SOURCE: Grizzly Gold Corp

May 22, 2013 13:48 ET

Grizzly Gold Announces Commencement of BLM Permitting Process for 2013 Phase 2 Drilling

RENO, NV--(Marketwired - May 22, 2013) - Grizzly Gold Corp (OTCBB: GRZG) ("Grizzly") is pleased to announce the commencement of the BLM permitting process for the 2013 Phase 2 drilling of up to 10 holes as a follow-up to the 2012 Phase 1 drilling results, additional claim staking, and a gradient array IP survey on its Fox Spring Project in Humboldt County Nevada.

A gradient array IP survey conducted on the Fox Spring Project area by Zonge International was completed in March 2013. The survey covered approximately 1200 acres mostly covered by alluvium in the southern half of the Fox Spring Project area where previous drilling demonstrated significant gold mineralization associated with pyrite.

"The IP survey shows very strong and distinct anomalous areas that are likely near surface mineralized zones similar to our best drill hole in the 2012 first phase of drilling," said Grizzly Gold Corp President and CEO Paul Strobel. "The Phase 2 drilling program is designed to target the best of the IP anomalies in the area of Phase 1 hole LBV DH 3 which contained .30g/t gold at the bottom of the hole."

Fox Spring Project
Grizzly has an option to acquire 100% of the rights to the mining interest of the LB/Vixen property located in Humboldt County, Nevada in 2011, which originally consisted of 30 unpatented claims. Grizzly has since staked 100 additional claims in the vicinity of the LB Vixen claim group that now collectively comprises Grizzly's Fox Spring Project of 130 contiguous claims including the LB Vixen property. 

About Grizzly Gold

Grizzly Gold Corp is a US based exploration company focusing on advancing development on its gold projects in the Nevada area. Grizzly Gold is a publicly traded company on the OTCBB.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.

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