COBALT REVIEW

During late 2017, the Company performed an initial review to see if its land holdings were prospective for the presence of cobalt (Co). The strategic review identified the presence of at least 13 rock grab samples with greater than 0.05%, including up to 0.10% Co, from at least five separate target occurrences across the eastern half of Grizzly's Greenwood Project area. The database shows an additional 31 rock grab samples that have yielded assays of between 0.02 and 0.05% Co. Maps showing the anomalous values and locations for Co at the Greenwood Project:

A preliminary review of the sample database indicates that many of the rock samples with anomalous Co also contain anomalous values for Cu and precious metals including Au and Ag. In many cases, the samples with anomalous Co were collected from Cu-enriched skarn and hornfels developed in Paleozoic sediments and intrusions, where the original sampling targeted precious metals. Grizzly has initiated a property wide review, including its extensive soil and drillhole database along with much of the historic data for the district that it has compiled over the years. The goal will be to target potential Co-Cu-Au-Ag mineralization associated with skarn across the district and come up with targets for follow-up exploration during 2019.

Greenwood West Cobalt in Rocks

Greenwood East Cobalt in Rocks