Mr. Brian Testo reports

GRIZZLY PREPARES GOLD DRILLING PROGRAM IN BRITISH COLUMBIA, CANADA

Grizzly Discoveries Inc. has commenced its over-2,000-metre, over-11-hole core drill program on the Ket 28 high-grade gold property, situated on its Greenwood property, located in an established, road-accessible and historic mining district in southeastern British Columbia. This program is the first phase of drilling at Ket 28, designed to further test the currently defined Au mineralized zone, leading to the development of a maiden mineral resource estimate. The initial Ket 28 drill program is expected to cost approximately $500,000 and will be the primary focus of the 2020 phase 1 exploration program.

Full Force Diamond Drilling Ltd. commenced drilling on core hole 20KT001 on Sept. 27, 2020. Grizzly is finalizing and preparing the remaining drill collar locations for its phase 1 drilling program at Ket 28, with the goal, once all the assay results are received prior to the end of 2020, of providing a maiden mineral resource in the first half of 2021.

Historic drilling at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood project, has intersected high-grade gold with 52.19 grams per tonne (g/t) Au over 3.35-metre 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 g/t Au over 11 m core length and 8.75 g/t Au over three m with a higher grade zone of 11.90 g/t Au over two m core length.

Brian Testo, chief executive officer, commented: "Our 2020 drill program is under way, and we are looking forward to analyzing the results. This new data will advance us toward developing our initial resource estimate of gold mineralization at Ket 28, on our expansive Greenwood property. We anticipate assay results before the end of the year and we will build on these results to continue financing our exploration efforts in Southern British Columbia in 2021."

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 86.5 million shares issued, focused on developing its over 156,000 acres of precious and base metals 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.

The technical content of this news release and the company's technical disclosure have 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.

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