Mr. Brian Testo reports

GRIZZLY PROVIDES UPDATE ON THE ACQUISITION OF THE MOTHERLODE CROWN GRANTS, GREENWOOD PRECIOUS - BATTERY METALS PROJECT, BC

Grizzly Discoveries Inc. has provided an update on the acquisition of the Motherlode Crown grants from First Majestic Silver Corp. and has discussed some highlights of recent exploration completed by the company on the Motherlode Crown grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900s produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings.

The Motherlode Crown grants near the town of Greenwood, south-central British Columbia, include 13 Crown grants for over 300 acres (121.4 hectares) that include subsurface mineral rights. The Crown grants take precedence over mineral claims issued pursuant to the Mineral Tenures Act (B.C.). The Crown grants cover a number of historical mines, including the Motherlode mine that produced 76,975,111 pounds of Cu (copper), 173,319 ounces of Au (gold) and 688,203 ounces of Ag (silver) 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 (B.C. Minfile 082ESE034). The Motherlode mine is road accessible and is approximately 2.5 kilometres northwest of the town of Greenwood.

Highlights

• First Majestic has completed the reinstatement of the Motherlode Crown grants and is in the process of transferring the Crown grants with the subsurface mineral rights to the company.
• The company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the newly acquired Crown grants.
• Of the 17 samples collected from the Motherlode pit area, a total of nine samples yielded from 1.16 per cent Cu up to 4.88 per cent Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and eight samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag.
• Of the 10 samples collected from the Sunset pit area, a total of eight samples yielded from 1.44 per cent Cu up to 3.66 per cent Cu, nine samples yielded from 1.7 g/t Au up to 4.88 g/t Au, and seven samples yielded from 14.5 g/t Ag up to 55 g/t Ag.
• Various other targets including the Greyhound pit, the Butte City target, the Margerite target and the Great Hopes target have yielded a number of samples with greater than 1 per cent Cu and greater than 10 g/t Au and warrant additional exploration.
• Various historical mineral resource estimates (MREs) produced both prior to the last period of mining 1957 to 1962 (Fredericks, 1961) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available B.C. property files.
• A historical MRE (mineral resource estimate) constructed in 1967 by Allen Geological Engineering Ltd. after the last period of mining on behalf of two companies, Aabro Mining and Oils Ltd. and Cumberland Mining Ltd., is described as drill proven (assured), indicated and inferred, and totals 2.8 million tonnes with a grade of 0.8 per cent Cu and 1.06 g/t Au yielding a calculated grade of 1.6 per cent Cu equivalent (CuEq) utilizing 90-per-cent recovery for both metals and $4/pound for Cu and $2,000/ounce for Au.
• This historical MRE was calculated prior to the implementation of the standards set forth in the current National Instrument (NI) 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards for MREs. Resource definitions, terminology and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature, and a qualified person (QP) has not done sufficient work to evaluate these resources as current resources. For these resources to be updated as current resources, a QP would need to examine and analyze the existing drill core, validate and verify the existing data supporting the historical estimate, and perform a confirmatory site visit. Therefore, the company and the QP for this news release are treating this estimate as historical in nature, and are highlighting the estimate for the sole purpose of illustrating the potential extent of mineralization that may be present.
• In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold a wholly owned subsidiary of First Majestic) intersected several zones of Cu-Au mineralization targeting the gold-bearing halo to the Motherlode skarn along the east side of the Motherlode pit in the vicinity of the historical underground workings.
• Drill hole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 g/t Au over the entire 154.23 m (506-foot) length drill hole with a number of higher-grade zones in proper skarn towards the bottom of the hole.
• The Main Motherlode skarn was intersected at the bottom of the drill hole and returned 2.5 g/t (0.073 ounce per ton) along with significant Cu over 4.88 m (16 ft) at the end of the drill hole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly.
• The drill hole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorite along the length of the drill hole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
• The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.

Brian Testo, president and chief executive officer of Grizzly Discoveries, stated: "We are excited with the acquisition of the historical Motherlode Crown grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2025 drilling campaign at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000-plus-acre holdings in the Greenwood district."

The company currently has an active land use permit for drilling at the Motherlode area and has designed a confirmation and exploration core drilling program for the Motherlode and Sunset pit areas along with additional drilling at the Greyhound and Great Hopes targets based upon a compilation of historical information. It consists of about 5,000 metres in 20 to 25 core holes and is focused on targets beneath and along strike from the various pit areas.

Summary of the Motherlode Crown grant purchase terms

• The company will cover the costs to reinstate and transfer the Crown grants to the company.
• Grizzly will issue 250,000 common shares of the company to First Majestic upon successful transfer of the Crown grants to the company. These shares will be subject to a restricted trading period ending four months and one day from the date of issuance.
• The company will grant a 1-per-cent net smelter return (NSR) royalty on the Crown grants to First Majestic that with an option for the company to purchase the NSR for $250,000 at any time.

The technical content of this news release and the company's technical disclosure has been reviewed and approved by Michael B. Dufresne, MSc, PGeol, PGeo, who is the 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 hectares (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who has a record of advancing exploration projects from early exploration stage through to feasibility stage.

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