Grizzly “GZD” Update – Follow-Up Drilling & Financing

Grizzly Discoveries “GZD” reported that initial follow-up drilling at the Ket 28 property and the Prince of Wales and Mabel Jenny targets at the Copper Mountain property 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.

Three follow-up drill holes were drilled at the Ket 28 property and all three intersected sulphide mineralization.  Five drill holes were completed at teh Copper Mountain property and extensive zones of sulphide-bearing siliceous biotite hornfels were intersected in all five follow-up holes drilled.  The drill core samples have been shipped to ASL Labs for assaying.  Preliminary assay results should be available early in the New Year.

Seven to ten drillholes are planned at the Dayton property where a high priority gold-in-soil target that is 400 m long by 200 m wide was located.

Brian Testo, President, stated that “initial visual results of widespread alteration are promising.  We look foward with great anticipation to lab results from the fall drilling program and the potential to expand 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.”

On November 25th the Company announced a $1M non-brokered private placement of flow through units priced at $0.35 per unit and non-flow through units priced at $0.30 per unit.

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