Grizzly Discoveries Inc.

Grizzly Discoveries Inc.

March 29, 2011 15:07 ET

Grizzly Appoints Mr. Fraser Atkinson to the Board of Directors

EDMONTON, ALBERTA--(Marketwire - March 11, 2011) - Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) (OTCQX:GZDIF) ("Grizzly" or the "Company") is pleased to announce that Mr. Fraser Atkinson, CA, has been appointed to the Company's Board of Directors, subject to the approval of the TSX Venture Exchange. Mr. Atkinson brings extensive experience to the Board.

Mr. Atkinson has been a director and officer of a number of public companies. He is a Director and Chairman of the Board of Rara Terra Capital Corp., a capital pool company listed on the TSX Venture Exchange, since December, 2009. He has served as CFO of Versatile Systems Inc., a public company listed on the Toronto Stock Exchange ("TSX") and the Alternative Investment Market on the London Stock Exchange that provides technology services, since February, 2003 and as a director since November, 2003. Mr. Atkinson has been a director and Chairman of the audit committee of Equus Total Return, Inc., a closed end fund which trades on the New York Stock Exchange, since May, 2010. In addition, Mr. Atkinson was a director of Calyx Bio-Ventures Inc., a biotechnology company listed on the TSX, from July, 2008 to December, 2009, and a director of Moventis Capital Inc., a financing company trading on the Pink Sheets, from February, 2006 to November, 2008. From October, 2002 to December, 2005, he served as President of Prospex Capital Corp., a company involved in providing financing for mining and exploration companies. In addition, Mr. Atkinson was involved in both technology and corporate finance as a partner at KPMG, LLP for over 14 years, until September, 2002. Mr. Atkinson obtained a Bachelor of Commerce from the University of British Columbia in 1980 and his designation as a Chartered Accountant from the Institute of Chartered Accountants of British Columbia in 1982.

In connection with Mr. Atkinson's appointment, the Board of Directors has authorized a grant of 200,000 stock options under the Company's stock option plan with an exercise price of $0.47, vesting upon issuance (the "Options").

The appointment of Mr. Atkinson to the Board of Directors and the issuance of the Options are subject to the approval of the TSX Venture Exchange.

About Grizzly Discoveries Inc.

Grizzly is an aggressive Canadian exploration company focused on exploring for world class gold and base metal deposits in British Columbia, and for diamonds and potash in Alberta. In British Columbia, Grizzly currently has four precious-base metal properties totaling over 235,000 acres. It currently holds more than 600,000 acres in diamond properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta. Grizzly has also acquired metallic and industrial mineral permits for potash totaling more than 2.43 million acres along the Saskatchewan-Alberta border.

Grizzly trades on the TSX Venture Exchange under the symbol GZD, with 34,254,636 Common Shares issued and outstanding.

On behalf of the Board

Grizzly Discoveries Inc.

Brian Testo, President & CEO

For further information, please visit our website at or contact Investor Relations.

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

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