Mr. Brian Testo reports

GRIZZLY CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

On Dec. 17, 2025, Grizzly Discoveries Inc. closed on the sale of eight million flow-through units, at three cents per FT unit, for gross proceeds of $240,000 as an initial tranche of a non-brokered private placement originally announced on Nov. 25, 2025.

The offering consists of up to 8,333,333 units and up to 25 million of any combination of units and FT units. Each unit consists of one common share of the company and one non-transferable 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 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 FT 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 offering remains open, with up to 8,333,333 units and up to 17 million of any combination of units and FT units, pursuant to closing of this first tranche.

In connection with the sale of the eight million FT units, the company paid a cash finder's fee of $14,400 and issued 240,000 non-transferable finder's warrants, with equivalent terms to the warrants, to GloRes Securities Inc., and 240,000 finder warrants to Marquest Asset Management Inc.

Following closing, the company has 186,602,289 common shares issued and outstanding. The common shares and any common shares issued on exercise of the warrants and finder warrants are subject to restrictions on trading until April 18, 2026. The offering is subject to final acceptance of 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 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.