Business Overview

Grizzly Discoveries Ltd. is an aggressive Alberta-based exploration company focused on gold-silver in British Columbia and diamonds and potash in Alberta. Grizzly holds four gold-silver properties totaling over 210,000 acres In British Columbia. It currently holds 3 diamond properties in northern Alberta totaling approximately 1 million acres which host diamondiferous kimberlites. Grizzly currently holds approximately 1.43 million acres in 3 discreet potash properties located along the Saskatchewan-Alberta border.

Investment Highlights

The return for investors in successful diamond and precious metal exploration companies is very high. Grizzly’s precious metals projects in B.C. are located near current or historic metal producers, including the Peak Property, which has geological similarities to the high-grade Eskay Creek polymetallic silver-gold deposit and the Greenwood Property, adjacent to Merit Mining’s Golden Crown mine, which has recently started up gold-copper production.In Alberta over 49 kimberlites have been discovered to date of which 28 are diamondiferous. The discoveries in the Buffalo Head Hills, where most of the Grizzly properties are located, have yielded the highest diamond counts.

·Quality Exploration Projects focused on Gold, Silver, and Diamonds

·Properties located in favorable mining regimes and close to infrastructure

·Excellent Share structure and well funded

·Corporate and Technical Expertise

·Aggressive Exploration plans for 2008 including drilling on TWO projects

Grizzly’s BC Precious-Base Metal Projects

Greenwood Gold Project:

162,000 acres acres in the Greenwood mining District in B.C. The property is road accessible, hosts a number of historic mineral occurrences, including, most notably, the Ket 28 gold showing, and is less than 7 km northwest of Kinross Gold Corp.'s recently commissioned Buckhorn Mountain gold mine.

During 2008 a sampling program yielded up to 25.59 g/t in rock samples and up to 27 visible grains of of gold in heavy mineral stream samples. Aggressive fieldwork and drilling program is currently underway.

Peak Property near Smithers, North-Central BC:

The Peak Property is located 65 km northeast of the town of Smithers, BC.

The 2008 drilling program continued to prove that the mineralization system at the Peak Property is quite large and is expressed in a variety of styles of mineralization. Holes from the 2008 drill program have intersected extensive mineralized heterolithic breccia at thicknesses ranging from 18 m to 123 m in drill core and with a demonstrated lateral extent of approximately 700 m from southwest to northeast and is open along strike.

Potash Properties, Saskatchewan-Alberta border:

During 2008, Grizzly acquired roughly 1.47 million acres of Permits prospective for Potash. A large portion of Grizzly’s potash permits exist in close proximity to or directly contain areas reported to be underlain by potash bearing beds within the uppermost portion of the Prairie Evaporite Fm.The presence of potash beds within the upper portion of the Prairie Evaporite in east-central Alberta near and along the Saskatchewan border is indicated by geological maps produced by the Alberta and Saskatchewan governments. In addition, a number of Grizzly’s permits exist in close proximity to a reported occurrence of potash minerals (sylvite) in a deep well (VCO #15) in the Vermilion area of east-central Alberta.A compilation of potash occurrences and possible gamma spike (possible indicative of potash) indicates the region is prospective for Potash. Grizzly is planning seismic work followed by drilling to test for potash during 2008 and 2009.

Grizzly’s Alberta Diamond Projects:

Grizzly is the largest landholder for diamonds in Alberta.A $1.5 Million 2007-2008 exploration program has yielded two new diamondiferous kimberlites along with a number of targets that Grizzly will be drilling for years to come.A budget of $500,000 has been approved for the fall of 2008, which has already yielded a 3rd kimberlite discovery, in order to continue drilling in the area of the BE-02 Kimberlite.The BE-02 Kimberlite yielded 54 microdiamonds from 56.6kg.

Buffalo Head Hills (BHH) Diamond Properties, North Central Alberta

2007-2008 Exploration Highlights: HRAM magnetic surveys, ground geophysics surveys, sampling and drill testing has led to the discovery of three new kimberlites in the Buffalo Head Hills, two of which are diamondiferous with the results for the third pending.

·A 42,000 line-km HRAM magnetic survey has yielded numerous untested magnetic targets fro future ground surveys and drilling.

·43 ground magnetic surveys completed over 44 prospective magnetic anomalies identified from previous HRAM surveys has yielded a number of drill targets.

·A total of 1,568 m in 9 holes during 2008 has yielded the discovery of 3 new kimberlites, 2 of which are diamondiferous and the results for the 3^rdare pending.

·Anomalous HMC samples collected in the western Buffalo Head Hills by the AGS with abundant high interest diamond indicator minerals (some with kelyphite rims), have been confirmed by follow-up sampling on Grizzly lands by APEX.

·A number of untested magnetic and EM targets identified on the Smokey The Bear, Bearpaw, Kodiak, Grand Cub Aidan and Preston Upon Wolverine properties are ready for drill testing during 2008 and 2009.

Legend Diamond Property, Northeast Alberta

Nine kimberlites known, two of which are weakly diamond bearing, some beneath thin cover. The Legend Kimberlite is a 500 to 800m diameter multiphase low-grade diamondiferous kimberlite which may have similarities to the Fort a la Corne kimberlites in Saskatchewan.The Legend Kimberlite is beneath 12.9 m of overburden. Legend Camp Target will be drill tested sometime in the future.

PelicanMountain Region, North Central Alberta: The Call of the Wild Property is host to pyrope beach sands dominated by G10 pyrope garnets. The property has been optioned to Stornoway Diamonds Corp.Stornoway has recently completed a 25,000 line-km fixed-wing magnetic survey along with ground geophysics and is currently evaluating the data along with diamond indicator samples collected during late 2006.

Acquisition of 120,000 acres in the Greenwood Mining District. During 2008, a 2,300 line-km helicopter-borne magnetic-EM survey along with stream heavy mineral and rock sampling at Greenwood. A 1,000 m drilling program in progress at the Peak Property.

Management Bios

Brian Testo, President, CEO, Director -Mr. Testo is an Alberta-based businessman who has been involved mineral exploration in the Alberta for over 15 years.

Douglas S. Turnbull, P. Geol., Director -Mr. Turnbull is a consulting geologist and based in Vancouver B.C. and has been actively involved in diamond, precious and base metal exploration since 1983.

Dr. Solomon (Sam) Pillersdorf, Director-Dr. Pillersdorf has been involved in the mining sector for over 10 years, including funding start-up mining companies and sourcing and funding resource claims. Dr. Pillersdorf is Head of Rheumatology Outpatients and Head of Rheumatology training at the McMaster University Medical Center

Sean Mager, Chief Financial Officer -Mr. Mager is a graduate of the University of Alberta School of Business and has spent fifteen years in private and public management and consulting is also currently Vice President, CFO, and Director of Committee Bay Resources Ltd. and the CFO and Director of Brilliant Mining Corp.

Michael Dufresne, M.Sc., P.Geol., Consultant -Mr. Dufresne is a partner with APEX Geoscience Ltd., an established geological consulting company. His experience includes diamond, gold and base metal exploration in Alberta, B.C., Nunavut, NWT and Australia.

Share Structure as of August 20, 2009

Shares I/O: 22,943,970
Current Price: $0.38
52-week Hi/Lo:$0.92/$0.255
No debt.

Contact Info

www.grizzlydiscoveries.com
Tel: 780-425-BEAR (2327)
Fax: 780-433-1336
Contact: Brian Testo, President Direct: (780) 693-2242