Renewed Interest in Diamond Exploration Prompts Reevaluation of Grizzly's Dormant Alberta Diamond Project; Company Stakes

Renewed Interest in Diamond Exploration Prompts Reevaluation of Grizzly's 
Dormant Alberta Diamond Project; Company Stakes Additional
Claims in Buffalo Head Hills 
EDMONTON, ALBERTA -- (Marketwired) -- 06/10/14 --   Grizzly
("Grizzly" or the "Company") is pleased to announce that it has
acquired additional permits (the "New Permits") for its Alberta
Diamonds Project by staking 34,496 hectares (85,241 acres) of highly
prospective lands for diamond-bearing kimberlites in the Buffalo Head
Hills area of North-central Alberta. These additional claims add to
the 57,529 hectares (142,157 acres) already held by the Company's
Alberta Diamond Project in the Buffalo Head Hills area. The Company's
Alberta Diamond Project hosts at least 7 kimberlites, to date 3 of
which have been identified with microdiamonds. 
Subsequent to staking the New Permits, the Company's Alberta Diamond
Project now covers 92,025 hectares (227,399 acres) of the Buffalo
Head Hills kimberlite field, for which Grizzly has the exclusive
rights to explore for metallic and industrial minerals. The Alberta
Diamond Project permits are in good standing until dates ranging from
late 2014 to 2027, subject to biannual assessment work. Grizzly has
conducted exploration in the Buffalo Head Hills kimberlite field
since 1997 completing numerous geophysical and heavy-mineral
indicator surveys, and discovering three new diamondiferous
kimberlite bodies in 2008 and 2009, bringing the total number of
kimberlites within Grizzly's Buffalo Head Hills kimberlite
field-hosted Alberta Diamond Project to seven.  
Grizzly's Alberta Diamond Project lies within the Buffalo Head Hills
kimberlite field, which is located approximately 35 to 45 kilometers
northwest of the Hamlet of Red Earth Creek, Alberta, and
approximately 330 kilometers northwest of Edmonton, Alberta. 41
kimberlites have been discovered by various parties in the Buffalo
Head Hills kimberlite field, an area of approximately 2,500 square
kilometres representing the third largest known district of
significant diamond-bearing kimberlites in Canada after Lac de Gras,
Northwest Territories and Fort a la Corne, Saskatchewan. The
diamondiferous Buffalo Head Hills kimberlite field has generated
exploration interest due to the relatively large kimberlite
dimensions (up to 45 hectares), encouraging diamond contents (up to
55 carats per hundred tonnes with the presence of some colored
diamonds), and high ratio of diamondiferous to barren kimberlite (28
of 41 kimberlites tested contain diamonds). The Buffalo Head Hills
Joint Venture (unrelated to the Company), comprised of Canterra
Minerals Corporation (33%), Shore Gold Inc. (33%) and Encana
Corporation (34%) currently hold five kimberlite bodies in the field
which have undergone mini-bulk and bulk sampling (between 22 and 616
tonnes): kimberlites K6, K11, K14, K91 and K252. 
The potential for discovery of additional diamondiferous kimberlites
within Grizzly's Buffalo Head Hills properties is considered high
based upon the favourable regional geological setting and the
positive results of exploration conducted to date by Grizzly.
Grizzly's geological consultants, APEX Geoscience Ltd. of Edmonton,
Alberta, have recommended that, subject to financing, Grizzly proceed
with exploration on two fronts. First, bulk sample the BE-2 and BE-3
kimberlites discovered by the Company in 2008, which returned close
to 1 microdiamond per kilogram during the 2008 drilling campaign.
Second, proceed to drill test the numerous high priority targets that
Grizzly has identified in the region in order to continue the search
for new diamondiferous kimberlites. Particularly, Grizzly will focus
on kimberlites with a weak magnetic signature, which have tended to
yield better diamond counts in the Buffalo Head Hills kimberlite
Based on these recommendations, Grizzly has staked its new lands in
the vicinity of the Buffalo Head Hills Joint Venture's K6, K11, K14,
K91 and K252 kimberlites and plans to conduct new detailed ground
geophysical surveys, combined with the acquisition of detailed lidar
and airborne orthophoto data, in the search for new kimberlites in
the vicinity of what are considered to be the best kimberlites yet
discovered in the Buffalo Head Hills kimberlite field.  
The Company has not conducted significant exploration work on its
Alberta Diamond Project since the kimberlite discoveries in 2008,
however has maintained in good standing the permits covering the
discovered kimberlites and identified targets deemed to be of the
highest prospectivity. In addition to the encouraging exploration
results obtained by the Company and by other unrelated parties which
have conducted exploration in the area, the Buffalo Head Hills region
contains infrastructure, utilities, skilled labour, roads and access
that would potentially be required to economically develop a diamond
Grizzly is evaluating strategies for the renewal exploration at its
Alberta Diamond Project, which was the Company's initial project
during its initial public offering in 2004 (under the name Grizzly
Diamonds Ltd.). This has been prompted by the renewed interest in
diamond exploration by a number of companies across Canada,
indicating a resurgence in market sentiment towards diamond
exploration. The Company will consider both undertaking its own drill
program, as well as pursuing the possibilities of joint ventures on
its Buffalo Head Hills properties. Grizzly is actively seeking equity
funding and/or joint venture partners to invest in further diamond
exploration at its Alberta Diamond Project in the Buffalo Head Hills
Grizzly is a diversified Canadian mineral exploration company with
its primary listing on the TSX Venture Exchange with 48.7 million
shares issued, focused on developing significant Potash assets in
Alberta and its precious metals properties in southeastern British
Columbia. The Company holds, or has an interest in: metallic and
industrial mineral permits for potash totaling more than 900,000
acres along the Alberta-Saskatchewan border; over 235,000 acres of
precious-base metal properties in British Columbia; and more than
200,000 acres in properties which host diamondiferous kimberlites in
the Buffalo Head Hills and Birch Mountains of Alberta.  
The content of this news release and the Company's technical
disclosure has been reviewed and approved by Michael B. Dufresne, M.
Sc., P. Geol., who is the Qualified Person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects. 
On behalf of the Board 
Grizzly Discoveries Inc. 
Brian Testo, President 
(780) 693-2242 
For further information, please visit our website at 
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(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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This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
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by words such as "may," "will," "should," "anticipate," "plan,"
"expect," "believe," "estimate," "intend" and similar terminology,
and reflect assumptions, estimates, opinions and analysis made by
management of Grizzly in light of its experience, current conditions,
expectations of future developments and other factors which it
believes to be reasonable and relevant. Forward-looking information
and statements involve known and unknown risks and uncertainties that
may cause Grizzly's actual results, performance and achievements to
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forward-looking information and statements and accordingly, undue
reliance should not be placed thereon. 
Risks and uncertainties that may cause actual results to vary include
but are not limited to the availability of financing; fluctuations in
commodity prices; changes to and compliance with applicable laws and
regulations, including environmental laws and obtaining requisite
permits; political, economic and other risks; as well as other risks
and uncertainties which are more fully described in our annual and
quarterly Management's Discussion and Analysis and in other filings
made by us with Canadian securities regulatory authorities and
available at Grizzly disclaims any obligation to
update or revise any forward-looking information or statements except
as may be required by law. 
Investor Relations:
Nancy Massicotte
604-507-3377 or Toll Free: 1-866-503-3377
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