SOURCE: Grizzly Gold Corp.
RENO, NV--(Marketwire - Oct 25, 2012) - Grizzly Gold Corp. (OTCBB: GRZG) is pleased to announce the beginning of its drill program on the LB Vixen property.
Grizzly Gold has identified four proposed drill sites. All drill sites are planned to be high angle reverse circulation holes from 600 feet to 800 feet in length. All four drill sites are either on pre-existing roads or roads built by Grizzly in late 2011.
"We are entering into a very exciting time here at Grizzly," said Grizzly Gold president Paul Strobel. "This initial drilling phase is a big step forward for the LB Vixen's development. Once drilling is completed, results will be submitted for analysis."
Grizzly Gold is also pleased to announce the closing of a private placement of 250,000 shares for $1.00 per share for a total offering price of $250,000.
This round of fundraising ensures that capital is in place to complete the initial drilling phase on 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.