GZD Grizzly Discoveries Inc

Grizzly Discoveries Inc. (TSX VENTURE:GZD)(OTCQX:GZDIF)(FRANKFURT:G6H)
("Grizzly" or the "Company"), today announces that it has entered into an
agreement with Northern Securities Inc. to act as agent (the "Agent") for a best
efforts private placement of units ("Units") and flow-through units
("Flow-Through Units") of the Company (the "Offering"). 


The Offering will consist of up to $1,000,000 in Units at a price of $0.12, and
up to $4,000,000 in Flow-Through Units at a price of $0.165, subject to minimum
gross proceeds of $1,000,000 in any combination of Units and Flow-Through Units.
Each Unit will consist of one common share and one common share purchase warrant
(each whole warrant, a "Warrant"). Each Flow-Through Unit will consist of one
common share and one half of a Warrant. Each Warrant shall be exercisable for a
12 month period from the date of issue at a price of $0.18.


In connection with the Offering, the Company will pay the Agent a cash
commission of 7.0% of the aggregate gross proceeds of the Offering and will
issue to the Agent a number of broker warrants ("Broker Warrants") equal to 7.0%
of the aggregate number of Units and Flow-Through Units sold pursuant to the
Offering. Each Broker Warrant will be exercisable into one Unit at the Unit
issue price for a period of 24 months from closing of the Offering. The Company
has also agreed to pay the Agent's reasonable legal costs and a due diligence
fee of $25,000 plus HST upon closing of the Offering.


The Offering is subject to the approval of the TSX Venture Exchange. All
securities issued in the Offering will be subject to a hold period of four
months and one day pursuant to applicable securities laws.


The net proceeds from the Offering will be used by the Company for exploration
of its prospective potash properties in Alberta, exploration of its prospective
precious metals properties in British Columbia, and working capital and general
corporate purposes. 


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 48,725,268 common shares issued and outstanding.


Grizzly is an aggressive and diversified Canadian mineral exploration company
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

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities laws. This information
and statements address future activities, events, plans, developments and
projections. All statements, other than statements of historical fact,
constitute forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently identified by words
such as "may," "will," "should," "anticipate," "plan," "expect," "believe,"
"estimate," "intend" and similar terminology, and reflect assumptions,
estimates, opinions and analysis made by management of Grizzly in light of its
experience, current conditions, expectations of future developments and other
factors which it believes to be reasonable and relevant. Forward-looking
information and statements involve known and unknown risks and uncertainties
that may cause Grizzly's actual results, performance and achievements to differ
materially from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed thereon.


Risks and uncertainties that may cause actual results to vary include but are
not limited to the availability of financing; the ability to satisfy the
conditions of closing of the Offering; fluctuations in commodity prices; changes
to and compliance with applicable laws and regulations, including environmental
laws and obtaining requisite permits; political, economic and other risks; as
well as other risks and uncertainties which are more fully described in our
annual and quarterly Management's Discussion and Analysis and in other filings
made by us with Canadian securities regulatory authorities and available at
www.sedar.com. Grizzly disclaims any obligation to update or revise any
forward-looking information or statements except as may be required by law.

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