Mr. Robin Dunbar reports

CORPORATE AND CESIUM PROJECT UPDATES

Grid Metals Corp. has provided a corporate update, including the appointment of a new chief financial officer and the completion of an updated transaction with revised terms resulting in an improved working capital position. The company remains focused on its high-potential critical metal projects in southeastern Manitoba, including recently announced transactions with Tantalum Mining Corp. of Canada Ltd. (for cesium) and with Teck Resources Ltd. (nickel, copper and platinum group metals).

CFO and improvement to working capital

Arif Shivji, CPA, MBA, CFA, has joined Grid as the chief financial officer. Mr. Shivji is a seasoned financial professional experienced in financial management and public company reporting. He has 27 years of related work experience, which includes extensive interaction with public exchanges and involvement with public companies in various entrepreneurial and management roles.

The company would like to sincerely thank the previous CFO, Doug Harris, for his steady contributions to the company and wishes him well in his new role in the cryptocurrency industry.

To improve its financial position and reduce future spending commitments, the company has amended the Bisset gold facility lease agreement, reducing the remaining payments from $510,000 to $400,000 and waiving its right to use the facility in the future to process materials from the Donner lithium property. Grid also has the option to pay $100,000 of the $400,000 in Grid shares, subject to regulatory approval. Grid's current working capital position (cash, receivables and securities less the $400,000 in commitments above) is $900,000 ($480,000 in cash and marketable securities held by the market marked to market as of March 7, 2025).

The company also notes that exploration expenditures for its Makwa and Donner projects are currently being financed by its industry partners. (See the press releases dated Feb. 18, 2025, "Grid Metals Corp. Announces Cesium Deal with Tanco," and Dec. 12, 2024, "Grid Metals Corp. Signs Agreement with a Major Mining Company to Fund the Makwa Nickel Project.")

Cesium projects update

Donner cesium drilling

Grid has completed 28 diamond drill holes totalling 827 metres targeting the near-surface portion of the high-grade dike at its 75-per-cent-owned Donner lithium-cesium property in the Bird River greenstone belt of southeastern Manitoba. The drilling was financed by the Tantalum Mining Corp. of Canada Ltd. under a recently announced toll processing agreement (see Grid's Feb. 18, 2025, news release for details). The holes tested the HG dike along a strike length of 200 metres to a maximum vertical depth of approximately 40 metres. Most of the holes intersected the dike beneath and north of the main surface outcrop of the dike. A select composite surface grab sample from the HG dike taken in 2024 returned 17.5 per cent Cs2O associated with coarse-grained pollucite. The new drilling results combined with two deeper holes completed last winter confirmed that the dike has a minimum vertical depth extent of greater than 100 metres and extends at least 150 metres to the north of the main outcrop area. The new drilling encountered local spodumene- and lepidolite-rich subzones within an approximately one-metre-thick, highly fractionated LCT-type pegmatite. The company is preparing core samples from this program for rare metal analysis and quantitative mineralogical studies. The latter will determine if the cesium-rich mineral pollucite (the preferred feedstock for Tanco's cesium plant, located approximately 30 kilometres south of the Donner property), is present in the near surface portion of the HG dike tested by drilling.

Following the receipt of assays and the results from the mineralogical analysis, the company will determine its future plans for the HG dike.

Falcon West cesium

As part of its current cesium initiative, the company has submitted an exploration permit application for its 100-per-cent-owned Falcon West lithium-cesium project. Falcon West hosts numerous high-grade cesium drill intercepts from drilling campaigns in 2001, 2012 and 2024. Most of these intercepts occur in a 250-metre-long trend at the southern end of the approximately 10-metre-thick and highly fractionated Lucy South LCT pegmatite. Highlights from previous drilling within this trend, as described in previous company news releases, include:

• 3.20 metres with 4.56 per cent Cs2O in hole ADL24-09 (from 19.9 metres) including 0.65 metres with 11.7 per cent Cs2O;
• 6.68 metres with 1.30 per cent Cs2O in hole LU-12-1 (from 17.2 metres) including 0.79 metre with 7.59 per cent Cs2O;
• 8.37 metres with 4.12 per cent Cs2O in hole LU12-2 (from 25.7 metres) including 3.28 metres with 10.3 per cent Cs2O with 2.18 metres averaging 13.7 per cent Cs2O;
• 1.85 metres with 3.25 per cent Cs2O in hole EOB01-9 (from 21.1 metres).

Note: The above intercepts range from 80 to 100 per cent of estimated true width.

The targeted Lucy South pegmatite is predominantly flat lying and, where intersected by drilling, occurs from surface to no more than a 40-metre vertical depth. The company plans to release an updated, integrated exploration plan for the Falcon West property and a new Lucy South cesium drilling program in the next several weeks.

Robin Dunbar, Grid's chief executive officer and president, stated: "In the past several months, we have completed two significant transactions with key industry leaders (Teck Resources and Tanco) focused on key critical metals. Looking ahead, we will have multiple high-potential exploration programs under way in 2025. Our priority projects are geographically focused in southeast Manitoba and provide multicommodity optionality. We look forward to further positive developments being generated from these projects as we continue down the path to developing a critical metals production hub in the region."

Qualified person statements

Dr. Dave Peck, PGeo, the vice-president, exploration, of Grid, is the qualified person for purposes of National Instrument 43-101, and has reviewed and approved the technical content of this release.

About Grid Metals Corp.

Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the Bird River area:

1. The Makwa property (nickel-copper-platinum group metals-cobalt), which is subject to an option and joint venture agreement with Teck Resources. Teck can earn an up-to-70-per-cent interest in Makwa by incurring a total of $17.3-million, comprising project expenditures ($15.7-million) and cash payments or equity participation ($1.6-million) with Grid. Makwa is located on the south arm of the Bird River greenstone belt.
2. The Mayville property (Cu-Ni) is located on the north arm of the Bird River greenstone belt. Grid owns 100 per cent of the Mayville property subject to a minority interest.
3. The Donner property (lithium-cesium) is adjacent to the Mayville property, and Grid owns 75 per cent of the project. Grid announced a cesium purchase agreement with Tanco on Feb. 18, 2025.
4. The Falcon West property (Li-Cs) is located 110 kilometres east of Winnipeg along the Trans-Canada Highway and contains highly anomalous cesium values in a number of historical drill holes, including 3.3 m at 10.3 per cent Cs2O and 3.2 m at 4.6 per cent Cs2O.

All of the company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation, with which the company maintains an exploration agreement.

We seek Safe Harbor.