Grizzly Discoveries Inc. - Greenwood Property

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			Greenwood Property
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The Greenwood Property is located in south central British Columbia. The southern part of the property is located between Grand Forks and Midway, B.C. The Property covers an area of approximately 235,000 acres (88,140 hectares) and is centered at latitude 49° 7' 34" N and longitude 118° 44' 2" W.

The entire project area is easily road accessible from both Greenwood and Grand Forks. The project area is host to or surrounds a number of historic mines and mineral occurrences including most notably the historic Motherlode, Sunset and Greyhound underground and open pit gold-silver-copper mines and the Copper Mountain copper-silver-gold showings. The historic Motherlode mines produced in excess of 178,000 ounces (oz) of gold (Au), 723,000 oz of silver (Ag) and 80 million pounds of copper (Cu) between 1900 and 1962. In addition, the project area surrounds and is immediately adjacent to Merit Mining Corp.'s recently commissioned Lexington-Grenoble copper-gold mine and its Greenwood Mill, and is less than 7 km northwest of Kinross Gold Corporation's recently commissioned Buckhorn Mountain Gold Mine.

Ket 28 Prospect:

Three follow-up holes totalling 693 m were drilled in 2010 to test the depth and plunge of gold mineralization at the Ket 28 property. Drilling here in late 2009 yielded up to 11.9 g/t Au over 2.0 m and 2.77 g/t Au over 11.0 m in separate drill holes associated with late stage brecciation, pyrite and quartz veins in mafic volcanic and sediments. All three follow-up drill holes intersected sulphide mineralization spatially associated with zones of brecciation, quartz veins and hornfels type alteration. Drill hole 10KT02 yielded a wide low grade gold zone with 0.21 g/t Au over 111.5 m core length with a higher grade zone of 1.19 g/t Au over 10.35 m core length and a highest grade sample of 6.98 g/t Au over 1.35 m. Further drilling is being planned to track the Ket 28 gold zone down plunge to the northwest.

Dayton Prospect:

Soil sampling by crews from APEX Geoscience Ltd. during 2010 located a high priority gold-in-soil target that is 400 m long by 200 m wide with 50 samples that assay between 50 and 272 parts per billion (ppb) gold. A total of 939.5 m in 8 drill holes were completed along two east-west oriented transects 200 m apart, across the soil anomaly that produced a new discovery of widespread copper-gold mineralization at the Dayton Target area.

Copper Mountain Prospects:

Three follow-up holes were drilled at the Prince of Wales discovery along with two follow-up drill holes at the Mable Jenny North showing for a total of 760.5 m at the Copper Mountain property in 2010. Drilling in summer 2010 at the Prince of Wales target yielded a new gold discovery with an intersection of 1.0 g/t Au across 30 m core length in drill hole 10CM07. Gold mineralization is associated with a wide zone of pyrite and arsenophyrite in a siliceous biotite hornfels. Extensive zones of sulphide bearing siliceous biotite hornfels were intersected in the three follow-up holes drilled during the most recent drilling campaign.
At the Mable Jenny North target, several narrow 0.5 to 1.5 m intersections of near massive sulphide were intersected within much wider zones of sulphide bearing siliceous biotite hornfels. The best intersection encountered yielded 1.1 g/t Au, 2.12 g/t Ag and 0.08% Cu across 7.07 m core length.

Sappho Prospect:

This property hosts a large 500 x 800 m magnetic anomaly indicative of alkalic intrusive complex with assays of selective rock grab samples yielding up to 8.28% Cu, 75.3 g/t Ag, 0.64 g/t Au and 27.1 g/t Pt. A total of 640 m in 4 drill holes were completed at the Sappho prospect during the Stage 1 summer 2010 reconnaissance drilling campaign and drilling results confirmed the mineralization identified at surface, which included results of 0.11 g/t Pt and 0.025% Cu across 12.0 m core length.

2011 Immediate and Future Work

An aggressive Stage 1 field exploration program is underway, including extensive ground geophysical surveys comprised of an induced polarization ("IP") survey conducted by Peter E. Walcott & Associates Ltd. of Vancouver, B.C.. Horizontal loop electromagnetic ("HLEM") survey, Promis electromagnetic ("EM") survey, and magnetometer survey. In addition, prospecting, rock and soil sampling, along with geological mapping, are underway at a number of existing targets including Copper Mountain, Ket 28, and the Dayton area. New targets identified by detailed analysis of the 2008 and 2009 airborne geophysical surveys are also being developed. The focus of the 2011 exploration program is to identify drill targets that are similar in nature to Kinross's Buckhorn Gold Skarn Deposit and Midway's Golden Eagle Epithermal Gold Deposit located in the State of Washington, each of which are reported to contain indicated resources of more than one million ounces of gold.

To date, approximately 1,600 soil and rock samples have been collected and have been shipped to ALS Chemex in Vancouver, B.C. for analysis. More than 70 line-km of IP surveys (over a minimum of 9 previously identified targets) and more than 20 line-km of HLEM and Promis EM surveys have also been completed. The planned ground work is budgeted at $1.0 million and will continue into late July or early August.

Upon completing interpretation of data from the Stage 1 program, drill targets will be selected, prioritized and land use applications for drilling will be submitted. The Company plans to commence drilling in late summer or early fall 2011 and has allocated a minimum budget of $1.2 million on 5,000 metres of drilling at Greenwood in 2011.

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