#1GRIZZLY DISCOVERIES INC. EXPLORING FOR PRECIOUS AND BATTERY METALS IN BRITISH COLUMBIA, CANADA TSXV: GZD | OTCQB: GZDIF | FWB: G6H JUNE 2023#2FORWARD LOOKING STATEMENTS ■ THIS PRESENTATION CONTAINS CERTAIN "FORWARD-LOOKING STATEMENTS". SUCH FORWARD-LOOKING STATEMENTS INCLUDE, WITHOUT LIMITATION: ESTIMATES OF FUTURE CAPITAL EXPENDITURES; - ESTIMATES OF RESOURCES AND STATEMENTS REGARDING FUTURE EXPLORATION RESULTS, TIMING AND AMOUNT OF ESTIMATED FUTURE EXPLORATION SUCCESS OF EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES. EXPENDITURES; PERMITTING; AND REQUIREMENTS FOR ADDITIONAL CAPITAL AND ACCESS TO DATA. WHERE THE COMPANY EXPRESSES OR IMPLIES AN EXPECTATION OR BELIEF AS TO FUTURE EVENTS OR RESULTS, SUCH EXPECTATION OR BELIEF IS EXPRESSED IN GOOD FAITH AND BELIEVED TO HAVE A REASONABLE BASIS. HOWEVER, FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS, UNCERTAINTIES AND OTHER FACTORS, WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM FUTURE RESULTS EXPRESSED, PROJECTED OR IMPLIED BY SUCH FORWARD LOOKING STATEMENTS. SUCH RISKS INCLUDE, BUT ARE NOT LIMITED TO METALS PRICE VOLATILITY, CURRENCY FLUCTUATIONS, INCREASED PRODUCTION COSTS AND VARIANCES IN ORE GRADE OR RECOVERY RATES FROM THOSE ASSUMED IN MINING PLANS, AS WELL AS POLITICAL AND OPERATIONAL RISKS IN THE COUNTRIES AND STATES IN WHICH WE OPERATE OR SELL PRODUCT TO, AND GOVERNMENTAL REGULATION AND JUDICIAL OUTCOMES. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO RELEASE PUBLICLY ANY REVISIONS TO ANY "FORWARD LOOKING STATEMENT" TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE OF THIS PRESENTATION, OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS, EXCEPT AS MAY BE REQUIRED UNDER APPLICABLE SECURITIES LAWS. THE FOLLOWING PRESENTATION DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF GRIZZLY DISCOVERIES INC. IN ADDITION, CERTAIN INFORMATION PROVIDED IN THIS PRESENTATION HAS BEEN TAKEN FROM 3RD PARTY SOURCES AND 3RD PARTY REPORTS AND/OR PRESENTATIONS AND HAS NOT BEEN INDEPENDENTLY VERIFIED BY THE COMPANY. READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON SUCH INFORMATION. TSX.V: GZD | OTCQB: GZDIF | FWB: G6H 2#3THE GRIZZLY ADVANTAGE ALASKA PROVEN, PROLIFIC AND HISTORIC MINING JURISDICTION PRODUCING 7 MILLION OZ OF GOLD AND 660 MILLION LBS OF COPPER BRITISH COLUMBIA CANADA TECHNICAL TEAM PART OF MULTIPLE DISCOVERIES FOR EXAMPLE, THE PERSEVERANCE GOLD DEPOSIT WHICH WAS ADVANCED TO PRODUCTION AND THE DEPOSITS COMPRISING THE BACK RIVER GOLD DISTRICT TO BE ACQUIRED BY B2 GOLD FOR C$1.1 BILLION UNITED STATES MEXICO TSX.V: GZD | OTCQB: GZDIF | FWB: G6H PRECIOUS METAL & BATTERY METAL PROPERTIES COVERING 170,000 ACRES GREAT INFRASTRUCTURE, ROADS, POWER, WATER AND ALSO BENEFITS FROM A PROVINCIAL HIGHWAY. IN ADDITION, THE PROJECT AREA SURROUNDS THE TOWNS OF ROCK CREEK, MIDWAY AND GREENWOOD FIRST NATIONS (OIB)-SUPPORTIVE & ACTIVE PARTNER PROJECTS & TARGETS WITH NEW DISCOVERY POTENTIAL PLANNING FOR AGGRESSIVE EXPLORATION PROGRAM IN 2023 $1.5 TO $2.0 MILLION 3#4MANAGEMENT & DIRECTORS BRIAN TESTO President, CEO, Director Mr. Testo, founder of the Company, is an Alberta-based businessman who has been involved in mineral exploration and prospecting in Alberta and British Columbia for over 25 years. As the founder of Grizzly, Mr. Testo has been instrumental in assembling significant land positions hosting potential for gold, silver, copper, potash and diamond deposits, and funding its exploration programs. JIM GREIG Director JEREMY STRAUTMAN Chief Financial Officer Mr. Strautman, a graduate of the Northern Alberta Institute of Technology's Bilingual Business Administration-Accounting Program, has been involved in accounting and administration for the junior mineral exploration industry since 2005. MICHAEL DUFRESNE, M.SC., P.GEOL. P.GEO. QP & TECHNICAL LEAD Mr. Dufresne, a partner with APEX Geoscience Ltd., leads the technical team as a consultant for Grizzly Discoveries. He was part of the exploration teams responsible for the discovery of the George Lake - Goose Lake gold deposits to be acquired by B2 Gold's for $1.1B announced in February 2023. In addition, he was involved in the discovery of the Three Bluffs gold deposit in Nunavut, and the Perseverance gold deposit, mined from 2008 - 2012, Coolgardie Western Australia. DR. SOLOMON PILLERSDORF Director experience in the junior mining sector including funding start-up mining companies, as well as sourcing and funding resource claims. He is the President of Shadchen Resources Intermediaries Inc., which has facilitated the takeover of several Canadian mining resources by foreign investors. Mr. Greig holds an MBA from the University of Calgary, a BA Dr. Solomon Pillersdorf has a broad base of knowledge and from Carleton University and +20 years of experience in the resource sector including advancement of the 5 million ounce Esaase Gold Project in West Africa as a member of mine development team at Keegan Resources Inc. (now Asanko Gold). Jim is currently President and a Director of Benchmark Metals Inc. and is involved in several resource sector companies. Selected previous engagements include the Hunter-Dickinson Group (HDI), Kennecott Canada, Breakwater Resources Ltd, McIntosh Engineering and Stantec Engineering. NANCY MASSICOTTE Corporate Development Ms. Massicotte is the President of IR Pro Communications Inc. managing public company investor and public relations for over twenty-two years, working successfully in various sectors including technology, telecommunications, bio-tech, energy and mining. JO PRICE, M.Sc., MBA, P.Geo Director Ms. Price is a professional geologist registered with the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and Association of Engineers and Geoscientists of British Columbia (APEGBC). During her career, Jo has managed multi-million dollar exploration programs. She has extensive experience in field operations, drill programs, technical database administration, land management, community relations, and exploration permitting in multiple jurisdictions. TSX.V: GZD | OTCQB: GZDIF | FWB: G6H#5CAPITAL STRUCTURE SHARES O/S: 141.7 MILLION WARRANTS/OPTIONS: 34.0 MILLION SHARES FD: 174.0 MILLION TREASURY: $0.8 MILLION SHARE PRICE: $0.085 52-WEEK HIGH/LOW: $0.135/$0.07 MARKET CAP: $12 MILLION SPROTT 7% MANAGEMENT 12% FRIENDS & ASSOCIATES 19% FUNDS & RETAIL 62% TSX.V: GZD | OTCQB: GZDIF | FWB: G6H Historic Chart for Cdn:GZD by Stockwatch.com 604.687.1500 (c) 2023 Tue May 30 2023 Op=0.09 Hi=0.09 Lo=0.075 CI=0.075 Vol 7,780 Year hi=0.14 10=0.03 Cdn:GZD Volume M 2021 2022 Source Stockwatch. May, 2021 - May, 2023 2023 0.15 0.135 0.12 0.105 0.09 0.075 0.06 0.045 0.03 1.5 M 1000 k 500 k 5#6THE MINING CYCLE - RISK REWARD The Lifecycle of a Mineral Discovery Risks Funding risk Technical risk HIGH VALUE Exploration risk Discovery There is a tipping point in exploration when drilling amounts to a real mineral discovery and excitement is at its peak. We are in this Phase Speculation Initial drill results provide some insight as to what truly lays beneath but more work is necessary to define a mineable deposit. Early speculators buy into the project. This is most likely the time when people outside of the mining industry hear of a new discovery while early speculators are looking to cash in. LOW VALUE Life Cycle Digging In Junior exploration companies are typically the first on the ground proving a geology concept with surface exploration. Orphan Period After initial excitement, proven discoveries require large amounts of capital for construction-but are not yet receiving cash flows from an operating mine. Operating Mine The mine is now open, and the company can extract ore and generate cash flow. Risks still remain, such as commodity price and management risk. Institutional/Strategic Investment This is the point when experienced mine developers and financiers invest directly to develop the project into an operating mine. 4-5 years 1-2 years 2-3 years 2 years 1 years HH HH Timeline H Concept Pre-discovery Discovery Feasibility Development Startup SOURCE: JUNIOR STOCK REVIEW TSX.V: GZD | OTCQB: GZDIF | FWB: G6H Depletion 6#7GREENWOOD PROPERTIES - A RICH HISTORY OF PRODUCTION AT THE TURN OF THE 19TH CENTURY-THREE COPPER SMELTERS MADE IT THE LARGEST PRODUCING COPPER DISTRICT IN THE DOMINION Grizzly Discoveries Land Package 7 million gold oz proven and prolific district Road accessible land package Nearby infrastructure and communities Processing Plant THE DISTRICT COLLECTIVELY PRODUCED MORE THAN 7 MILLION GOLD OUNCES*AND 660 MILLION LBS OF COPPER MULTIPLE HISTORIC MINES ON THE GREENWOOD PROPERTIES INCLUDING MIDWAY, IMPERIAL, CORONATION, MOTHERLOAD, CROWN POINT Grizzly Target Expansion Drilling 3.3m at 52g/t gold 13 KM FROM KINROSS'S 1.2 MILLION OZ*** BUCKHORN GOLD MINE (1.2M OZ AU PRODUCED, AVG GRADE 13 G/T) Legend Ket 28 50KM FROM CALIBRE'S GOLDEN EAGLE PROJECT WITH 2M+ OZ GOLD RESOURCE** Kinross Buckhorn Mine 1.2 million gold oz *** 60 Km Producers & Deposits PRINCE GEORGE Greenwood Property Δ Towns Highways Calibre Golden Eagle Hecla Republic Processing Plant VANCOUVER International Border KET 28 km 10 20 TSX.V: GZD | OTCQB: GZDIF | FWB: G6H *Source: M. Dufresne, A. Banas, K. Salter. "Assessment Report for the Robocop Property, South-Eastern British Columbia," APEX Geoscience Ltd. Edmonton, AB, Tech. Rep. March. 2013. **Source: E. Chapman, T. Seal, "Golden Eagle Project, Washington State, USA", Snowden Group, Tech. Rep. July, 2009 ***Source: Kinross Gold production of gold from 2008 - 2017, Kinross Annual Reports 7#8GREENWOOD CLAIM GROUPS - ON THE ROAD TO DISCOVERY 2,900 ROCK SAMPLES Canada USA Dayto Molson Mt Mckinney Au Mine Ket 28 12,300 SOIL SAMPLES TSX.V: GZD | OTCQB: GZDIF | FWB: G6H Active Exploration 70 km Copper Mountain Prince of Wales Mabel Jeny Imperial Rock Creek Midway Bruce Chesaw Buckhorn Mine 169 HMC SAMPLES Motherlode North Marguerite Motherlode Cu-Au-Ag Mine. Greenwood Mt Attwood Target Sappho Midway +PGES Lexington Toroda GZD Gold & Silver Targets GZD Copper Targets GZD Claims GZD Silver Targets Phoenix Cu-Au-Ag Mine Greenwood Processing facility Overlander Evening Star Target Cu-Au Mine Lone Star Mine Golden Crown Mine Granby Target panele Grand Forks 2,026 LINE-KM 15,500 M IN 88 HOLES OF CORE ADVANCED OF GEOPHYSICS TARGETS DRILLING 8#9MIDWAY MINE DRILLING TARGET 2023 - HIGH GRADE POTENTIAL Historic Midway Shaft Ground TDEM Survey Massive sulphide - pyrite, arsenopyrite, galena, sphalerite, stibnite, electrum as seen below are known to be associated with gold/silver occurrences Initial exploration closely followed the acquisition in 2022 including, technologically advanced Airbourne and Ground Geophysic surveys, and Grab Samples to vector in on drilling targets for 2023. • • Grab Sample Highlights: 22SLP001-12.05 g/t Gold, 2,140 g/t Silver 22SLP005-16.1 g/t Gold, 1,460 g/t Silver • • • 22SLP006 - 70.8 g/t Gold, 565 g/t Silver 22SLP007-17.55 g/t Gold, 1,360 g/t Silver 22SLP011-15.85 g/t Gold, 1,530 g/t Silver Breccia - Vein Zone GRIZZ * Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may not be characteristic of the overall mineralization of the deposit as they are selective in nature. TSX.V: GZD | OTCQB: GZDIF | FWB: G6H 6#10IMPERIAL MINE EXPLORATION TARGET 2023 - HIGH GRADE POTENTIAL LISTWANITE ALTERATION AND SULPHIDE MINERALIZATION AS SEEN BELOW IN IMPERIAL MINE SAMPLES CAN BE SPATIALLY ASSOCIATED WITH GOLD DEPOSITS* DISCOVERY OF THE IMPERIAL AREA MINERALIZATION DATES BACK TO THE LATE 1890'S WITH INITIAL PRODUCTION FIRST RECORDED IN THE EARLY 1900'S. THE HISTORICAL IMPERIAL MINE HAS SEEN INTERMITTENT PRODUCTION FROM THE EARLY 1900'S TO AS RECENTLY AS 2011. DETAILS OF THE TOTAL PRODUCTION DURING THE 1990'S THROUGH TO THE 2000'S BY THE CANNON FAMILY IS UNKNOWN. OPEN PIT AND UNDERGROUND MINING WERE CONDUCTED DURING THE PERIOD. GRIZZLY DISCOVERIES CARRIED OUT INITIAL GRAB SAMPLES IN 2022. THE GEOLOGICAL SETTING AND STYLE OF MINERALIZATION AT THE IMPERIAL MINE BEARS A STRONG RESEMBLANCE TO THE SETTING AT THE HISTORICAL MIDWAY MINE ABOUT 13.5 KM TO THE SOUTHEAST. 2022 GRAB SAMPLE** HIGHLIGHTS 22CCP275-1.505 G/T GOLD, 193 G/T SILVER * Buisson and LeBlanc, 1985, Ash and Arksey, 1990 ** Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may not be characteristic of the overall mineralization of the deposit as they are selective in nature. TSX.V: GZD | OTCQB: GZDIF | FWB: G6H • • • • • 22CCP276-4.166/T GOLD, 257 G/T SILVER 22CCP277-5.296/T GOLD, 503 G/T SILVER 22CCP278-7.32 G/T GOLD, 479 G/T SILVER 22CCP279-4.216/T GOLD, 1,670 G/T SILVER 22SLP227-4.216/T GOLD, 1,670 G/T SILVER • 22SLP228-11.05 G/T GOLD, 1,810 G/T SILVER 22SLP229-4.53G/T GOLD, 269 G/T SILVER 22SLP231-10.55 G/T GOLD, 637 G/T SILVER 22SLP232-6.966/T GOLD, 477 G/T SILVER 10#11SAPPHO EXPLORATION TARGET 2023 - HIGH COPPER POTENTIAL SELECTIVE GRABS UP TO 9% CU CU-AU PORPHYRY STYLE MINERALIZATION HISTORICAL PRODUCTION AT SAPPHO IS LISTED AS 102 TONNES BETWEEN 1916 AND 1918 YIELDING 5.6% CU AND 61.7 G/T AG, WITH SIGNIFICANT PT (NIXON AND ARCHIBALD (2001). THE 2022 EXPLORATION PROGRAM PROVIDED SIGNIFICANT TARGETS FOR FOLLOW-UP INDICATED BY HIGH-GRADE COPPER SAMPLES AT SURFACE. ANOMALOUS GEOPHYSICS HAVE ALSO OUTLINED MULTIPLE NEW TARGETS ACROSS THE SAPPHO PROJECT. THE 2023 EXPLORATION PROGRAM WILL LOOK TO DEFINE THESE TARGETS TO THE DRILL READY STAGE BUILDING OFF THE SUCCESS TO DATE. . 2022 EXPLORATION HIGHLIGHTS** A TOTAL OF 141 SAMPLES, MOSTLY GRABS, COLLECTED IN 2022, WITH 26 SAMPLES >1,000 PPM CU AND 17 SAMPLES >1% CU. MANY WITH ANOMALOUS AU, AG, PT AND PD AS WELL • FIVE (5) NEW SULPHIDE SHOWINGS WITH 4 OF 5 YIELDING >1% CU VALUES IN GRAB SAMPLES • THE 5TH NEW SHOWING NEAR THE US BORDER WITH MULTIPLE GRAB SAMPLES JUST UNDER 1% CU • ONE OF THE NEW SHOWINGS YIELDING UP TO 7.25% CU - A GRAB FROM THE MAIN SHOWING YIELDED 9.06% CU *Buisson and LeBlanc, 1985, Ash and Arksey, 1990 ** Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may not be characteristic of the overall mineralization of the deposit as they are selective in nature. TSX.V: GZD | OTCQB: GZDIF | FWB: G6H 11#12A PORTFOLIO OF PROJECTS FOR EXPLORATION AND JOINT VENTURE MOTHERLODE GOLD PROJECT ⚫HISTORICAL PRODUCTION • DRILLING:1.64 G/T AU AND 3.15 G/T AG ACROSS 14.85M CORE LENGTH ⚫ DRILLING: 6.07 G/T AU AND 15.13 G/T AG ACROSS 4.5 M CORE LENGTH • CU-AU PORPHYRY STYLE MINERALIZATION AND SKARN MODEL NEW PROJECT & DISCOVERY POTENTIAL SAPPHO PROJECT • DRILLING: WIDE ANOMALOUS AU-CU-AG-PT- PD INTERVAL OF 0.28% CUEQ OVER 93.5 M CORE LENGTH ⚫SURFACE ROCK GRAB SAMPLES: 8.28% CU, 27.1 G/T PT, 298 G/T AG, 2.2 G/T AU AND 2.57 G/T PD ⚫ TRENCH SAMPLES 2.67% CU, 0.48 % CO AND 1.93% CU, 0.06% CO OVER 6 M* ALASKA BRITISH COLUMBIA CANADA UNITED STATES ROBOCOP PROJECT • PREVIOUS HISTORICAL DRILLING HAS YIELDED 1.04% CU, 0.148% CO MEXICO CU-CO-AG OVER 2.0 M (2.9% CUEQ)* ⚫SULLIVAN STYLE, WORLD-CLASS DAYTON EAST PROJECT . CU-AU PORPHYRY STYLE MINERALIZATION GEOPHYSICAL ANOMALY (I.P.) PROSPECTIVE POTENTIAL ⚫ DRILLING: 51 M OF 0.43% AU (0.6% CUEQ) ⚫160,000 ACRES LAND PACKAGE ⚫PLANNING DRILLING AT NEW ACQUISITIONS MIDWAY AND IMPERIAL MINE TSX.V: GZD | OTCQB: GZDIF | FWB: G6H PROJECTS & TARGETS WITH NEW DISCOVERY POTENTIAL 12#13CONTACT INFORMATION BRIAN TESTO (CEO) T: (780) 712-3559 E: [email protected] NANCY MASSICOTTE, CORPORATE DEVELOPMENT T: (604) 507-3377 E: [email protected] JIM GREIG, DIRECTOR CORPORATE DEVELOPMENT T: (778) 788-2745 E: [email protected] TSX.V: GZD | OTCQB: GZDIF | FWB: G6H