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Grizzly Identifies Geophysical Targets At Its Robocop Cobalt-Copper-Silver Property In Southeastern British Columbia, Canada

EDMONTON, ALBERTA – April 15, 2021 -- Grizzly Discoveries Inc. (TSX-V: GZD; OTCQB: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that Geotech Ltd. has provided final data for the Company’s approximately 400 line km Versatile Time Domain Electromagnetic (“VTEM™”) and magnetic survey over its 100% owned, road accessible Robocop Property in Southeast British Columbia (the “Property”), near the hamlets of Grasmere and Roosville. The VTEM™ survey was flown at 100 metre line spacing and, following interpretation, the data provides the first property-wide, high resolution geophysical images of the Property. Geotech Ltd. has provided initial finalized data and it confirms the presence of a number of EM (conductance) and magnetic anomalies that will require follow-up review and exploration, including drill testing.

HIGHLIGHTS FOR THE ROBOCOP PROPERTY

The Robocop Project is comprised of 6,850 acres (2,770 ha) in five mineral claims that are all road accessible, just off Provincial Highway 93 in southeast B.C.

The Robocop VTEM™ survey is the first modern geophysical survey to be conducted at the property. The VTEM™ survey has identified multiple EM (conductance) and magnetic anomalies for follow-up exploration and drill testing.

Initial surface trenching in the late 1980’s to early 1990’s yielded up to 0.06% cobalt (Co) and 1.93% copper (Cu) over 6 metres (m) in one trench, and in a separate trench with up to 0.146% Co, 1.8% Cu and 5.3 grams per tonne (g/t) silver (Ag) over 5 m in sediment-hosted sulphide mineralization within middle Proterozoic Purcell Group rocks (Thomson, 1990).

A total of 15 drill holes in the area completed between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 0.134% Co, 1.19% Cu and 33.8 g/t Ag over 1.23 m core length in hole R-1990-5 and 0.14% Co, 0.9% Cu and 2.7 g/t Ag over 3.1 m core length in hole R-1990-6 (Thomson, 1990), along with an intersection of 0.18% Co, 0.28% Cu and 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009).

All but one of the historical drillholes tested a single target in an area about 500 m by 350 m. The Property is approximately 10 km in length and 3.5 km in width and contains at least four untested anomalous soil +/- rock geochemical targets (see figure below).

Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to mineralization at Jervois Mining Ltd.’s Idaho Cobalt project and Hecla’s Revett Formation hosted mineralization near Troy, Montana.

Brian Testo, CEO of Grizzly commented, “We are pleased to hit the ground running in 2021 by completing the first step of this year’s exploration program at our Cobalt-Copper-Silver prospective Robocop Property. The new geophysics has identified multiple high-priority drill targets for copper, cobalt and silver. Historical work indicates we are in a system that caries significant grades adjacent to the new targets. The geology of the area and new targets have potential for new discoveries. Following interpretation and analysis of the VTEM survey raw data, Grizzly will refine and prioritize targets for our planned drill program at Robocop in 2021.”