Grizzly Discoveries Inc. Closes Second Tranche of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Grizzly Discoveries Inc. (TSX VENTURE:GZD) (OTCQX:GZDIF) (FRANKFURT:G6H) (the
"Corporation", or "Grizzly") is pleased to announce that it has closed the
second and final tranche of a brokered private placement (the "Offering"),
originally announced on March 16, 2011 and subsequently amended as described in
the Corporation's news release dated March 31, 2011, of an additional 1,200,000
units of the Corporation (each, a "Non-FT Unit") and 1,919,642 flow-through
units of the Corporation (each, an "FT Unit") for aggregate gross proceeds of
$1,675,000.


Each Non-FT Unit, at a price of $0.50 per Non-FT Unit, consisted of one common
share of the Corporation ("Common Share") and one half of one non-transferable
Common Share purchase warrant (each whole warrant, a "Non-FT Unit Warrant").
Each Non-FT Unit Warrant entitles the holder to acquire one additional Common
Share at an exercise price of $0.75 per Common Share. Each FT Unit, at a price
of $0.56 per FT Unit, consisted of one Common Share issued as a "flow-through
share" pursuant to the Income Tax Act (Canada) and one-half of one
non-transferable Common Share purchase warrant (each whole warrant, an "FT Unit
Warrant"). Each FT Unit Warrant entitles the holder to acquire one additional
non-flow-through Common Share at an exercise price of $0.85 per Common Share.
The Non-FT Unit Warrants and the FT Unit Warrants expire on the earlier of: (a)
30 days following the issuance of a news release by the Corporation that the
volume-weighted average trading price of the Common Shares on the TSX Venture
Exchange (the "Exchange") is at or greater than $1.00 per Common Share for 10
consecutive trading days; and (b) October 21, 2012.


Pursuant to an agency agreement dated April 18, 2011 between the Corporation and
D&D Securities Inc. (the "Agent"), the Corporation paid an Agent's fee of
$117,250, representing 7% of the gross proceeds in the second tranche of the
Offering, and issued 311,964 non-transferable Common Share purchase warrants
(each, a "Broker Warrant"). Each Broker Warrant entitles the Agent to acquire
one additional Common Share at an exercise price of $0.75 per Common Share until
the earlier of: (a) 30 days following the issuance of a news release by the
Corporation that the volume-weighted average trading price of the Common Shares
on the Exchange is at or greater than $1.00 per Common Share for 10 consecutive
trading days; and (b) October 21, 2012. The Corporation also paid additional
reasonable expenses of the Agent totaling $4,162.55.


The Non-FT Units and the FT Units (collectively, the "Units") were sold to
qualified purchasers in reliance upon exemptions from the prospectus and
registration requirements of applicable securities legislation. The Common
Shares and Common Shares issuable upon exercise of the Non-FT Unit Warrants, the
FT Unit Warrants, and the Broker Warrants, are subject to a restricted trading
period ending on August 22, 2011.


The proceeds from the sale of FT Units will be used to incur expenditures which
qualify as Canadian Exploration Expenses on the Corporation's exploration
mineral properties in Alberta and British Columbia. The net proceeds from the
sale of the Non-FT Units will be used for exploration on the Corporation's
exploration mineral properties and for general working capital.


About Grizzly Discoveries Inc. 

Grizzly trades on the TSX Venture Exchange under the symbol GZD, on the OTCQX
exchange under the symbol GZDIF, and the Frankfurt Exchange under the symbol
G6H, with 47,982,492 common shares issued and outstanding.


Grizzly is an aggressive Canadian exploration company focused on: exploring for
potash in Alberta; world class gold and base metal deposits in British Columbia;
and diamonds in Alberta. Grizzly holds, or has an interest in, metallic and
industrial mineral permits for potash totaling more than 2.34 million acres
along the Alberta-Saskatchewan border. Grizzly currently has four precious-base
metal properties in British Columbia totaling over 235,000 acres. Grizzly also
currently holds more than 600,000 acres in diamond properties which host
diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of
Alberta.


On behalf of the Board

Grizzly Discoveries Inc.

Brian Testo, President & Chief Executive Officer

For further information, please visit our website at
http://www.grizzlydiscoveries.com or contact Investor Relations.