EDMONTON, ALBERTA--(Marketwired - Sep 30, 2013) - Grizzly
Discoveries Inc. (TSX VENTURE:GZD)(OTCQX:GZDIF)(FRANKFURT:G6H)
("Grizzly" or the "Company") is pleased to report that it has
received a new independent technical report on its Greenwood
Project, located in southeastern British Columbia. The independent
technical report (the "Report") was completed by Michael B.
Dufresne (a Qualified Person as defined by National Instrument
43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects),
of Apex Geoscience Ltd. ("Apex") of Edmonton, Alberta and has been
prepared in compliance with NI 43-101. The Report will be filed on
SEDAR within 45 days.
HIGHLIGHTS
The Company's Greenwood Project covers over 90,000 hectares, and
includes eight distinct Claim Groups hosting copper, gold and
silver mineralization, together with other precious and base
metals. Prior surface exploration has included extensive rock,
stream and soil sampling together with extensive airborne and
ground geophysical surveys across the Greenwood Project. The
company has expended approximately $6.5 million on exploration with
five separate drilling campaigns totalling 10,363 meters ("m") in
58 diamond drill holes at a number of targets on the Greenwood
Project. It is predicted that there is the potential for mineral
resources in several areas of focus within the Greenwood
Project.
Based upon the results of exploration to date, the Report
recommends a phased follow-up exploration program of work within
prioritized selected areas of the Greenwood Project. The Report
recommends a first phase work program of approximately $837,500 to
drill approximately 11 diamond drill holes totalling 2,550 m to
test the Dayton claim group, the Ket 28 prospect, and the
Motherlode claim group, as well as surface fieldwork at the Mt
Attwood claim group. The Report recommends follow up drilling and
fieldwork in second and third phase exploration programs to expand
upon results to be obtained in the previous phase, with costs for
the second phase estimated at approximately $1.112 million, and
$1.375 million for the third phase.
FUTURE EXPLORATION
The Company is evaluating the recommendations in the Report in
order to select the targets and scope of work for a future focused
exploration program at the Greenwood Project, which will be subject
to financing.
Brian Testo, President and CEO of Grizzly, stated "We are
pleased to receive this technical report documenting our initial
prospect identification and follow-up drilling. Since acquiring the
property in 2008, we have been successful in the discovery of eight
prospect areas containing precious and base metals mineralization.
All of them are recommended for further work, with three of them
selected for priority attention. We are now evaluating these
recommendations to narrow the focus to the area or areas
recommended for further work that most closely aligns with the
Company's goal of defining a maiden mineral resource estimate at
the Greenwood Project in the near to medium term."
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company
with its primary listing on the TSX Venture Exchange with 48.7
million shares issued, focused on developing significant Potash
assets in Alberta and its precious metals properties in
southeastern British Columbia. The Company holds, or has an
interest in: metallic and industrial mineral permits for potash
totaling more than 900,000 acres along the Alberta-Saskatchewan
border; over 235,000 acres of precious-base metal properties in
British Columbia; and more than 600,000 acres in properties which
host diamondiferous kimberlites in the Buffalo Head Hills and Birch
Mountains of Alberta.
On behalf of the Board
Grizzly Discoveries Inc.
Brian Testo, President
For further information, please visit our website at
http://www.grizzlydiscoveries.com.
The content of this news release and the Company's technical
disclosure has been reviewed and approved by Michael B. Dufresne,
M. Sc., P. Geol., who is the Qualified Person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
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.
