Mr. Brian Testo reports

GRIZZLY PROVIDES CORPORATE UPDATE AND EXPLORATION PLANS FOR 2020 AT GREENWOOD, BC

Grizzly Discoveries Inc. has provided a corporate update and plans for 2020 exploration at its Ket 28 Greenwood project, together with anomalous results from soil sampling undertaken in 2019 on a portion of the Greenwood gold project.

Grizzly 2020 exploration plans -- Ket 28 prospect

Grizzly has received drilling permits for high-priority drill targets at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood project, at which historic drilling in 1994 intersected high-grade gold, with 52.19 grams per tonne gold over 3.35 metres of core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 prospect followed up the historic drilling in the mid-1990s, with up to 2.77 grams per tonne gold over 11 m core length and 8.75 grams per tonne gold over three m, with a higher-grade zone of 11.9 grams per tonne gold over two m core length. In addition, wider intervals of lower-grade mineralization were intersected, with 1.02 grams per tonne gold over 13.5 m core length and 1.19 grams per tonne gold over 10.35 m core length.

The company is currently planning a 2020 exploration program that will focus on the Ket 28 prospect, where the gold mineralization is open along strike and to depth, and requires further drill testing. Grizzly is planning a 15-to-20-hole drill program that will target the mineralized zone in the central portion of the Ket 28 prospect, with the intention of expanding the currently defined gold zone and developing a maiden mineral resource estimate. The initial Ket 28 drill program is expected to cost approximately $350,000 to $500,000 and is subject to financing.

Grizzly's chief executive officer, Brian Testo, commented: "Our extensive land position on the Greenwood property hosts numerous mineralized areas. Our focus is to develop a high-grade gold resource estimate that can lead to production potential. We believe the Ket 28 prospect has such potential, and this will be the first of several recommended stages of exploration to accomplish our goals in this prolific region of southeastern B.C."

Grizzly 2019 soil sampling

During 2019, a total of 889 soil samples were collected from the eastern portion of the company's Greenwood claim area, north of Grand Forks, within the Granby River drainage area. A total of 22 soil samples yielded greater than 50 parts per billion gold and seven samples greater than 100 parts per billion gold up to one gram per tonne gold. Several of the anomalous soils are coincident with Triassic Brooklyn formation volcanics and sediments in contact with Late Paleozoic Knob Hill formation volcanics and sediments, considered favourable geology for gold mineralization in the Greenwood area. Follow-up exploration, including prospecting with additional rock and soil sampling ground geophysical surveys, is being planned for 2020 for the anomalous targets identified with the 2019 survey.

Other Grizzly 2020 planned exploration

The company is planning to complete a planned helicopter magnetic and conductivity survey of the Robocop claims prior to conducting drilling.

In addition, with the recent uptick in platinum and palladium prices, the company is preparing to re-examine its Sappho prospect, located to the southeast of the town of Greenwood.

Details on these additional programs and schedules will be the subject of follow-up news releases.

The company invites all shareholders and interested investors to visit it in booth 3020 at this year's PDAC (Prospectors & Developers Association of Canada), March 1 to March 4, 2020, Toronto, Ont.

About Grizzly Discoveries Inc.

Grizzly Discoveries is a diversified Canadian mineral exploration company that is focused on developing its precious and base metal properties in southeastern British Columbia.

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.

We seek Safe Harbor.