Mr. Brian Testo reports

GRIZZLY CLOSES PRIVATE PLACEMENT

On Jan. 19, 2024, Grizzly Discoveries Inc. closed on a private placement by the issuance of 2,975,500 units (as defined below) at a price of five cents per unit for gross proceeds of $148,775.

Under the terms of the offering, each unit consisted of one common share of the company and one-half of one warrant. Each whole warrant entitles the holder to acquire one additional common share at an exercise price of seven cents per common share and shall expire on the earlier of: (a) 30 days following written notice by the issuer to the subscriber that the volume-weighted average trading price of the common shares on the TSX Venture Exchange is at or greater than 10 cents per common share for 10 consecutive trading days; and (b) Jan. 19, 2026.

The company intends to use the proceeds from the units for general working capital.

The common shares and any common shares issued on exercise of the warrants are subject to restrictions on trading until May 20, 2024, in accordance with the policies of the TSX Venture Exchange.

Following closing of the offering, the company has 152,669,619 common shares issued and outstanding. The offering is subject to final 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 72,700 hectares (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, which has a record of advancing exploration projects from early exploration stage through to feasibility stage.