaly over the exposed epithermal system.

Rock chip and drill hole results indicate predominantly argillic and lesser propylitic alteration. Kaolinite dominates the argillic suite. The strongest zone of alteration is a north-trending, 200 m long by 50 m to 75 m wide, zone of silicification near the irregular clastic/intrusive contact centred on a north-trending fault zone. Multiple narrow (to 0.5 m) chalcedonic quartz (plus/minus quartz breccia) veins occur within the broader zone of silicification. Values of up to 4.2 ppm Au have been recovered from these veins.

Private placement and 2018 proposed work programs

On July 19, 2018, the company closed a private placement of units and flow-through units for gross proceeds of $55,000. The company sold 562,500 units at a price of eight cents per unit, and 100,000 flow-through units at a price of 10 cents per FT unit. Each NFT unit consisted of one common share of Grizzly and one share purchase warrant. Each FT unit sold consisted of one share, issued as a flow-through share pursuant to the Income Tax Act (Canada) and one-half of one warrant. Each warrant entitles the holder to acquire an additional share for an exercise price of 12 cents and expires on the earlier of: (a) 30 days following the issuance of a news release by the corporation that the trading price of the common shares on the TSX Venture Exchange is at or greater than 18 cents per common share for 10 consecutive trading days; and (b) July 19, 2020.

An insider of the company purchased 137,500 units for proceeds of $11,000 and a corporation controlled by an insider purchased 75,000 NFT units for proceeds of $6,000. The closing of the placement is subject to final acceptance by the TSX Venture Exchange.

Grizzly has submitted three notices of work programs to the BC Ministry of Energy, Mines & 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 NOW program will cover potential cobalt-copper-silver (Co-Cu-Ag) 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, 2018, and September, 2018.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company focused on developing its precious metals properties in southeastern British Columbia, and significant potash and diamond assets in Alberta. The company holds or has an interest in over 180,000 acres of precious metal, base metal and cobalt properties in British Columbia; metallic and industrial mineral permits for potash covering more than 60,000 acres along the Alberta-Saskatchewan border; and more than 161,000 acres of properties which host diamondiferous kimberlites in the Buffalo Head Hills region of Alberta.

The content of this news release and the company's technical disclosure has been reviewed and approved by Michael 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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