Grizzly Diamonds Ltd.

Grizzly Diamonds Ltd.

January 06, 2005 17:44 ET

Grizzly Diamonds Ltd. Announces Grant of Stock Options


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GRIZZLY DIAMONDS LTD.

TSX VENTURE SYMBOL: GZD

JANUARY 6, 2005 - 17:44 ET

Grizzly Diamonds Ltd. Announces Grant of Stock Options

EDMONTON, ALBERTA--(CCNMatthews - Jan. 6, 2005) - Grizzly Diamonds Ltd.
(TSX VENTURE:GZD) ("Grizzly") today announced that subject to regulatory
approval, the Board of Directors has approved the grant of stock options
pursuant to Grizzly's Stock Option Plan to acquire an aggregate of up to
725,000 common shares of Grizzly ("Common Shares"), of which options to
acquire an aggregate of 600,000 Common Shares will be granted to
directors and officers of Grizzly. The options will have an exercise
price of $ 0.35 per share and will expire five years from the date of
the grant.

Grizzly Diamonds Ltd. is an aggressive Canadian exploration company
focused on exploring for diamonds in Alberta and precious metals in
North America. It currently has three diamond properties in the Buffalo
Head Hills area of Alberta totaling approximately 835,000 acres, which
host prospective diamond indicator minerals.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Grizzly Diamonds Ltd.
    Norman Eaton
    CFO
    (780) 435-0045
    (780) 989-0322 (FAX)
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.