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Grizzly Discoveries Inc. Reports Preliminary Results From Phase 2 Induced Polarization Program At Sappho Critical Minerals Target
Grizzly Discoveries Inc. had announced 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. 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. Phase 2 Sappho IP results extend the chargeability anomaly up to 600 m south and 800 m east and is open in both directions. 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. Along the west edge of the chargeability anomaly, there is moderate to strong anomalism with copper and gold in soils and in rocks. The Sappho Skarn Zone itself is peripheral to the strong chargeability anomaly. 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. 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. 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. The Company is continuing with surface exploration in the Greenwood area. Crews from APEX completed trenching and rock sampling in June at the Midway Mine area, as well as some follow up sampling at the Sappho Chargeability Target area. The 2026 exploration work is ongoing and includes prospecting and rock sampling at targets in the Motherlode area, the Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area and surrounding the Sappho. Additional groundwork including ground geophysical surveys are being planned and will comprise IP, magnetics and Loupe electromagnetics (EM) for the Sappho, the Midway and Motherlode areas. Drillhole and rock sampling results from the 2026 work are pending and will be released as they are received. The East and West Faults of the Toroda Graben likely played a role in controlling the Au-Ag mineralization for the Buckhorn Skarn and Mine to the southwest and the Cu-Au-Ag mineralization for the Motherlode/Greyhound skarns to the north. Skarn and porphyry style alteration and mineralization along with Cu-PGE's-Au-Ag are observed in outcrop and drill core along with a complex magnetic signature in the Main Sappho Skarn area. Five new sulphide showings were discovered during 2022 field work, with 4 of the 5 showings yielding rock grab samples with >1% copper (Cu) up to as high as 7.25% Cu. In previous sampling. A total of 17 rock grab samples returned values >1% Cu up to 9.06% Cu, many also with anomalous gold (Au), silver (Ag), platinum (Pt) and palladium (Pd). A total of 11 samples have yielded >500 parts per billion (ppb) Pt and Pd up to 4.64 grams per tonne (g/t) Pt and up to 2.28 g/t Pd. The Sappho area is being targeted for copper-gold skarn and porphyry type targets associated with a Jurassic alkalic intrusive complex and several younger diorite intrusions. A total of five new showings of copper oxide mineralization were found during the 2022 program. Previous surface sampling and drilling by Grizzly has yielded significant anomalous copper, gold, silver along with platinum and palladium. Numerous historical and new rock grab samples have yielded greater than 1% Cu, 1 g/t Au, 1 g/t Ag, 1 g/t Pt and 1 g/t Pd. Historical 2010 drilling by the Company (4 core holes) yielded up to 0.31% Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho (in hole 10SP03), including a 1 m core length intersections of 3.82 g/t Au and 199 g/t Ag, and in a separate sample 1.83 g/t Pt and 2.09 g/t Pd across 1 m - these results all are associated with >1% Cu in those samples. These higher grade zones were contained within a 63.5 m core length zone logged as a pyroxene - sulphide skarn with a grade approaching 0.7% copper equivalent derived from current metal prices for Cu, Au, Ag, Pt and Pd. Drillhole 10SP03 targeted a magnetic anomaly and had no indications of surface mineralization at the time of drilling. One of the new 2022 showings has been found proximal to drillhole 10SP03 and the targeted magnetic anomaly. The Company is continuing with surface exploration in the Greenwood area. Crews from APEX completed trenching and rock sampling in June at the Midway Mine area, as well as some follow sampling at the Sappho Chargeability Target area. The 2026 exploration work is ongoing and includes prospecting and rock sampling at targets in the Motherlode area, the Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area and surrounding the Sappho. Additional groundwork including ground geophysical surveys are being planned and will comprise IP, magnetics and Loupe electromagnetics (EM) for the Sappho, the Midway and Motherlode areas. Drillhole and rock sampling results from the 2026 work are pending and will be released as they are received.
