Mr. Brian Testo reports

GRIZZLY APPOINTS V. RICHARD RABBITO TO THE BOARD OF DIRECTORS

Grizzly Discoveries Inc. has appointed V. Richard Rabbito as a director to serve until the company's next annual general meeting.

On May 26, 2023, the company's board of directors appointed Mr. Rabbito as an interim appointment to the board of directors. Mr. Rabbito's extensive background and in-depth level of experience has positioned him to understand the development of companies and the leadership required to manifest the goals of an organization.

Mr. Rabbito

As managing director of The Overseas Development and Finance Group, Mr. Rabbito focuses on the growth and development of small public and private companies. Working with an extensive client base in Europe and the United States, he arranges financing, increases investor awareness and development through strategic joint ventures of clients for both the domestic and European marketplaces. He has generated a client base of both funds and companies seeking to make direct investments into such companies while facilitating overall cross-border placements and marketing.

In 2008 to 2010, Mr. Rabbito was appointed to the advisory board of Piedmont Mining Corp., a publicly traded gold exploration company in Nevada.

Mr. Rabbito was also with APR Associates, a financial consulting firm, where he was responsible for new business development, mergers and acquisitions, and project financing. Prior to that, he was president of RJR International, an oil and ship consulting firm, where he negotiated financings for shipping and petroleum companies worldwide, and cultivated an extensive network of international clients. He was also involved with merchant banking, new business ventures and was active with the New York Futures Exchange.

Engaged by the French firm Worms & Cie Paris-New York, Mr. Rabbito created new business/revenue operations of an oil and shipping division, by integrating trading and financing between New York and Paris. He was assigned within Europe to expand the firm's client base, wherein he generated gross volume in excess of $5-million in the first 12 months. He subsequently sold a $15-million oil tanker, returned to New York as director of international oil and ship ventures, and was awarded the firm's top bonus for performance.

Mr. Rabbito has a BBA and MBA from Adelphi College, is a member of the Harvard Business Investment Group, and the financial analysts and money managers society.

Brian Testo, president and chief executive officer of Grizzly Discoveries, stated: "I would like to welcome Mr. Rabbito to the Grizzly Discoveries team. His experience with small public companies, extensive client base and business acumen will greatly assist Grizzly Discoveries gain broader depth and awareness in the global investment marketplace. We look forward to having Mr. Rabbito's sage advice and insightful knowledge as we progress the company forward in our endeavor to develop our current assets and make exploration discoveries."

In conjunction with his appointment, the board has authorized the issuance of stock options to Mr. Rabbito under the company's stock option plan, to acquire up to 500,000 common shares of Grizzly exercisable at nine cents per common share and expiring on May 26, 2028, or earlier, in accordance with the terms of the plan.

Mr. Rabbito's appointment and the issuance of options are subject to acceptance by the TSX Venture Exchange.

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 69,500 hectares (approximately 171,600 acres) of precious and base metal properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, which has a record of advancing exploration projects from early exploration stage through to feasibility stage.

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