Grizzly Discoveries Inc. Increases Greenwood Property Exploration Budget and Closes Second Tranche of Private Placement

Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) announced that the Board of Directors has approved an increase to the planned exploration program budget for the 2010 season for Grizzly’s Greenwood Gold Project of up to $2.0 million.

The press release is quoted as saying:

The increased exploration budget will be utilized to conduct aggressive ground exploration in the search for new drill targets and to increase the drilling program from about 1,200 m to approximately 3,500 m. Drilling commenced during late June at the Copper Mountain and Sappho target areas (See GZD news releases dated May10, 2010 and October 14, 2009). Other targets at the Motherlode area, Dayton area and at Ket 28 are currently being evaluated for future drilling.

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