Mr. Robin Dunbar reports

GRID METALS CORP. REPORTS MAKWA PROJECT ADVANCING TO DRILL STAGE

Grid Metals Corp. has provided an update at its Makwa nickel project in southeastern Manitoba, where an option and joint venture agreement with Teck Resources Ltd. was announced in December, 2024. Teck can earn up to a 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.

Highlights:

• Aerial geophysical surveying has been completed at Makwa and has identified a number of high-priority geophysical anomalies interpreted to represent potential massive sulphide accumulations.
• Teck has confirmed its intention to advance the agreement through initial drilling of a high-priority target area with a phase 1 program of approximately 2,500 metres.
• Geophysical modelling and a massive sulphde targeting drill program are being finalized, with drilling planned to commence following receipt of applicable exploration permits. Several of the anomalies are associated with high-grade surface mineralization. For example, at the Ore Fault area, a 2024 grab sample of semi-massive sulphide in outcrop (No. 753459) assayed 5.97 per cent nickel and 0.45 per cent cobalt.

Robin Dunbar, Grid's chief executive officer and president, stated: "Over the past two years, Grid has completed the consolidation of the central portion of the Bird River greenstone belt, announced Teck as a strategic partner and has identified initial drill targets from the recently completed state-of-the-art geophysical survey. We are pleased that Teck has confirmed funding to test the preliminary drill targets identified to complete drilling as soon as possible. Following receipt and interpretation of the final geophysical data, we intend to provide a detailed update on the scope and objectives of the initial drilling program."

Completion of geophysical survey

A helicopter-supported time domain EM (electromagnetic) and magnetic survey was completed over the Makwa property. The survey was completed by Geotech Ltd. using its 30-hertz VTEM (versatile time-domain electromagnetic) Max system. A total of 1,192 line kilometres were completed in two blocks. In addition, Geotech completed test flights totalling 245 line kilometres over a portion of the primary survey area using a new 15-hertz system.

Geophysical modelling and drill program

A detailed evaluation of the new geophysical results is under way. This review will define the initial drill targets and guide fieldwork planning and permitting efforts over the coming weeks. Grid and Teck have formed a technical committee to review and approve work plans and budgets for the project. The two parties expect to enter into a technical services agreement to govern Grid assuming the role of manager. Details of the first-year exploration plan are expected to be released over the next few weeks. Depending on permitting and logistics, drilling on one or more priority EM anomalies is likely to commence toward the end of the summer.

Qualified person statement

Dr. Dave Peck, PGeo, 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.

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 up to a 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 southern arm of the Bird River greenstone belt.

The Mayville property (copper/nickel) is located on the northern arm of the Bird River greenstone belt. The property is owned subject to a minority interest.

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.

The Falcon West property (lithium/cesium) 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 metres at 10.3 per cent Cs2O (cesium oxide) and 3.2 metres 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.