Grizzly Discoveries Inc. announced that it has entered into a purchase agreement with First Majestic Silver Corp. to acquire the Motherlode Crown Grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900s produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings. The Motherlode Crown Grants comprise 13 Crown Grants that all retain the subsurface mineral rights and date back to the late 1800s early 1900s when they were granted.

The Crown Grants cover a number of historical mines, including the Motherlode Mine that produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments. The Motherlode mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood in British Columbia.

The Company will cover all costs related to the transfer of the Crown Grants from First Majestic to the Company. As consideration, Grizzly will issue First Majestic 250,000 common shares of the Company (the "Consideration Shares") upon closing of the transaction. At closing, the Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic and retains an option to purchase the NSR Royalty for $250,000 at any time.

The issuance of the Consideration Shares is subject to the acceptance of the TSX Venture Exchange.