Grizzly “GZD” has spent approximately $1.7 million in exploration on its potash and gold properties during 2012. On February 21, 2012, Grizzly announced resulted from a potash drill hole on their 100% owned South Medicine Hat Block which yielded weighted average grades of 2.62% K2O over 22.35 m for a thick low grade zone with a higher grade zone of 8.77 K2O over 2.65 m and .3 m of 31.1% K2O. Subject to financing, Grizzly expects to conduct further drilling of 1 or 2 holes in the South Medicine Hat Block and the North Lloydminster Block during the 3rd or 4th quarter of 2012.
In March 2012, Grizzly commenced drilling on the Greenwood gold project. The program comprised of a total of 1,336 m in 4 holes and was completed mid May 2012 with results pending and expected during June.