MIDWAY

Grizzly Discoveries optioned the mineral rights to 317 hectares in seven (7) mineral claims in the Greenwood area, BC including the historical Silver (Ag)-Gold (Au)-Lead (Pb)-Zinc (Zn) Midway Mine and the Picturestone Quarry, which are about 4 km northwest of the town of Midway in the Kettle River Valley area of BC. The Midway – Picturestone mineral claims are strategically located within the Company’s Greenwood land holdings and in particular the Company’s Midway lands.

The Midway Mine and the Picturestone (aka Picture Rock) Quarry area have seen intermittent exploration and mining since the late 1800’s through to as recent as 2012. In the case of the historical Midway Mine, limited underground and open pit development has occurred. The Midway Mine and the Picturestone Quarry are situated within the “Midway Window”, a structural zone within the Toroda Graben exposing Late Paleozoic to Jurassic sediments, volcanics and intrusions, including the Knob Hill and Brooklyn formations, centered on an old thrust fault in a similar setting to the Golden Crown and Lexington Mine area near Greenwood, BC.

Highlights from 2022 Exploration Program on the Midway Mine:

• A total of 18 additional and new selective rock grab and composite rock grab samples from outcrop collected from the Midway Mine-Picturestone area, with 8 of 18 rock grab samples from outcropping mineralization in the Midway Mine area yielding a range of 0.119 grams per tonne (g/T) gold (Au) up to 12.85 g/T (or 0.375 ounces per ton [opt]) Au.
• Three (3) of the 18 new selective rock grab samples from the Midway Mine area yielded from 248 g/T silver (Ag) (7.2 opt Ag) up to 2,700 g/T Ag (78.8 opt Ag), with highly anomalous and associated lead (Pb), zinc (Zn), copper (Cu), arsenic (As) and antimony (Sb).
• All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins and altered wall rock that display the presence of Pb, Zn, Cu, As and Sb, and are likely epithermal in nature. Mineralized veins with northwest and northeast orientations were noted.
• Host rocks are altered with disseminated sulphide and are likely altered sedimentary rocks to altered intermediate intrusions including quartz-feldspar porphyry and diorite.
• A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/T Au (0.462 opt Au) and 1,530 g/T Ag (44.6 opt Ag), illustrating that there is potential for additional high grade mineralization in the area.

Selected geochemical highlights for 12 rock grab samples* collected in the Midway Mine area.

_{*Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may or may not be characteristic of the overall mineralization of the deposit as they are selective in nature.}

IMPERIAL MINE

Discovery of the Imperial area mineralization dates 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. According to the BC Government minfile records the historical Imperial Mine produced a little over 9,200 oz of silver and more than 20,000 pounds each of lead and zinc. The production records cover the period from 1914 to 1949 (BC MINFILE 082ESE113). 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.

The historical Imperial Mine, is located on the eastern margin of the Kettle River, is underlain by a complex north-trending graben that exposes Paleozoic metasedimentary and metavolcanic rocks, which were later intruded by Jurassic diorite and granodiorite suites. Extension in the hanging wall terrane on the western margin of the Grand Forks complex led the formation of north-trending grabens and later, to favourable mineralization in the area. In the Eocene, alkalic intrusives, namely megacrystic granites and the Coryell intrusive suite and Eocene and younger coarse sediments and alkalic volcanic rocks filled these grabens. This led to localization of both base- and precious-metal deposits in the area (Höy, 2016).

At the Imperial Mine, the property is bounded to the north and south by the Nelson intrusions, consisting of granodiorite, porphyritic granite and diorite. In some locations, these cut the ultramafic rocks. The east is bordered by the Phoenix Volcanic Group of andesite and basalts. The west is predominantly drift covered in the vicinity of the property (Larabie, 1987). As exposed in the underground workings, mineralization is hosted in magnesium-iron rich carbonitized and silicified ultramafics along with sheared and sericitic greenstones and metasediments of the Upper Paleozoic Anarchist and Knob Hill Groups (BC MINFILE 082ESE113). In the early days of exploration, the mineralized rock was described as altered dolomitic sediment associated with abundant quartz and calcite, which had been altered by a green-coloured mineral, most likely chlorite and/or chromium mica or listwanite (Sloan, 1926).

The economic minerals of interest are mainly galena, sphalerite, and pyrite, all of which contain gold and silver. Mineralization occurs primarily in the carbonates as pods or lenses, and lesser as quartz sulphide veins and banded sulphides. These sulphides are confined to narrow quartz veins (0.3 – 1.0 m wide), along with some thicker pods which vary in dip from 20° to 80°. Precious-metal grades vary considerably throughout the underground workings as shown by assay maps from various exploration activities (e.g., 1925 and 1984) (Larabie, 1987).

Some gold occurs with the silver in the sulphides, along with pyrite and arsenopyrite but gold is also known to occur in a steep set of fractures with quartz veining that cuts orthogonally across the more flat-lying banded sulphide pods.  The gold content increases as the fractures trend toward a Eocene Coryell intrusive, a couple of km to the east of the open pit.

The Imperial Mine target area is 815 ha (2,015 acres) and includes the Riverside Past Producer and Commonwealth showing north of the Imperial Mine. At Riverside, underground workings show that Ag-Pb-Zn+/-Au mineralization is also hosted in the metasedimentary rocks of the Upper Palaeozoic Anarchist and Knob Hill Groups. Polymetallic (Ag-Pb-Zn+/-Au) mineralization occurs in veins and along shears. The historical mine produced nearly as much silver as the Imperial Mine (BC MINFILE 082ESE114). At the Commonwealth showing, about 500 m northeast of the Riverside Past Producer, mineralization consists of pyrite, galena, sphalerite, and mariposite within 0.20 to 2 m wide quartz veins. These vein systems can be divided into two sets: one that strikes north-easterly and dips to the south, and the second, which also strikes north-easterly, but dips flatly to the southeast (BC MINFILE 082ESE115).

Limited Intermittent exploration, including some trenching, diamond drilling and small open pit mining has been conducted over the last 50 years in particular at the historical Imperial Mine. The Company plans to conduct reconnaissance exploration leading to more detailed exploration including additional surface sampling, ground geophysics, potentially underground sampling and eventually drilling and at the Imperial Target area during the upcoming 2023 field season.

The Company announced results from grab samples collected at the historical Imperial Mine, with the following highlights:

• A total of 83 new selective rock grab and composite rock grab samples collected from a number of outcrops across the 815 hectare (2,015 acre) Imperial Mine target area.
• A total of 10 of the 83 rock grab samples from outcropping mineralization yielding a range from 193 g/t silver (Ag) up to 1,810 g/t Ag (or 5.63 opt up to 52.8 opt Ag) and 1.41 g/t Au up to 11.05 g/t Au.
• The 10 new selective high-grade Ag-Au bearing rock grab samples from the historical Imperial Mine area were collected from five discreet areas of mineralization in and around the historical mine workings including from outcrop and underground.
• All highly anomalous samples are characterized by the presence of abundant and visible pyrite, galena and sphalerite in quartz veins and/or pods of silicified metavolcanic or metasedimentary rocks (Greenstones). The mineralization can be described as polymetallic veins and altered wall rock that display the presence of silver, gold, lead, zinc and minor copper and it is likely metasomatic in nature. Granodiorite and diorite intrusions have been noted nearby.
• High levels of chromium and nickel reflect the presence of altered ultramafic rocks with serpentine-carbonate alteration and commonly identified as listwanite.
• The Imperial showings, including the veins and pods of mineralization in the underground, line up north-south to northwest-southeast and are potentially associated with a thrust fault that is broken and somewhat lined up along a north trending structure near the eastern edge of the Rock Creek Graben or the western edge of the Toroda Graben.
• The grabens are characterized by north-northeast trending normal faults.
• 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.
• The Company is planning surface and underground rock and soil sampling, mapping, ground geophysical surveys and eventually drilling.

Selected geochemical highlights for 24 rock grab samples* collected from the Imperial Mine area.

_{*Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may or may not be characteristic of the overall mineralization of the zone sampled as they are selective in nature.}

KET 28

The Ket 28 gold target is located in a road accessible, proven and prolific area, adjacent to the US border in south-central British Columbia, Canada.

Highlights for 2022 soil and rock sampling program at the Ket 28 prospect:

• First significant systematic regional sampling program with more than 1,000 soil samples collected in a 100 m by 200 m grid pattern and analyzed for gold and multi-elements using a partial extraction ionic leach method at ALS Global in Vancouver, BC
• New anomalous gold zones in soils identified immediately southwest of the main Ket 28 showing along with at least four new areas of anomalous gold in soils identified in an area that is about 2.5 km south of Ket 28 and is over 5 km in length and roughly 1.2 km wide up against the US border
• A total of 129 rock grab samples collected across the Ket 28 area with up to 1.5 g/t gold from a sample within the southern anomalous gold in soil area
• Numerous northwest and northeast controlling structures within Paleozoic Anarchist volcanic (green) clastic and calcareous sedimentary rocks (orange and blue) along with a number of small to large sized Cretaceous to Eocene (pink) intermediate to felsic intrustions are visible in outcrop and in the geophysics

Ket 28 Drillholes, 2022 Rock & Soil Samples, Rock Creek Geology

Ket 28 Drillholes, 2022 Rock & Soil Samples, Rock Creek Magnetics

2020 Drill Program Gold Target Highlights:

• Results from the last nine holes intersecting broad, near surface gold mineralization. Key intervals include 0.92 grams per tonne (g/t) gold (Au) over 14 m from 27 m including 4.53 g/t Au over 2 m, (20KT14) and 0.48 g/t Au over 11.84 m from 20.16 m) including 3.6 g/t Au over 1 m from 20.16 m (20KT13) (Table 1).
• Results from the first six holes intersecting broad, near surface gold mineralization. Key intervals include 1.59 g/t Au over 17.8 m from 43 m including 7.37 g/t Au over 3.08 m, (20KT02) and 0.77 g/t Au over 31 m from 54.5 m) including 1.42 g/t Au over 11.5 m from 61 m (20KT04) (Table 1).
• The Ket 28 Target remains open with multiple zones to below a 125 metre vertical depth towards an underlying and potentially larger porphyry type feature represented by a large 1 km by 2 km geophysical anomaly;
• All drill-holes intersected variable amounts of sericite-pyrite alteration with quartz veins and silicification hosted in a sedimentary schist, mafic volcanic to basalt package of rocks;
• Drilling has expanded the volume and extent of gold mineralization at surface and to depth, with a strike length of greater than 500 m, a width of about 100 m and multiple near flat lying zones intersected from surface up to a depth 125 m depth
• Diamond drill program consisted of 1,975m in 15 drill holes

Ket 28 2020 Drill Hole Locations

The Company conducted an exploration program in 2009-2010 consisting of rock and HMC sampling, ground geophysics, and a nine diamond drill hole program. Rock samples near the Ket 28 prospect in the Rock Creek Block yielded assays up to 53.2 g/t Au. A ground magnetics and horizontal-loop electromagnetic (“HLEM”) survey was completed over the Ket 28 prospect and indicated the presence of a northwest oriented structure and a large magnetic anomaly of which the Northwest edge is associated with Au mineralization. Drilling at the Ket 28 target indicates the presence of wide zones of hydrothermal Au-Silver (“Ag”) associated with extensive alteration along a northwest structure. The best drill intersections obtained during the Company’s exploration work are 11.9 g/t Au across 2.0 m core length and 8.85 g/t Au across 3.0 m core length.

Planned exploration for the Ket 28 includes a program of up to 11 drill holes, with the focus to develop a maiden resource.