Mr. Brian Testo reports

GRIZZLY ANNOUNCES CLOSING OF INITIAL TRANCHE OF PRIVATE PLACEMENT

Grizzly Discoveries Inc. has closed on an initial tranche of the private placement of units and flow-through units originally announced on June 20, 2024, and extended on July 19, 2024.

The company issued a total of 6,157,668 units and 700,000 FT units, each at a price of three cents, for aggregate gross proceeds of $205,730.

Each unit consists of one common share of the company and one non-transferrable common share purchase warrant entitling the warrant holder to purchase an additional common share for five cents and expiring on the earlier of a) 30 days following written notice by the company to the warrant holder 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) 24 months from the date of issuance. Each flow-through unit consists of one common share and one-half of one warrant, each of which shall be issued as a flow-through share for the purposes of the Income Tax Act (Canada). The offering is being offered to qualified subscribers in the provinces of Alberta, British Columbia and Ontario, and in other jurisdictions as the company may in its discretion determine in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.

The proceeds of $184,730 from the sale of units in this tranche are intended to be used for general working capital and corporate overhead, including the payment of management fees to officers of the company, and the proceeds of $21,000 from the sale of FT units will be reserved for mineral property exploration.

No commissions or finders' fees were paid with respect to this tranche of the offering.

The offering remains open, with 10,509,000 units and 16,966,668 FT units remaining under the maximum offering, until Aug. 18, 2024.

The offering is subject to final approval from 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, who has a record of advancing exploration projects from early exploration stage through to feasibility stage.

We seek Safe Harbor.