Edmonton, Alberta--(Newsfile Corp. - July 6, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce preliminary results from the Phase 2 Induced Polarization (IP) program, conducted in April 2026 to follow up excellent prior results from both surface sampling, historical drilling and Phase 1 IP results, at the Sappho Critical Minerals Target (Figure 1). A total of seven lines of IP for 10.1 line-kms were completed between the Phase 1 and Phase 2 surveys at Sappho outlining and extending a significant chargeability anomaly identified in the Phase 1 work. It is interpreted that a strong chargeability anomaly likely represents disseminated sulphide that is likely associated with an intrusion related porphyry target near Greenwood, British Columbia (BC).
The Company is currently in the process of permitting additional drillhole pads to complete drill testing of the chargeability target later in the year. Further IP work, geological mapping and surface sampling centered on the target are planned and in progress prior to the commencement of additional drilling.
A total of seven core holes for a total 1,485 m were completed in late April — to mid-May targeting the near surface Sappho Skarn Target looking for copper-gold-silver-platinum group elements (Cu-Au-Ag-PGEs). The Sappho Skarn Target is immediately adjacent to the chargeability anomaly. Samples from the seven core holes have all been collected and submitted to ALS Global in Kamloops and Vancouver. Results will be announced once received, verified, and interpreted.
Highlights
Phase 2 Sappho IP results extend the chargeability anomaly up to 600 m south and 800 m east and is open in both directions (Figures 2 and 3).
The core of the IP chargeability anomaly ranges from 30 mV/V up to 105+ mV/V in intensity, and in several instances is coincident with a strong resistivity anomaly or in some cases a weak conductivity anomaly (Figures 2 and 3).
Along the west edge of the chargeability anomaly, there is moderate to strong anomalism with copper and gold in soils and in rocks (Figures 4 and 5).
The Sappho Skarn Zone itself is peripheral to the strong chargeability anomaly (Figure 6).
The northwest contact of the chargeability anomaly, coincident with the associated anomalous Sappho soils, is a graben edge sympathetic fault to the northeast trend of the Toroda Graben faults which host numerous pyroxenite-monzonite-diorite (older - Jurassic) and younger quartz-feldspar porphyry (QFP)-diorite (Tertiary) intrusions into intermediate-mafic volcanics along with a complex magnetic feature at the Sappho Main Skarn Target area (Figure 1).
The 2026 IP Survey has detected a new significant deeper chargeability anomaly on the southeast part of the grid - likely up against one of the main Sappho faults (Figures 1 to 6). The chargeability anomaly is not closed off and is on the order of 30 to greater than 100 mV/V and is comparable in size and intensity with a number of porphyry targets that have yielded new porphyry discoveries across BC recently.
The chargeability anomaly and porphyry target appears to be gaining in strength approaching the USA Border. As a result, the Company has staked a total of 35 Bureau of Land Management lode mineral claims in Washington State covering the potential southern extent of the anomaly.