Mr. Tim Fernback reports

GRID BATTERY METALS ANNOUNCES THE GEOPHYSICS RESULTS FROM PHASE 1 OF ITS EXPLORATION PLAN AT THE TEXAS SPRINGS NEVADA LITHIUM PROJECT

Grid Battery Metals Inc. has released the completed geophysics results from the first phase of its fall exploration program at its Texas Springs property near Elko, Nev.

Phase 1 exploration program recap

At the Texas Springs lithium project, the company contracted the services of Rangefront Geological to perform both a detailed soil sampling on a 50-metre-by-100-metre spacing and to oversee a CSAMT (controlled-source audio-frequency magnetotelluric) geophysical survey performed by KLM Geoscience. The CSAMT survey is a method for obtaining information about subsurface resistivity and geology, which can help predict geological structure and interfaces of potentially lithium-bearing geologic units, while the detailed surface sampling will allow the company to determine lithium values at surface.

Together these geological techniques should help predict geological structure and possible locations of historic lithium accumulation. This is part of a methodical and systematic approach to high-quality mineral exploration for this highly sought-after metal in Nevada and will assist the company in determining next steps for the overall exploration plan, including but not limited to a subsequent drilling program.

Soil sample grid completed

CSAMT geophysical survey results

While the results from the associated soil sampling program are expected next week once the company's geological team completes their review of the data, the results from the CSAMT geophysical survey are as follows:

Seth Cude, PG, Grid's qualified person, comments on the results of the program: "The CSAMT survey shows several near-horizontal to gently dipping subsurface horizons which may have served as paleo accumulation basins, collecting lithium-bearing clays. Tieng these subsurface structures to the surface soil analysis will provide excellent drilling targets."

Tim Fernback, Grid president and chief executive officer, comments: "Rangefront is a company that our geological team members have used several times in the past for lithium exploration work in Nevada for both Grid and other companies that we have managed in the past, including Surge Battery Metals and Fuse Battery Metals. Geophysical surveys and soil sampling is part of a methodical and systematic approach to high-quality mineral exploration for claystone lithium deposits in Nevada and will allow us to select drill targets for subsequent exploration programs in the future."

Texas Spring property location

Of note, the Texas Springs lithium property adjoins the southern border of the Nevada North lithium project -- owned by Surge Battery Metals. Surge's first round of drilling identified strongly mineralized lithium-bearing clays. The average lithium content within all near-surface clay zones intersected in the 2022 drilling program, applying a 1,000 ppm (parts per million) cut-off, was 3,254 ppm. On Sept. 12, 2023, Surge announced some exciting results of its most recent drilling program at this property, and recorded its highest grades to date, with up to 8,070 ppm lithium on the Northern Nevada lithium project. These results were followed up on Dec. 5, 2023, with a subsequent drill program yielding core drilling intercepts with assays over 7,630 ppm and multiple horizons upon deeper drilling performed.

Mr. Fernback comments: "Now that the CSAMT geophysical survey is complete at Texas Springs, and once we analyze the results from the assay lab on our detailed soil sampling in the area, we will gather as a group to interpret the geological data and plan our next steps at Texas Springs for the upcoming 2024 exploration season."

Qualified person

Mr. Cude, PG, is a qualified person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.

About Grid Battery Metals Inc.

Grid Battery Metals is a Canadian-based exploration company whose primary listing is on the TSX Venture Exchange. The company maintains a focus on exploration for high-value battery metals required for the electric vehicle (EV) market.

We seek Safe Harbor.