“The Plateau area as a whole has many indications of a new emerging gold district,” said Goldstrike president Terrence King.  “The results from the 2011 exploration season far exceeded our expectations with nine new gold discoveries made including Plateau, Summit, Big One, Livingston and Lucky Strike, to name a few. Goldstrike looks forward to a busy 2012 as it works to exploit the full potential of the Plateau area, as well as its other eight stand-alone new gold projects.”

Est. inferred resources at a cut-off of 0.005 oz Au/t:  78.2 million tons grading 0.0138 oz Au/t

In situ gold:  1,080,900 ounces

Development period to construction decision:  5 years

Mine Life:  10.5 years

Average production rate:  21,300 tpd

Ore to waste Strip Ratio:  0.6:1

Leach recovery HG cut off 0.0147 oz Au/t:  67%

Leach recovery LG cut off 0.0147 oz Au/t:  45%

Saleable gold:  608,000 ounces

See news release dated January 18, 2012 for complete details.

• The Company announced that it has discovered potash in a well near Medicine Hat on its 100% owned 984,000 acre South Block of its Alberta Potash Project.  The first well was completed and drilling yielded potash grades up to 31.1% K2O over 0.3 metres as well as 2.62% over 22.35 metres and 8.77% over 2.65 metres.  Low grades of MgO indicate that sylvite is the major potash mineral rather than carnallite.

Brian Testo, President & CEO, commented “…These results confirm the presence of potash on the property and we look forward to future drilling and development of a potential potash resource in Alberta, ranked as one of the top mining jurisdictions in the world by the Fraser Institute, and with a highly advantageous tax and royalty regime, which should have a positive impact on the future economics of an Alberta based potash development.”

• Results have been received for 6 holes drilled in the Motherlode area, yielding a new gold discovery with the intersection of 1.56 g/t Au and 11.12 g/t Ag over 19 m core length with a high grade zone of 17.15 g/t Au and 41.7 g/t Ag across 1.5 m.
• Wide low grade bulk tonnage style gold-silver-polymetallic mineralization has been intersected in the vicinity of the historic Greyhound open pit mine.
• The historic Motherlode underground and open pit mine produced close to 175,000 ozs Au, 700,000 ozs Ag and 77 million pounds of Cu at an average grade of 1.27 g/t Au, 5.04 g/t Ag and 0.82% Cu from a skarn between 1900 and 1962.  The new Au-Ag zone has been discovered approximately 900 m north of the historic Motherlode open pit.
• Results have been received for the last four holes drilled at the Dayton area in 2011 and have yielded a wide, bulk tonnage style, low grade Au-Cu zone of mineralization.  Drill hole 11DA13 yielded 0.10 g/t Au and 0.04% Cu over 315.71 m with a higher grade zone of 0.24 g/t Au and 0.1% Cu over 37 m.
• Grizzly expects to commence further drilling at the Motherlode area as well as drilling at the Overlander and P5 targets in the Golden Crown-Phoenix area towards the end of January or early February.

• Grizzly announced that a drill rig was mobilized on November 28th to complete a test well on the South Block of the Company’s 100% owned Alberta Potash Project near Medicine Hat, Alberta.  Drilling commenced on November 29th and is proceeding to core point at approximately 1,650 m below surface.  Once the well is completed and the core  is forwarded to the Saskatchewan Research Council in Saskatoon, Sask., geochemical results are expected to be released early 2012.
• The first well on the 50:50 owned Provost Permits was completed in mid-November and results are expected sometime early January 2012.
• On the Dayton target, the 2nd drill hole has yielded a wide, bulk tonnage style, low grade gold-copper zone of mineralization grading 0.14 g/t Au and 0.03% Cu over 121.5 m of core length and mineralization starts at surface. The style of mineralization and alteration is in line with intrusion related porphyry style Au-Cu deposits.
• The drill has been moved to the Motherlode area and commenced a 4-6 hole exploration program.  Once complete, the drill will be moved to one or more targets at the Overlander and/or Ket 28 areas.  Drilling is expected to continue to about mid-December with the plan to drill a total of approximately 4,000 m.  These assay results are anticipated to be released in mid to late January 2012.

Results from the first hole in the 2011 program has yielded mineralization grading 0.25 g/t gold and 0.07% copper over 117 metres core length.   A higher grade zone of 0.43 g/t Au and 0.15% Cu over 51 m exists at the top of the zone.  Drilling wrapped up at the Dayton area mid November and results for holes 11DA10 to 11DA14 are pending and expected soon.

“With less than two weeks of exploration, our geological team has made a significant discovery that we interpret as an extensive Carlin-style gold mineralized zone (the Gold Rush Zone) that remains open,” said Goldstrike President Reimar Koch. The team has taken virgin ground on several properties from project generation through to a drill-ready stage in a very short period of time. The Gold Rush Zone has strong potential to be a company builder. I look forward to reporting the remaining assays outstanding on Plateau North among many other projects, and the planned drill program, with much anticipation.”

Here are dates and headlines of recent  news on the Company:

Nov 15/11:  Goldstrike Identifies Drill Target on Oliver Gold Property

Nov 9/11:  Goldstrike Discovers Drill Ready Gold Zones at Livingstone

Nov 7/11:  Goldstrike Discovers Visible Gold Grading 4.65 ounces per ton (159.5 g/t) on Yellow Giant

Nov 2/11:  Goldstrike Discovers 5.3 g/t Gold in Outcrop on New 4 KM Gold Trend

Oct 31/11:  Goldstrike Finds 18.56 g/t Gold in New 11 KM Gold Trend

Sep 13/11:  Goldstrike Discovers Carlin-Style Gold Mineralization in Yukon

Sep 1/11:  Goldstrike Discovers Intrusive Related Gold Mineralization in Yukon

Within the Region and underlying the 50:50 Provost Property lies the potash-bearing Patience Lake Member of the Prairie Evaporite formation.  The Patience Potash Member is anticipated to range from three to ten metres thick, at depths of 1,300 to 1,450 metres.  It is anticipated that drilling of the exploratory well at the 50:50 Provost Property will require approximately 7 to 10 days to complete and geophysically log.

Once the drilling on Dayton is completed, the drill will be moved to targets at the Ket 28, Motherlode and Overlander areas.  Drilling will continue into early December with the plan to drill a total of 4,000 to 5,000 m.

Assay results for the current drilling campaign are expected in early December through January.