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Grizzly Discoveries Inc. (TSXV: GZD,OTC:GZDIF) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that preliminary results for a Phase 2 sampling program conducted in June 2026 to follow up trenching conducted at the Midway Precious Metals and Critical Minerals Target and Induced Polarization ("IP") chargeability results at the Sappho Critical Minerals Target (Figure 1).
Highlights
- Significant Gold and Silver from chip samples in a trench extending the Main Midway Mine trend with up to 22.8 grams per tonne (g/t or ppm) gold (Au) and up to 1,120 g/t silver (Ag) (Figures 2 and 3; Table 1).
- Additional samples in trenches immediately east of the Main Midway Mine with up to 1.7 g/t Au and to the southwest with up to 2.7 g/t Au. Drilling is set to test these anomalous samples and the historical Midway Mine this fall, 2026 (Figures 2 and 3; Table 1).
- The Midway area is a window into the Paleozoic - Triassic rocks through the Toroda Graben and Tertiary volcanics that fill the graben.
- Follow up sampling in the vicinity of the Sappho Chargeability Anomaly identified in early to mid 2026 (See Company News Release dated July 6, 2026) has yielded 4.73 g/t Au from quartz float at the headwaters of Norwegian Creek but coincident with the northeast edge of the anomaly (Figure 4).
- Host rocks in the area are mapped as late Paleozoic to Early Triassic metasedimentary rocks including carbonates and calcareous shales. A number of dykes, stocks and large intrusions are mapped in the area and likely range from Jurassic to Cretaceous to Eocene in age.
- 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 the sedimentary package and the overlying younger intermediate-mafic volcanics.
- 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 in the Greenwood area (Figure 1).
- Permitting of drill locations to test the Sappho Chargeability Anomaly is underway. The Company is planning to complete an initial drill test this fall, 2026.
The Company is currently in the process of permitting additional drillhole pads to complete drill testing of a number of the chargeability targets during a fall drilling program at the Motherlode Critical Minerals Target area along with potentially the Sappho Critical Minerals Target area and the Midway Precious Metals - Critical Minerals Target area. Further IP work, geological mapping and surface sampling centered on several of the targets is planned prior to the commencement of drilling.
Figure 1: Midway and Sappho Target Areas 2026.
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Figure 2: Midway Mine area Plan View Geology - Summary Rock & Soil Results.
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Figure 3: Main Midway Vein Structure and Mineralization.
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Brian "Griz" Testo, President & CEO of Grizzly Discoveries, states: "Trenching during June 2026 has extended the known surface extent of the Main Midway vein structure and mineralization pictured in Figure 3. New samples have yielded significant gold and silver and the Grizzly team is excited to see what drilling might show us at both the historical Midway Mine and the Sappho Chargeability Target - we will continue to refine these targets to the drill ready stage for drilling in the next couple of months and look forward to identifying and presenting some new discoveries for the shareholders of Grizzly."
Table 1: Midway Mine and Sappho Rock Sampling 2026 - Summary Results.
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Ongoing Exploration
The 2026 exploration work was suspended in July and August during high fire season but has recommenced and will be ongoing through the fall 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 at the Sappho area (Figure 1). 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 1). Additional drilling is planned from October to December. Results as they become available from the 2026 work will be released as they are received.
Figure 4: Sappho Chargeability Anomaly Plan View - Recent Rock Sample Results.
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Summary of the Midway Mine Area
- At Midway, selective rock grab and composite rock grab samples collected during 2022 from outcrop at the Midway Mine-Picturestone area, yielded a range of 12.05 g/t or 0.351 ounces per ton (opt) Au up to 70.8 g/t (2.065 opt) Au (See Company news release dated October17, 2022 and Figure 5 below).
- Three (3) of the 7 selective rock grab samples from the Midway Mine yielded from 1,360 g/t Ag (39.7 opt) up to 2,140 g/t Ag (62.4 opt) (see Company news release dated October 17, 2022).
- Two new showings identified in 2023 near the historical Midway Mine including up to 5.64 g/t Au (0.165 opt) from a showing 400 m to the north of Midway and up to 4.19 g/t Au (0.122 opt) from a grab sample collected about 375 m to the west of the Midway Mine.
- At least 6 new areas with anomalous gold (> 100 ppb), copper (>200 ppm) and silver in soils have been identified at Midway in work conducted between 2022 and 2024.
- The Midway area is being targeted for copper-gold skarn and epithermal gold-silver.
- All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature.
- A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 opt) and 1,530 g/t Ag (44.6 opt), illustrating that there is potential for additional high-grade mineralization in the area.
Figure 5: Midway geology and showings with gold in soils and rocks.
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ASSAY METHODOLOGY & QUALITY CONTROL (QA/QC)
The analytical work on the Greenwood Critical Minerals Project was performed by the ALS Global Limited in Kamloops and North Vancouver, an internationally recognized analytical service provider. All core and rock 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 multi-elements. 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 analyzed using Au-ICP21 (30g fire assay with ICP-AES finish) and multi-elements 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 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 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,
Grizzly Discoveries Inc.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-315-1455
Email: nancy@grizzlydiscoveries.com
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.
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