Grizzly updates Buffalo Head Hills diamond properties

Grizzly Diamonds Ltd., an aggressive Canadian exploration company focused on exploring for diamonds in Alberta and precious metals in North America, provides the following exploration update for a number of its 100% owned Alberta Diamond Properties in the Buffalo Head Hills of Northern Alberta.

The company has completed full airborne coverage over all Grizzly Alberta diamond land, which is more than 2 million acres. The company hopes prospective for diamonds with the completion of a final 42,000 line-km high resolution fixed-wing airborne magnetic (HRAM) survey at the Grand Cub Parker, Bearpaw, Kodiak and the Preston Upon Wolverine properties in May, 2008.

Final data was received in July, 2008. Preliminary interpretation has identified a large number of magnetic anomalies that are suggestive of kimberlites. An aggressive ground geophysical program is being planned for the fall followed by drilling during winter 2008-2009.

Grizzly currently holds four diamond properties in Alberta totaling approximately 3 million acres which host prospective geophysical targets and associated diamond indicator minerals. Grizzly also holds four precious-base metal properties in British Columbia totaling over 23,000 acres.

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