Edmonton, Alberta--(Newsfile Corp. - September 2, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that preliminary results for a Phase 2 Induced Polarization (IP) program conducted in April and May 2026 to follow up excellent prior results from both recent and historical surface sampling along with historical drilling results at the Motherlode Critical Minerals Target (Figure 1).

Highlights

• Phase 2 Motherlode IP results identifies at least five (5) Discreet Chargeability Anomalies with four (4) of the anomalies yielding numerous readings in the core of each ranging from 30 up to 52 millivolts per volt (mV/V). The results have outlined several discreet and significant chargeability anomalies in the vicinity of the Greyhound Pit, the Sunset Pit and the Motherlode Pit. (Figures 2 and 3).
• A couple of the Chargeability anomalies are on the order of 1 km by 500 m in current size and are open for further expansion (Figures 2 and 3).
• Most of the chargeability anomalies have associated moderate to strong copper (Cu) and gold (Au) in soils and in rocks (Figure 2). Each of the pit areas have yielded numerous samples anomalous in Cu (>1% up to 5%) and Au (>1 g/t up to 20 g/t) with strong skarn mineralization.
• Host rocks in the area are mapped as late Paleozoic to Early Triassic metasedimentary rocks including carbonates and calcareous shales. A number of dykes, stocks and large intrusions are mapped in the area and likely range from Jurassic to Cretaceous to Eocene in age.
• The Geological Setting is the East Fault Contact of the Toroda Graben with numerous pyroxenite-monzonite-diorite (older - Jurassic) and younger quartz-feldspar porphyry (QFP)-diorite (Tertiary) intrusions into the sedimentary package and the overlying younger intermediate-mafic volcanics.
• The East and West Faults of the Toroda Graben likely played a role in controlling the Au-Ag mineralization for the Buckhorn Skarn and Mine to the southwest and the Cu-Au-Ag mineralization for the Motherlode/Greyhound skarns in the Greenwood area (Figure 1).
• Permitting of drill locations to test the new anomalies is underway.

A total of eight north-south lines spaced 200 m apart and totaling 12.9 line km of Induced Polarization (IP) were conducted by Peter E. Walcott and Associates in late April through May, 2026 (Figure 2). The results have outlined several discreet and significant chargeability anomalies in the vicinity of the Greyhound Pit, the Sunset Pit and the Motherlode Pit. It is interpreted that the strong chargeability anomalies likely represent disseminated sulphides and potentially represent intrusion related skarn and/or porphyry targets (Figures 2 and 3).

The Company is currently in the process of permitting additional drillhole pads to complete drill testing of a number of the chargeability targets during a fall drilling program at the Motherlode Critical Minerals Target area along with potentially the Sappho Critical Minerals Target area and the Midway Precious Metals - Critical Minerals Target area. Further IP work, geological mapping and surface sampling centered on several of the targets is planned prior to the commencement of drilling.

• A new sulphide showing was discovered during early 2026 field work, with a rock grab sample from an old adit yielding 5.12 grams per tonne (g/t) Au, 66.7 g/t Ag and up to as high as 0.53% Cu (Figure 2 and see Grizzly news release dated May 25^th, 2026).

Figure 1: Motherlode and Other Active Exploration Areas 2026.

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Figure 2: Motherlode IP Chargeability Anomalies Plan View - Summary Survey Results.

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Brian "Griz" Testo, President & CEO of Grizzly Discoveries, states: "IP Surveys have outlined multiple and significant chargeability anomalies and new targets across the Motherlode Project Area. The Grizzly team is excited to see what the next phase of drilling might show us - we will continue to refine these targets to the drill ready stage for drilling in the next couple of months and look forward to identifying some new discoveries."

Figure 3: Motherlode Chargeability Anomalies Orthogonal View looking NNE - Voxel Model Survey Results and Cross-Sectional Inversions.

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Ongoing Exploration

The Company is continuing with surface exploration in the Greenwood area. Crews from APEX completed trenching and rock sampling in June at the Midway Mine area, as well as some follow sampling at the Sappho Chargeability Target area. The 2026 exploration work was suspended in July and August during high fire season but has recommenced and will be ongoing through the fall and includes prospecting and rock sampling at targets in the Motherlode area, the Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area and at the Sappho area (Figure 1). Additional groundwork including ground geophysical surveys are being planned and will comprise IP, magnetics and Loupe electromagnetics (EM) for the Sappho, the Midway and Motherlode areas (Figure 1). Additional drilling is planned from October to December. Results from the 2026 work are pending and will be released as they are received.

Motherlode Area Past Exploration Highlights

The Motherlode Crown Grants near the town of Greenwood, South-Central British Columbia (BC) include 13 Crown Grants for over 300 acres (121.4 hectares) that include subsurface mineral rights (Figure 2). The Crown Grants take precedence over mineral claims issued pursuant to the Mineral Tenures Act (BC). The Crown Grants cover a number of historical mines, including the Motherlode Mine that produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).

The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the Crown Grants (Figures 2). Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from 1.16% Cu up to 4.88% Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and 8 samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag (See Company News Release dated January 15, 2025). Of the 10 samples collected from the Sunset Pit area, a total of 8 samples yielded from 1.44% Cu up to 3.66% Cu, 9 samples yielded from 1.7 g/t Au up to 4.88 g/t Au and 7 samples yielded from 14.5 g/t Ag up to 55 g/t Ag (See Company News Release dated January 15, 2025). Various other targets including the Greyhound Pit, the Butte City Target, the Marguerite Target and the Great Hopes Target have yielded a number of samples with >1% Cu and >10 g/t Au and warrant additional exploration (See Company News Release dated January 15, 2025).

Figure 4: Motherlode Conductivity Anomalies - Orthogonal View looking NNW - Voxel Model Survey Results and Cross-Sectional Inversions.

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Past work by the Company has focused on the Motherlode North polymetallic and skarn targets (Figures 1 to 3) which are comprised of copper-gold-silver +/- lead-zinc (Cu-Au-Ag +/- Pb-Zn) targets 500 to 750 m north and northeast of the historical Motherlode Mine.

Prior drilling by Grizzly in 2011 intersected up 17.15 g/t Au, 41.7 g/t Ag, along with, 0.56% Pb and 1.51% Zn over 1.5 m core length at one of the skarn targets north of the Motherlode Pit. Skarn and sulphide rich mineralization, along with widespread hornfels and propylitic alteration were intersected in most of the more recent 2022 Motherlode North drilling (22ML07 to 15) and the two (22MR01 & 02) Marguerite core holes (Figures 2 and 3). Assay results for the nine Motherlode North 2022 holes have yielded anomalous Au, Ag, Cu, Pb and Zn in every hole with a best high-grade sample of 5.86 g/t Au and 6.36 g/t Ag over 1 m core length along with several wide low-grade intersections in particular adjacent to porphyritic intrusions in Triassic sulphide rich hornfelsed or skarnified Brooklyn sedimentary rocks. Examples include hole 22ML07 with 0.415 g/t Au, 2.19 g/t Ag, 0.019% Cu and 0.08% Zn over 17.56 m core length, along with hole 22ML08 with 0.108 g/t Au, 2.43 g/t Ag, 0.013% Cu and 0.059% Zn over 11.09 m core length and 0.332 g/t Au, 2.63 g/t Ag and 0.053% Zn over 15 m core length, interpreted to be part of a large alteration footprint in a well mineralized skarn-porphyry system.

The porphyritic intrusions are widespread and are likely Cretaceous or Eocene in age. Sulphide mineralization with anomalous geochemistry appears to be spatially associated with these intrusions. The two holes in the vicinity of the Marguerite historical shaft intersected near surface skarn with anomalous Au-Ag-Cu and deeper hornfelsed sediments and breccias that are silica-sulphide rich and with widespread anomalous Cu over 50 to 100 m in thickness (Holes 22MR01 and 02). The deeper mineralization is associated with propylitic alteration and potentially could highlight deeper copper-gold porphyry potential beneath the Motherlode area skarn system. Holes 22MR01 and 22MR02 returned upper skarn related zones of 0.442 g/t Au, 5.61 g/t Ag and 0.028% Cu over 5.32 m, and 0.227 g/t Au, 4.36 g/t Ag and 0.037% Cu over 9.5 m core length. The lower highly anomalous copper-gold rich zones are highlighted by 0.123 g/t Au, 2.06 g/t Ag and 0.127% Cu over 8 m core length in hole 22MR02, but this is contained within a 46 m wide zone to the end of the hole where all but 4 of 45 samples yielded >100 ppm Cu up to 1,980 ppm Cu. Similarly, in hole 22MR01, there was a lower zone of copper rich mineralization that is 119 m in thickness to the end of the hole where 80 of 116 samples yielded >100 ppm Cu up to 1,600 ppm Cu. Although low grade, the wide highly anomalous intersections of low to moderate grade gold and copper are likely indicative or part of a large mineralized hydrothermal system.

Warrants Exercised

In July 2026, the Company issued 1,183,335 common shares upon the exercise of outstanding warrants for gross proceeds of $59,167. Pursuant to the exercise of warrants, the Company has 234,021,369 common shares issued and outstanding.

ASSAY METHODOLOGY & QUALITY CONTROL (QA/QC)

The analytical work on the Greenwood Critical Minerals Project was performed by the ALS Global Limited in Kamloops and North Vancouver, an internationally recognized analytical service provider. All core and rock samples were prepared using ALS procedure PREP-31A (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method PGM-ICP27 (30g fire assay with ICP finish for Au, Pt and Pd) and ME-ICP61a (0.5g, four acid digestion and ICP-AES/MS analysis) for multi-elements. Any samples containing >10g/t Au are reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn are reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Rock samples were analyzed using Au-ICP21 (30g fire assay with ICP-AES finish) and multi-elements using ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis).

The reported work has been completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standards, blanks and duplicates into the sample stream by APEX personnel. The ALS geochemical laboratory data was provided directly to APEX and the QP and has been verified by the QP.

QUALIFIED PERSON STATEMENT

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 a non-independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and critical minerals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

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.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

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