Grizzly Diamonds Ltd.

Grizzly Diamonds Ltd.

March 20, 2009 11:48 ET

Grizzly Appoints New Director

EDMONTON, ALBERTA--(Marketwire - March 20, 2009) - Grizzly Diamonds Ltd. (TSX VENTURE:GZD) (FRANKFURT:G6H) ("Grizzly") today is pleased to announce the appointment of Sean Mager to the Board of Directors and Audit Committee, following the resignation of Pamela Strand. Brian Testo and the Board of Grizzly would like to thank Ms. Strand for her contributions as a Director and welcome her to the Advisory Committee.

Mr. Mager has served as Chief Financial Officer of Grizzly since January 3, 2006. He has a Bachelor of Commerce (1989) from the University of Alberta and twenty years of management experience. In addition to his roles with Grizzly, Mr. Mager also serves as Vice President, Director and/or Chief Financial Officer for CBR Gold Corp, Brilliant Mining Corp, Cedar Mountain Exploration Inc, Corsa Capital Ltd, and Kaminak Gold Corporation, all of which are listed on the TSXV.

With his appointment to the Board, Grizzly has granted Mr. Mager incentive stock options to acquire 150,000 common shares at an exercise price of $0.45, expiring March 20, 2014. The appointment and grant of options are subject to acceptance by the TSXV.

Grizzly Diamonds is an aggressive Canadian exploration company focused on exploring for diamonds and industrial minerals in Alberta and precious metals in North America. It currently holds more than 2 million acres in diamond properties that host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains. It currently holds metallic minerals permits for Potash totaling more 1.5 million acres along the Saskatchewan-Alberta border. In British Columbia, the Company has five precious-base metal properties totaling over 150,000 acres. All 2009 field programs are being conducted under the supervision of Michael Dufresne, P. Geol., a principal of APEX Geoscience Ltd. and a Qualified Person under NI 43-101.

Grizzly trades on the TSX Venture Exchange, trading symbol GZD, with 20,571,625 shares issued to date.

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.

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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