Edmonton, Alberta--(Newsfile Corp. - July 30, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that assay results have been received from ALS Global Limited ("ALS") for the core drilling program conducted in late April to mid-May, 2026 to follow up excellent prior results from both surface sampling, historical drilling, magnetic surveys and the recent induced polarization (IP) results at the Sappho Critical Minerals Target (Figure 1).

A total of seven (7) core holes for a total 1,485 metres (m) were completed targeting the near surface Main Sappho Skarn Target and an associated near surface IP conductivity. The skarn mineralization is also coincident with a number of magnetic anomalies and is characterized by the results of the 2010 core hole 10SP03 (Table 1) for copper-gold-silver-platinum group elements (Cu-Au-Ag-PGE). APEX Geoscience Ltd. ("APEX") reports that all seven 2026 core holes intersected highly anomalous polymetallic mineralization with Cu-Au-Ag-cobalt (Co)-nickel (Ni)-zinc (Zn)-PGE's (Table 1). The intervals with significant anomalous Cu-Au-Ag-Ni-Co-Zn-PGEs are most often characterized by garnet-pyroxene skarn with significant alteration including epidote-sericite-chlorite-pyrite-chalcopyrite. Some precious metal enriched zones are associated with serpentinite in fault zones in contact with skarn mineralization.

The Main Sappho Skarn Target is immediately adjacent to the recently identified Sappho IP chargeability anomaly. A total of 7 lines of IP for 10.1 line-kms were completed during the 2026 surveys at Sappho outlining a significant IP chargeability anomaly. It is interpreted that the strong chargeability anomaly likely represents disseminated sulphide related to a porphyry target. This anomaly was not targeted in the current drill program. The Company is currently in the process of permitting additional drillhole pads to complete drill testing of the Sappho IP chargeability target later in the year. Further IP work, geological mapping and surface sampling centered on the target are planned prior to the commencement of drilling.

Highlights

• A total of 7 core holes and 1,485 m completed at the Sappho Skarn Target Area (Figures 2 to 5).
• Anomalous Cu-Au-Ag-Ni-Co-Zn-PGEs intersected in all 7 core holes with multiple zones in most of the holes associated with garnet-pyroxene-magnetite skarn and the presence of pyrite and chalcopyrite (Figures 2 to 5).
• Most of the core holes intersected a shallow Cu-rich skarn zone and a deeper Cu-Au-Ag-Ni-Zn-PGE-rich skarn often in contact with a serpentinite/breccia fault zone or an altered diorite intrusion at the base of the skarn enriched with precious metals.
• Example weighted average grades: 0.17% CuEq* over 9.4 m starting at 12.4 m in hole 26SPDD002, followed by 0.357% CuEq* over 44.55 m starting at 69.0 m with an average grade of 0.111% Cu, 152 parts per billion (ppb) Au, 51 ppb Pt and 51 ppb Pd over the interval (Table 1; Figures 2 to 5).
• Hole 26SPDD005 yields 0.14% CuEq* over 26.00 m starting at 8 m downhole, with a lower zone of 1.0% CuEq* starting at 79.22 m with 0.255% Cu, 0.057% Ni, 498 ppb Au, 6 g/t Ag, 119 ppb Pt and 60 ppb Pd over 13.68 m (Table 1; Figures 2 to 5).
• Accompanying widespread and often intense alteration consists of chlorite-epidote+/-sericite+/-k-feldspar along with a number of spatially associated diorite, quartz diorite to monzonite intrusions. The level of alteration outlines a significant and robust hydrothermal system and plumbing in the target area, along with complex multiple events of intrusive activity.
• The Main Skarn Area of alteration and mineralization is on the order of 250 m x 350 m at surface (Figures 6 to 9) and is roughly about 250 to 300 m northwest of the large IP chargeability anomaly identified in the 2026 IP surveys to date (See Company news release dated July 6^th, 2026).
• A number of discreet magnetic anomalies were identified in the 2022 ground magnetic survey and were tested with drilling during the 2026 campaign. Most of the positive magnetic anomalies yielded skarn with magnetite or a mafic unit with magnetite (Figures 1 and 3).

Figure 1: Sappho Geology, Rock & Soil Sampling 2026 with IP Lines and Planned Drillhole Locations.

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• The northwest contact of the IP Chargeability Anomaly is coincident with soils anomalous in Cu and Au much like the Sappho Skarn area. This contact is likely a sympathetic fault to the northeast trend of the Toroda Graben faults (Figures 6 to 9).
• The Geological Setting is the East Fault Contact of the Toroda Graben with numerous pyroxenite-monzonite-diorite (older - Jurassic) and younger quartz-feldspar porphyry (QFP)-diorite (Tertiary) intrusions into sediments and intermediate-mafic volcanics along with a complex magnetic feature at the Sappho Main Skarn Target area (Figures 1 and 3).
• The East and West Faults of the Toroda Graben likely played a role in controlling the Au-Ag mineralization for the Buckhorn Skarn and Mine to the southwest and the Cu-Au-Ag mineralization for the Motherlode/Greyhound skarns to the north (Figure 10).
• Widespread Skarn and porphyry style alteration and mineralization along with highly anomalous Cu-Ni-Co-Zn-PGE's-Au-Ag are observed in outcrop and drill core along with a complex magnetic signature in the Main Sappho Skarn area (Figures 1 and 6 to 9).
• Drilling seems to show a shallow sequence of sediments, volcanics, skarn, serpentinite with intrusions grading into a deep zone of mostly intrusions in the Main Sappho Skarn area. The base of the sediments and volcanics seems to be the area with the best mineralization in the skarn area and based upon the evident faulting and shearing may correspond to an underlying thrust fault.
• Five (5) new sulphide showings were discovered during 2022 field work, with 4 of the 5 showings yielding rock grab samples with >1% copper (Cu) up to as high as 7.25% Cu (Figure 1 and see Company news release dated November 3^rd, 2022).
• Historical rock grab sampling has returned numerous samples with values >1% Cu up to 9.06% Cu, many also with anomalous Co, Ni, Zn, Au, Ag, Pt and Pd.
• A total of 11 historical samples have yielded >500 ppb Pt and Pd up to 4.64 g/t Pt and 2.28 g/t Pd.
• The Walcott 2026 IP Survey has detected a new significant deeper chargeability anomaly on the southeast part of the grid - likely up against one of the Main Sappho faults (Figures 1 and 6 to 9). The chargeability anomaly is not closed off and is on the order of 30 to greater than 100 millivolts per volt and is comparable in size and intensity with a number of porphyry targets that have yielded new porphyry discoveries in BC recently.
• The Chargeability Anomaly and porphyry target appears to be gaining in strength and size approaching the USA Border. The Company has staked a total of 35 Bureau of Land Management (BLM) lode mineral claims in Washington State covering the potential southern extent of the anomaly in the USA.

Brian "Griz" Testo, President & CEO of Grizzly Discoveries, states: "The excellent new drilling results along with anomalous ground magnetics and now IP has outlined multiple and significant new targets across the Sappho Project. I am excited to see what the next phase of drilling might show us - Grizzly will continue to refine these targets to the drill ready stage for additional drilling in the next couple of months and I look forward identifying some new discoveries."

Table 1: Summary Assay Results for 2026 Drill Holes at the Main Sappho Skarn Target Area.

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*True widths are unknown at this stage of exploration, so all lengths are core length. For CuEq* calculation the price of metals utilized is as follows in US$ Cu $5/lb, Au $3,200/oz, Ag $50/oz, Co $25/lb, Ni $7/lb, Zn $1.5/lb, Pt $1,200/oz and Pd $1,200/oz with assumed recoveries of 90% as no metallurgical work has been completed to determine the metallurgical characteristics of the mineralization. No inference is being made with respect to recovery and economics of any of the metals listed, as the calculation of CuEq* is being used strictly to allow comparisons of varied polymetallic mineralization between drillholes across the property.

Figure 2: Sappho 2010 (Red) and 2026 (Blue) Core Hole Locations in Plan.

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Figure 3: Sappho Magnetic Survey with 2010 and 2026 Core Holes in Plan.

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Figure 4: Sappho Geological Cross Section For 26SPDD005 Showing Cu and Au.

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Figure 5: Sappho Geological Cross Section For 10SP03 and 26SPDD006 Showing Cu and Au.

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Figure 6: Sappho IP Chargeability Anomaly Orthogonal View - Voxel Model 2026 Survey Results.

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Figure 7: Sappho Magnetics, Chargeability & Resistivity Anomalies with Cu in rocks and soils.

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Figure 8: Sappho Magnetics, Chargeability & Resistivity Anomalies with Au in rocks and soils.

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Figure 9: Sappho 3D IP Chargeability Voxel Model Showing Extent of Anomaly and Peripheral Skarn Target Drillholes with Magnetic Susceptibility.

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The Sappho area is being targeted for copper-gold skarn and porphyry type targets associated with a Jurassic alkalic intrusive complex and several younger diorite intrusions (Figure 1). A total of five new showings of copper oxide mineralization were found during the 2022 program (Figure 1). Previous surface sampling and drilling by Grizzly has yielded significant anomalous copper, gold, silver along with platinum and palladium. Numerous historical and new rock grab samples have yielded greater than 1% Cu, 1 g/t Au, 1 g/t Ag, 1 g/t Pt and 1 g/t Pd (Figure 1).

Historical 2010 drilling by the Company (4 core holes) yielded up to 0.31% Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho (in hole 10SP03), including a 1 m core length intersections of 3.82 g/t Au and 199 g/t Ag, and in a separate sample 1.83 g/t Pt and 2.09 g/t Pd across 1 m - these results all are associated with >1% Cu in those samples. These higher-grade zones were contained within a 75 m core length zone logged as a pyroxene - sulphide skarn with a grade approaching 0.53% CuEq* derived from current metal prices for Cu, Au, Ag, Co, Ni, Zn, Pt and Pd. Drillhole 10SP03 targeted a magnetic anomaly and had no indications of surface mineralization at the time of drilling. One of the new 2022 showings has been found proximal to drillhole 10SP03 and the targeted magnetic anomaly.

The Company is continuing with surface exploration in the Greenwood area. Crews from APEX completed trenching and rock sampling in June at the Midway Mine area, as well as some follow-up sampling at the Sappho Chargeability Target area. The 2026 exploration work is ongoing and includes prospecting and rock sampling at targets in the Motherlode area, the Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area and surrounding the Sappho (Figure 10). Additional groundwork including ground geophysical surveys are being planned and will comprise IP, magnetics and Loupe electromagnetics (EM) for the Sappho, the Midway and Motherlode areas (Figure 10). Drillhole and rock sampling results from the 2026 work are pending and will be released as they are received.

Figure 10: Exploration Targets 2026.

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ASSAY METHODOLOGY & QUALITY CONTROL (QA/QC)

The analytical work on the Sappho Project drilling was performed by the ALS Global Limited in Kamloops and North Vancouver, an internationally recognized analytical service provider. All core samples were prepared using ALS procedure PREP-31A (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method PGM-ICP27 (30g fire assay with ICP finish for Au, Pt and Pd) and ME-ICP61a (0.5g, four acid digestion and ICP-AES/MS analysis) for multielements. Any samples containing >10g/t Au are reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn are reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Rock samples were analysed using Au-ICP21 (30g fire assay with ICP-AES finish) and multielements using ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis).

The reported work has been completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standards, blanks and duplicates into the sample stream by APEX personnel. The ALS geochemical laboratory data was provided directly to APEX and the QP and has been verified by the QP.

QUALIFIED PERSON ("QP") STATEMENT

The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is a non-independent Qualified Person ("QP)" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and critical minerals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

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.

Caution concerning forward-looking information

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 forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified 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 differ materially from those expressed or implied by the 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 www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

Table 2: Collars for the 2026 Drill Holes at the Main Sappho Skarn Target Area.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307264

Source: Grizzly Discoveries Inc.