Overview

Listed in 2005, Grizzly Discoveries (CVE:GZD) is a Canadian exploration company focused on: exploring for potash in Alberta; world class gold and base metal deposits in British Columbia; and diamonds in Alberta.  Grizzly holds, or has an interest in, metallic and industrial mineral permits for potash totaling more than 2.34 million acres along the Alberta-Saskatchewan border.  Grizzly currently has four precious-base metal properties in British Columbia totaling over 235,000 acres.  Grizzly also currently holds more than 600,000 acres in diamond properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.

Chief Properties

Greenwood Property, BC

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The Greenwood property is located in south-central British Columbia and is easily accessible by road from Grand Forks or Greenwood. The property covers about 235,000 acres. The region is well known for gold, with more than 7 million ounces produced. Kinross’ Buckhorn Mine – located south of the Greenwood property – has a resource of more than 1.6 million ounces of gold.

In 2010 the company completed two drill programs at the Greenwood property and discovered widespread copper and low-grade gold associated with skarn-type alteration at Ket 28 and Copper Mountain; and excellent potential for discovery of large tonnage, bulk mineable, porphyry style copper-gold deposits at the high priority Dayton area near the historic Mt. McKinney gold camp based upon the presence of widespread copper-gold mineralization

Currently an aggressive Stage 1 field exploration program is underway with an approximate 1,600 soil and rock samples collected and shipped to ALS Chemex in Vancouver, BC for analysis.  Upon completing interpretation of data from the Stage 1 program, drill targets will be selected, prioritized and land use applications for drilling will be submitted with drilling anticipated to commence in late summer or early fall 2011.  A minimum budget of $1.2 million on 5,000 metres of drilling at Greenwood is planned for 2011.

Potash, Alberta

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Grizzly has acquired more than 2.43 million acres along the Alberta-border Saskatchewan, and area recognized for potash production.  The Company currently has a 100% interest in approximately 1.88 million acres in two major blocks, with the North block centered about the towns of Lloydminster and Provost and the South block Northeast of Medicine Hat.  Grizzly holds 50% interest in an additional 458,000 acres in 21 metallic and industrial mineral permits centered on the town of Provost along the Alberta-Saskatchewan border.  The Company’s entire potash land holding is underlain by the potash-bearing Prairie Evaporite Formation.  The property is road accessible and can be explored year-round.

The Company has engaged a seismic data expert to acquire and interpret seismic data.  Once seismic data is available and interpreted, a series of drill collars will be selected leading to the commencement of land use applications for drilling.  The Company will then engage a drilling contractor with the intent to commence drilling in September or October of 2011.

Diamond Projects, Alberta

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Grizzly’s Buffalo Head Hills properties cover more than 600,000 acres and are located about 330km northwest of Edmonton. 41 kimberlites pipes have been discovered to-date, of which 29 are diamondiferous, and seven are wholly owned by Grizzly. The area has yielded promising results.  Ashton Mining of Canada Inc. recently reported that a 22.8 tonne mini-bulk sample collected from the K252 Kimberlite yielded a grade of 55 carats per tonne. The K252 Kimberlite is located 21 km north of Grizzly’s Smokey Bear property.

In 2008 Grizzly completed a drill program at their Smokey Bear Property where a total of 965.5 m was drilled in 5 drill holes (BE-01 to BE-05).  Drilling yielded 316 diamonds from 519 kg in BE-02, and 218 diamonds from 365 kg in BE-03.  Both pipes require further bulk sampling.

To date, a number of diamond indicator minerals have been recovered from limited sampling of glacial outwash gravel, recent fluvial gravel and till on all three of Grizzly’s Buffalo Head Hills diamond properties.

Management

Brian Testo – President, Chief Executive Officer, Director
Mr. Testo is an Alberta-based businessman who has been involved in mineral exploration in the province of Alberta for over 25 years. He is the president of Grizzly Gold Inc. which has held diamond leases since 1986 and formed joint ventures with companies such as Shear Minerals Ltd., Blue Diamond Mining Corporation, and Birch Mountain Resources Ltd. He is also the president of Grizzly Gold & Gravel Inc. which operates a gravel pit in Peers, Alberta.

Ben Hubert, BSc, MSc, MBA – Director
Ben Hubert brings a diverse range of experience to the board. He has enjoyed a successful career as a self-employed consultant focusing on the interrelationships between the environment, community and resource-based industries throughout Canada. Mr. Hubert has significant experience with mineral exploration projects conducted in remote and frontier areas, and serves on the board of directors of San Gold Corp. Mr. Hubert is the company’s audit committee chairman.

Douglas S. Turnbull, H.B.Sc., P. Geol. – Director
Douglas Turnbull is a consulting geologist and President of Lakehead Geological Services Inc. based in Vancouver B.C. and has been actively involved in diamond, precious and base metal exploration since 1983. Mr. Turnbull holds an Honours Bachelor of Science degree in Geology from Lakehead University and is a Qualified Professional Geoscientist recognized by the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Turnbull’s previous working and consulting experience includes Monopros Ltd., Goldfields Mining Corporation, Prime Exploration Ltd., Adrian Resources Ltd., Madison Enterprises Corp. and Oromin Explorations Ltd. Mr. Turnbull was part of exploration teams responsible for the exploration and development of the Eskay Creek Gold Deposit in British Columbia, Canada, the Petaquilla Cu-Au Porphyry Deposit in Panama, Mt. Kare Gold Deposit in Papua New Guinea and the OJVG Gold Deposits in Senegal. Currently Mr. Turnbull also serves as a director on the boards of Oromin Exploration Ltd., Salmon River Resources Ltd. and Astur Gold Corp.

Dr. Solomon (Sam) Pillersdorf – Director
Dr. Pillersdorf has been involved in the mining sector for over ten years, including funding start-up mining companies and sourcing and funding resource claims. He is currently on the advisory committee of a TSX Venture Exchange listed junior resource company, having previously served on its Board of Directors. Dr. Pillersdorf is Head of Rheumatology Outpatients and Head of Rheumatology training at the McMaster University Medical Centre.

Sean Mager, B.Com. – Director
Mr. Mager is a graduate of the University of Alberta School of Business and has spent fifteen years in private and public management and consulting, including six years in Canada’s Northwest Territories. His northern experience includes serving as COO for an aboriginal investment corporation and as the lead Financial Management Analyst for the industry portfolio of the territorial government. From 1998 to 2000, Mr. Mager was the VP Corporate Development for a TSXV-listed logistics firm serving northern mining clients such as BHP’s Ekati diamond mine and Cumberland Resources’ Meadowbank gold project. Since 2000, he has applied his expertise in corporate and northern affairs to the development and governance of junior mining and mineral exploration companies.

Fraser Atkinson, C.A., Director
Mr. Atkinson is a Chartered Accountant and has been a director and officer of a number of public companies.  He is a Director and Chairman of Rara Terra Capital Corp., has served as CFO of Versatile Systems, Inc. and was President of Prospex Capital Corp., a company involved in providing financing for mining and exploration companies.

Jeremy Strautman, Interim CFO
Mr. Strautman graduated from the Northern Alberta Institute of Technology’s Bilingual Business Administration-Accounting Program in 2004.  He has been involved in accounting and administration for the junior mineral exploration industry since 2005.

Michael Dufresne, M.Sc., P.Geol. – Consultant (APEX Geoscience Ltd.)
Mr. Dufresne is a partner with APEX Geoscience Ltd., a consulting company that has been operational for several years. His practical experience includes diamond, gold (placer and lode) and base metal exploration programs in Alberta, B.C., Yukon, Nunavut, Quebec, the NWT and internationally on behalf of industry and in conjunction with the Alberta Geological Survey and Department of Indian Affairs and Northern Development in the Yukon. Mr. Dufresne was first author of “Diamond Potential of Alberta” Alberta Geological Society Bulletin 63. APEX Geoscience Ltd. has been recognized with the discovery of kimberlites in Torngat, Quebec (39 reported kimberlite dykes) as well as the Kendu kimberlite, Alberta, the NIC2 kimberlite, the NWT, and the Aviat and Churchill kimberlites in Nunavut.

Greg Molyneus, Corporate Finance UK, Europe and Middle East
Mr. Molyneux is a financial services professional with expertise in the UK, Eastern Med, Middle East and Africa and brings the ability to diversify the shareholder base outside of North America.