EDMONTON, ALBERTA – May 04, 2022 -- Grizzly Discoveries Inc. (TSX-V: GZD; Frankfurt: G6H; OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that crews will be mobilizing to the Greenwood District during the first two weeks of May to commence preparations for surface based fieldwork and eventual drilling during 2022.
The Company is permitted for initial drilling programs at its Motherlode and Dayton Prospects in the Greenwood area, British Columbia (BC) and is currently in the process of obtaining the required permits for drilling at the Robocop Project near Grasmere, BC.
Grizzly intends to use the proceeds from the recently completed financing to conduct surface exploration including soil and rock sampling, ground geophysical surveys followed by drilling ats its Greenwood and Robocop projects in southern BC.
Grizzly will focus efforts at a number of new and existing high-priority battery metals targets at Robocop (copper, cobalt and silver) and precious metals – battery metals targets at Greenwood (gold-silver-copper and other based metals).
The ground exploration will be focused on or near prospective targets to be drilled during 2022. Recent geophysical and geochemical results have outlined large areas with geological potential to generate new discoveries at both projects.
Brian Testo, President and CEO of Grizzly Discoveries stated “We look forward to the start of the 2022 program after completing a significant financing that will allow is to complete our long-awaited drill programs at the Robocop Battery Metals Project at our Greenwood Precious Metals-Battery Metals Project.
“Grizzly has significant potential for new copper-cobalt and copper-precious metal discoveries during a time when demand for battery metals is surging due to the shift to renewable energy sources and electric vehicles. We are looking forward to commencing an initial Phase 1 program over the next couple of months to isolate drill targets in preparation for Phase 2 - 2022 drill testing. The geology of the Robocop and Greenwood areas has the potential to yield world-class discoveries. Finally, We would like to thank our shareholders for their ongoing support and participating in our future by exercising share purchase warrants.”
Warrants Exercised
Between April 26 and May 2, 2022, the Company issued 750,000 common shares for proceeds of $56,250 pursuant to the exercise of warrants. Including previously announced warrant exercises in 2022, the Company has issued a total of 1,552,500 common shares of Grizzly for proceeds of $116,437 pursuant to the exercise of warrants
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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 66,000 ha (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604 282 6372
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.