GZD Grizzly Discoveries Inc

Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) ("Grizzly" or the
"Company") is pleased to report that initial follow-up drilling at the Ket 28
Property and the Prince of Wales and Mabel Jenny Targets at the Copper Mountain
Property, all within the Company's Greenwood Gold Project, has been completed.
Drilling at the Greenwood Gold Project's Dayton Property gold-in-soil anomaly
near the historic Mt. McKinney gold camp is in progress. 


Brian Testo, President and CEO of Grizzly, states that "initial visual results
of widespread alteration are promising. We look forward with great anticipation
to lab results from the fall drilling program and the potential to expand the
known gold zones at Ket 28 and Copper Mountain, as well as the potential to make
a new discovery by testing the high priority gold-in-soil anomaly identified at
the Dayton area."


Ket 28 Property 

Drilling during late 2009 at Ket 28 Property yielded up to 11.9 grams per tonne
(g/t) gold over 2.0 metres (m) and 2.77 g/t gold over 11.0 m in separate
drillholes associated with late stage brecciation, pyrite and quartz veins in
mafic volcanics and sediments (see Grizzly's news release dated January 18,
2010).


Three follow-up holes totaling 693 m were recently drilled to test the depth and
plunge extent of gold mineralization at the Ket 28 Property. All three follow up
drillholes intersected sulphide mineralization spatially associated with zones
of brecciation, quartz veins and alteration. The drill core has been sampled
with the samples being shipped to ALS Laboratory Group in North Vancouver, BC
for assaying. 


Copper Mountain Property 

Drilling during the summer of 2010 at the Prince of Wales target yielded a new
gold discovery with an intersection of 1 g/t gold across 30 m core length in
drillhole 10CM07. Gold mineralization is associated with a wide zone of pyrite
and arsenopyrite in a siliceous biotite hornfels in hole 10CM07. 


Three follow-up holes have been drilled at the Prince of Wales target along with
two follow-up drillholes at the Mable Jenny North showing for a total of 760.5 m
in five drillholes at the Copper Mountain Property. Extensive zones of
sulphide-bearing siliceous biotite hornfels were intersected in all five
follow-up holes drilled during the current program. Pyrite with minor
arsenopyrite, pyrrhotite, chalcopyrite and sphalerite represent the main
sulphides present. The most intense sulphide zones are often adjacent to syenite
dykes. Follow-up drillhole 10CM09, which was drilled beneath the discovery hole
(10CM07) at the Prince of Wales target, yielded an 8 m core interval of
sulphide-bearing epidote-garnet-magnetite skarn along with several intervals of
sulphide-bearing siliceous biotite hornfels. At the Mabel Jenny North target,
several narrow (0.5 m to 1.5 m) intersections of near-massive sulphide (pyrite
and pyrrhotite) were intersected in drillholes 10CM11 and 10CM12 within much
wider zones of sulphide-bearing siliceous biotite hornfels. Core logging is
complete and sampling of the five Copper Mountain drillholes should be completed
by the end of the week. 


Dayton Property 

Soil sampling by crews from APEX Geoscience Ltd. during 2010 located a high
priority gold-in-soil target that is 400 m long by 200 m wide with 50 samples
that assay between 50 and 272 parts per billion (ppb) gold (see Grizzly's news
release dated October 19, 2010).


The Company plans to complete 7 to 10 drillholes (800 to 1,000 m) at the Dayton
Property. The Lone Peak Drilling Ltd. diamond drill has been moved to the Dayton
Property target area in the vicinity of the historic Mt. McKinney gold camp.
Drilling should be completed by mid-December with all core logged, sampled and
shipped to ALS Laboratory Group in North Vancouver, BC, prior to Christmas.
Preliminary assay results should be available early in the New Year. 


About Grizzly Discoveries Inc. 

Grizzly is an aggressive Canadian exploration company focused on exploring for
world class gold and base metal deposits in British Columbia, and for diamonds
and industrial minerals in Alberta. In British Columbia, Grizzly currently has
four precious-base metal properties totaling over 235,000 acres. It currently
holds more than 600,000 acres in diamond properties which host diamondiferous
kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta. Grizzly
has also acquired metallic and industrial mineral permits for potash totaling
more than 1.8 million acres along the Saskatchewan-Alberta border.


Grizzly trades on the TSX Venture Exchange under the symbol GZD, with 31,410,302
Common Shares issued and outstanding. 


All 2010 field and office exploration programs are conducted under the
supervision of Mr. Michael Dufresne, M.Sc., P.Geol., a principal of APEX
Geoscience Ltd. and a Qualified Person under National Instrument 43-101.


On behalf of the Board

Grizzly Discoveries Inc.

Brian Testo, President

For further information, please visit our website at
http://www.grizzlydiscoveries.com or contact Investor Relations.


This news release contains certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including, without
limitation, statements regarding potential mineralization, resources and
reserves estimates, exploration results, exploration and development results and
the future plans and objectives of Grizzly are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Readers are
cautioned not to place undue reliance on forward-looking information. By its
nature, forward-looking information involves numerous assumptions, inherent
risks and uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and various future
events will not occur. Grizzly undertakes no obligation to update publicly or
otherwise revise any forward-looking statement whether as a result of new
information, future events or other factors which affect such statement, except
as required by law.

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