Mr. Brian Testo reports

GRIZZLY CLOSES PRIVATE PLACEMENT AND COMPLETES MIDWAY-BEAVERDELL OPTION

Grizzly Discoveries Inc. has closed on a private placement originally announced on Sept. 15, 2026, by the issuance of one million units, 325,000 FT (flow-through) units and 4,866,668 CMFT (critical minerals flow-through) units for gross proceeds of $359,875. The company also completed the Midway-Beaverdell option entered into on Oct. 10, 2023.

Private placement

Each unit, priced at five cents per unit, consisted of one common share of the company and one common share purchase warrant entitling the warrantholder to purchase an additional common share for 12 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 18 cents per common share for 10 consecutive trading days; and (b) 24 months (two years) from the date of issuance. Each FT unit, priced at 5.5 cents per FT unit, consisted of one common share and one-half of one warrant, each issued as a flow-through share for the purposes of the Income Tax Act (Canada). Each CMFT unit, priced at six cents per CMFT unit, consisted of one common share and one-half of one warrant, each 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 as the company in its discretion determined, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation. The offering is now closed.

The company intends to use the proceeds of the sale of the units for mineral property exploration and general working capital the proceeds from the sale of FT units for mineral property exploration, and the proceeds from the sale of the CMFT units for mineral property exploration specifically targeting critical minerals (as defined in the Income Tax Act (Canada).

In connection with the sale of 325,000 FT units and 4,866,668 CMFT units, the company paid cash finders' fees totalling $21,692 among Canaccord Genuity Corp., Hampton Securities Ltd., GloRes Securities Inc. and Jean-Pierre Colin. The company also issued a total of 328,416 non-transferrable finders' warrants (with each finder's warrant having the same terms as the warrants included in the units) among Canaccord Genuity, Hampton Securities and GloRes Securities in connection with the sale of 325,000 FT units and 4,366,668 CMFT units.

Following closing of the offering, the company has 240,313,037 common shares issued and outstanding. The common shares and any common shares issued on exercise of the warrants and finders' warrants are subject to restrictions on trading for four months from the date of issuance, expiring on Feb. 17, 2027. The offering is subject to final acceptance of the TSX Venture Exchange.

Completion of Midway-Beaverdell option

On Oct. 13, 2026, the company paid $5,000 and issued 100,000 common shares of the company to Daniel Hurd, of Peachland, B.C., to complete the Midway-Beaverdell option agreement entered into on Oct. 10, 2023. The company is now the 100-per-cent owner of the Midway-Beaverdell mineral rights covering 761.25 hectares (approximately 1,881 acres) in the Greenwood mining district of British Columbia. Mr. Hurd retains a 1-per-cent net smelter return (NSR) royalty and the right to any quarriable rocks.

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.