GZD Grizzly Discoveries Inc

Grizzly Discoveries Inc. (TSX VENTURE: GZD) (OTCQX: GZDIF) (FRANKFURT: G6H) ("Grizzly" or the "Company") is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with Mr. Stephen Smart, an individual residing in Brazil. Mr. Smart will provide investor relations services to the Company, including communicating with prospective shareholders to increase awareness of and interest in the Company.

Mr. Smart is a corporate finance consultant whose primary business involves introducing clients to investment opportunities. Mr. Smart is a shareholder of the Company.

In consideration of the services provided, the Company will issue to Mr. Smart options (the "Options") to acquire up to 500,000 common shares of the Company (each, a "Common Share") at an exercise price of $0.75 per Common Share pursuant to the terms of the Company's stock option plan (the "Plan"). The Options shall vest in equal quarterly installments during the first year of the term and shall expire five years from issuance or earlier in accordance with the Plan. The issuance of the Options is subject to the approval of the TSX Venture Exchange.

The Agreement is effective for a period of 12 months commencing August 23, 2011 and is subject to the approval of the TSX Venture Exchange.

About Grizzly Discoveries Inc.

Grizzly trades on the TSX Venture Exchange under the symbol GZD, on the OTCQX exchange under the symbol GZDIF, and the Frankfurt Exchange under the symbol G6H, with 48,350,268 common shares issued and outstanding.

Grizzly is an aggressive 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 2.4 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.

On behalf of the Board

Grizzly Discoveries Inc.

Brian Testo, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Grizzly Discoveries Inc. Brian Testo President (780) 693-2242 www.grizzlydiscoveries.com IR PRO COMMUNICATIONS Nancy Massicotte Investor Relations 604-507-3377 or Toll Free: 1-866-503-3377 ir@grizzlydiscoveries.com www.irprocommunications.com