Grizzly Gold Corp.

During the nine months ended January 31, 2013 we issued 250,000 shares of our common stock for $25,000 cash. In addition to the shares, investors received 250,000 warrants convertible into common stock at $0.10 per share expiring in August 2015.

During the nine months ended January 31, 2014 a significant shareholder and Director paid operating expenses on behalf of the Company totaling $5,000. As of January 31, 2014 the entire $5,000 remained due and outstanding and is included in accounts payable in the accompanying balance sheet.

The Company's Board of Directors has approved a budget for total Property related expenditures of $378,000 for the next twelve months. The budget includes the following items:

- $122,000 for operating expenses, including working capital and general, legal, accounting and administrative expenses associated with reporting requirements under the Securities Exchange Act of 1934.

We are currently in the process of obtaining additional funds through private placements of our common stock and warrants. Our current cash resources are not sufficient to fund our planned operations for the next twelve months. In order to continue to explore and develop our property we will need to obtain additional financing. Management continues to seek additional capital through private placements and public offerings of its common stock, although there are no assurances that management's plans will be realized.