GZDIF Grizzly Discoveries Inc (QB)

Grizzly Discoveries Inc. (TSX VENTURE: GZD)(OTCQX: GZDIF)(FRANKFURT: G6H) ("Grizzly" or the "Company") is pleased to announce that the TSX Venture Exchange has approved the Company's application to extend the expiry date of 5,363,333 outstanding common share purchase warrants of the Company (see the Company's news release dated June 20, 2011).

Pursuant to this approval, holders of an aggregate of 5,363,333 warrants to purchase common shares of Grizzly issued on July 5, 2010 and July 14, 2010 will have the right to exercise their warrants for one additional year to July 5, 2012. The exercise prices of the amended warrants remain unchanged at $0.50 for 3,963,333 of the amended warrants and $ 0.60 for 1,400,000 of the amended warrants. The original terms of the amended warrants are described in Grizzly's news releases dated July 5, 2010 and July 14, 2010.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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 48,315,268 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

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.

Contacts: IR PRO COMMUNICATIONS Nancy Massicotte Investor Relations 604-507-3377 or Toll Free: 1-866-503-3377 ir@grizzlydiscoveries.com www.irprocommunications.com Grizzly Discoveries Inc. Brian Testo President (780) 693-2242 (780) 439-7308 (FAX) www.grizzlydiscoveries.com