EDMONTON, Alberta – February 6, 2008 – Grizzly Diamonds Ltd. (GZD:TSXV) (FRANKFURT:G6H) (“Grizzly”) today announces that the 2008 drilling program has commenced at its Buffalo Head Hills Diamond Project in Northern Alberta. The initial plans are to drill 8 to 10 targets during the upcoming winter drilling program in order to test for the presence of kimberlite. A minimum of four high priority geophysical targets will be tested at the Smoky The Bear Property and a minimum of four high priority geophysical targets will be tested at the Grand Cub Aidan Property. Ground geophysical surveying continues to prove up additional targets.
All Alberta government land-use and industry road use permits are in place in anticipation of the upcoming drilling program. APEX Geoscience Ltd. personnel have been mobilized to the field and are conducting road access clearing to the drill sites as well as continuing with ground geophysical surveys. Refined Energy Ltd. of Edmonton, Alberta has been retained to complete the drilling at the Smoky The Bear Property.
All 2008 field programs are being conducted under the supervision of Michael Dufresne, P.Geol., a principal of APEX Geoscience Ltd. and a Qualified Person under NI 43-101.
On behalf of the Board
Grizzly Diamonds Ltd.
/s/ “Brian Testo”
Brian Testo
President
This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact Brian Testo at 780-693-2242 or 780-425-BEAR(2327) . www.grizzlydiamonds.com
or
AGORACOM Investor Relations
Email: GZD@Agoracom.com
Website: www.agoracom.com/IR/Grizzly
