Grizzly Discoveries Inc.
TSX VENTURE : GZD
FRANKFURT : G6H

Grizzly Discoveries Inc.

November 25, 2010 11:37 ET

Grizzly Discoveries Announces Private Placement

EDMONTON, ALBERTA--(Marketwire - Nov. 25, 2010) - Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) (the "Corporation") announces a non-brokered private placement of flow through units ("FT Units") at a price of $0.35 per FT Unit and non-flow through units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of up to $1,000,000 (the "Offering").

Each FT Unit will consist of one common share of the Corporation ("Common Share") to be issued as a "flow-through share" pursuant to the Income Tax Act (Canada) and one non-transferable Common Share purchase warrant ("FT Unit Warrant") entitling the holder to acquire one additional non-flow through Common Share at a price of $0.60. Each Non-FT Unit will consist of one Common Share and one non-transferable Common Share purchase warrant ("Non-FT Unit Warrant") entitling the holder to acquire one additional Common Share at a price of $0.50. The FT Unit Warrants and the Non-FT Unit Warrants expire on the earlier of: (a) 30 days following the issuance of a news release by the Corporation that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than $0.80 per Common Share for 10 consecutive trading days; and (b) 12 months from the date of issuance.

The proceeds of the Offering will be used to conduct exploration on the Company's Greenwood Gold Project and for general working capital. 

The FT Units and Units will be subject to resale restrictions and may not be resold until four months and a day after the closing date of the Offering. The Offering is subject to regulatory approvals.

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 industrial minerals 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 1.8 million acres along the Saskatchewan-Alberta border.

Grizzly trades on the TSX Venture Exchange under the symbol GZD, with 31,410,302 Common Shares issued and outstanding.

On behalf of the Board

Grizzly Discoveries Inc.

Brian Testo, President

For further information, please visit our website at http://www.grizzlydiscoveries.com 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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