Mr. Brian Testo reports

GRIZZLY ANNOUNCES THAT A CREW HAS BEEN MOBILIZED AND COMMENCED FIELDWORK AT GREENWOOD, BC PRECIOUS AND BATTERY METALS PROJECT

Grizzly Discoveries Inc. has recently mobilized a crew from APEX Geoscience Ltd. to conduct fieldwork at a number of targets prior to conducting trenching and drilling subject to financing. The targets are part of the Greenwood, B.C., precious and battery metals project.

In addition, the company announces agreements with two arm's-length creditors to settle outstanding cash debt with common shares of the company, including completing the Midway mine option and paying interest on the promissory note issued May 15, 2025. In aggregate, the company intends to issue 541,667 common shares of Grizzly in settlement of an aggregate $16,250 in outstanding debt.

Midway highlights:

• Drilling and trenching permit applications have recently been approved for the Midway, Sappho, Copper Mountain and Imperial target areas.
• The Midway area is being targeted for copper-gold skarn and epithermal gold-silver. At Midway, selective rock grab and composite rock grab samples from outcrop collected from the Midway mine-Picturestone area, with four of seven rock grab samples from outcropping mineralization in the Midway mine historical pit yielding a range of 12.05 grams per tonne (g/t) (or 0.351 ounce per ton (oz/t)) gold (Au) up to 70.8 g/t (2.065 oz/t) Au (see the company's news release dated Oct. 17, 2022).
• Three of the seven selective rock grab samples from the Midway mine pits yielded from 1,360 g/t silver (Ag) (39.7 oz/t Ag) up to 2,140 g/t Ag (62.4 oz/t Ag) (see the company's news release dated Oct. 17, 2022).
• All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of lead (Pb), zinc (Zn), copper (Cu), arsenic (As) and antimony (Sb), and are likely epithermal in nature.
• A selective rock grab sample from outcrop 200 metres (m) west of the main Midway mine yielded 15.85 g/t Au (0.462 oz/t Au) and 1,530 g/t Ag (44.6 oz/t Ag), illustrating that there is potential for additional high-grade mineralization in the area.

Brian Testo, president and chief executive officer of Grizzly Discoveries, stated: "We are excited and are looking forward to pursuing a number of high-grade gold-silver-copper-lead-zinc showings and historical mines with drilling in the fall of 2025 or early in 2026, along with additional exploration for significant battery metal prospects in our current 170,000-plus-acre landholdings in the Greenwood district. We have barely scratched the surface in terms of exploration!"

Plans for fall 2025 exploration at Greenwood

Trenching, rock and soil sampling along with drilling at the Midway target area is being planned for fall 2025 and early 2026. The amount of drilling will depend upon the financing efforts and weather.

Additional results should be forthcoming over the next coming months as work progresses and will be presented in additional news releases.

Midway mine option payment settlement

On Oct. 11, 2022, the company entered into an option agreement with an arm's-length individual to purchase the mineral rights to 317 hectares in seven mineral claims in the Greenwood, B.C., area. Completion of the Midway mine option pursuant to the 2022 option agreement requires the payment of $10,000 and the issuance of 100,000 common shares of the company on the third anniversary of regulatory acceptance of the Midway mine option.

The optionor has agreed to accept additional common shares of the company in lieu of the cash payment of $10,000 at a deemed price of three cents per common share for a total payment of 433,334 common shares to complete the third anniversary payment under the Midway mine option agreement and thereby complete the option. Pursuant to the third anniversary payment, the company will have a 100-per-cent interest in the Midway mine claims, subject to a 1-per-cent net smelter return (NSR) royalty in favour of the optionor and the optionor retaining the rights to quarriable industrial rocks.

Interest on note payable

On May 15, 2025, the company, among other things, issued a promissory note to an arm's-length corporation in partial settlement of outstanding debt to a creditor of the company. The note has a principal amount of $250,000 and bears simple interest of 5 per cent per year, payable every six months from the date of issue, and matures on May 15, 2027. Under the terms of the debt settlement agreement, the company may, at its option, pay the interest payments in common shares of the company.

The company has proposed to settle the semi-annual interest payment due November, 2025, in common shares, at a deemed price of three cents per common share, for a total of 208,333 common shares of the company representing the interest payment of $6,250.

The issuance of the cash option payment shares and the note interest shares are subject to acceptance by the TSX Venture Exchange and, upon issuance, will be subject to restrictions on trading until four months and one day from issuance.

Quality assurance and quality control

Rock and soil samples are being analyzed at ALS Global Laboratories (geochemistry division) in Vancouver, Canada (an ISO/IEC 17025:2017-accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (plus 10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by company personnel under the direction of Michael B. Dufresne, MSc, PGeol, PGeo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the company's technical disclosure has been reviewed and approved by Michael B. Dufresne, MSc, PGeol, PGeo, who is a non-independent consultant and 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 72,700 hectares (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team with a record of advancing exploration projects from early exploration stage through to feasibility stage.

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