Mr. Brian Testo reports

GRIZZLY CLOSES 1ST TRANCHE OF PRIVATE PLACEMENT

Grizzly Discoveries Inc., on March 17, 2026, closed on the sale of 2.03 million units and 13.43 million flow-through (FT) units, at 3.5 cents per unit and FT unit, for gross proceeds of $541,100, as an initial tranche of a non-brokered private placement originally announced on Feb. 27, 2026.

The offering consists of up to 7,142,856 units and up to 21,428,574 of any combination of units and FT units. Each unit consists of one common share of the company and one common share purchase warrant entitling the warrant holder to purchase an additional common share for 5.5 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) 60 months (five years) from the date of issuance. Each FT unit consists of one common share and one-half of one common share purchase warrant, each of which shall be issued as a flow-through share for the purposes of the Income Tax Act (Canada). Each whole FT unit warrant shall entitle the holder to purchase an additional common share for 5.5 cents and will expire 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) 36 months (three years) from the date of issuance.

The offering remains open, with up to 5,112,856 units and up to 7,998,574 of any combination of units and FT units, pursuant to closing of this first tranche. The units and the FT units are being offered at 3.5 cents per unit or FT unit. 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.

In connection with the sale of an aggregate 2.03 million units and 12.43 million FT units, the company paid cash finders' fees of $29,463 and issued 841,800 non-transferable finders' warrants, with equivalent terms to the FT unit warrants, as detailed in the attached table.

Following closing, the company has 221,925,956 common shares issued and outstanding. The common shares and any common shares issued on exercise of the unit warrants, FT unit warrants and finders' warrants are subject to restrictions on trading until July 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 metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, with a record of advancing exploration projects from early exploration stage through to feasibility stage.

We seek Safe Harbor.