Grizzly Diamonds Ltd.
TSX VENTURE : GZD
FRANKFURT : G6H

Grizzly Diamonds Ltd.

January 25, 2008 15:27 ET

Grizzly Diamonds Remembers the Life of Brian Elkow

EDMONTON, ALBERTA--(Marketwire - Jan. 25, 2008) - Grizzly Diamonds Ltd. (TSX VENTURE:GZD) (FRANKFURT:G6H) would like to inform you on the sad news of the passing of one of Grizzly's founding shareholders and director, Brian Elkow. On Tuesday morning, January 15, 2008, Brian Elkow of Whitecourt, Alberta passed away peacefully at the age of 66 years.

Brian was a founding director and one of the driving forces behind Grizzly Diamonds. He was a strong believer and supporter for Grizzly from the inception as well as Alberta diamonds. He will be remembered for his many accomplishments, his stewardship and his help with all facets of the workings of Grizzly Diamonds.

"We are extremely saddened by the loss of Brian," says Grizzly President and CEO Brian Testo. "I loved him as my older brother, surrogate father, mentor, and as a friend."

Brian was a born entrepreneur. As a teenager, he entered the workforce as a banker. This was just the beginning of Brian's impact on the business world. He was the first to own a Kentucky Fried Chicken franchise in Whitecourt. In addition, he was a hotelier for forty years. Brian was also actively involved in the community. His most recent accomplishment was establishing the mobile renal dialysis unit in Whitecourt and Hinton.

Brian was also actively involved in the community. His most recent accomplishment was establishing the mobile renal dialysis unit in Whitecourt and Hinton. Brian was predeceased by his wife, Georgina in September of 2006. He will always be loved and never forgotten by his daughters: Tanya (Shannon) Ramstead of Whitecourt and Shelley (Trevor) Pacholok of Kelowna, BC; his adored grandson, Reese; precious granddaughter, Roan; numerous aunts, uncles and friends. Predeceased by his parents, Pearl and Michael; sisters, Lillian and Noreen.

On behalf of the Board

Grizzly Diamonds Ltd.

Brian Testo, President

This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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