Mr. Brian Testo reports

GRIZZLY ANNOUNCES TERMINATION OF PRIVATE PLACEMENT

Grizzly Discoveries Inc. has terminated the private placement announced on June 20, 2024, and extended on July 19, 2024, on which a closing was announced on July 31, 2024.

On July 31, 2024, the company issued a total of 6,157,668 units and 700,000 flow-through units, each at a price of three cents, for aggregate gross proceeds of $205,730.

Each unit consisted of one common share of the company and one non-transferable common share purchase warrant, entitling the warrantholder 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 warrantholder 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 was offered to qualified subscribers in the provinces of Alberta, British Columbia and Ontario and in other jurisdictions at the discretion of the company, 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 the offering 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.

An insider of the company subscribed for one million units for proceeds of $30,000. The purchase of units is considered to be a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) but is exempted from the requirements to obtain a formal valuation and to obtain minority approval, as the purchase of securities does not exceed 25 per cent of the company's market capitalization. The company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101. No commissions or finders' fees were paid with respect to the offering.

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 metal 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.

We seek Safe Harbor.