Mr. Robin Dunbar reports

GRID METALS CORP. ANNOUNCES GRASSROOTS NICKEL SULFIDE SURFACE DISCOVERY AT MAKWA

Grid Metals Corp. has provided an update at its Makwa Ni-Cu-PGE (nickel, copper and platinum group element) project in southeastern Manitoba, where an option and joint venture agreement with Teck Resources Ltd. was announced in December, 2024. The target model is a footwall-hosted Ni-Cu-PGE deposit similar to the Eagle's Nest deposit (1), located in Ontario's Ring of Fire mineral district. Initial exploration, completed under the new option and joint venture agreement, has led to the discovery of semi-massive nickel sulphide mineralization at surface (up to 1.1 per cent nickel in grab samples) (see the attached table) associated with a recently identified geophysical anomaly (Pavo) in a previously unexplored part of the Makwa property. The Pavo anomaly is now a priority drill target with drilling anticipated to commence in the fall of 2025.

Dr. Dave Peck, the company's vice-president of exploration, stated: "The new discovery of nickel-rich magmatic massive sulphide mineralization at Pavo is significant given its location in an interpreted feeder structure to the Bird River sill -- host to most of the known Ni-Cu-PGE sulphide mineralization in the Bird River belt. Importantly, the Pavo conductor trend is contained within a large magnetic anomaly that suggests a large volume of prospective ultramafic rocks are present in the broader target area. Our view, shared by federal and provincial government geoscientists (2), is that the Bird River belt is strongly analogous to the Ring of Fire district in Northwestern Ontario, where a significant Ni-Cu-PGE deposit at Eagle's Nest was discovered in 2007. The potential to participate with Teck in the discovery of an Eagle's Nest-type sulphide deposit is an exciting opportunity for Grid."

The Pavo anomaly: a new grassroots nickel sulphide surface discovery in the footwall of the Bird River sill

The Pavo anomaly is a shallow electromagnetic (EM) conductor trend that has a strike length of approximately 600 metres (m) in east-west extent that was outlined from an airborne geophysical survey completed in late 2024. The company completed reconnaissance geology in the area and one day of field prospecting at the Pavo anomaly (Blaze showing) before forest fires restricted access to the area. Nonetheless, the initial day of prospecting led to the discovery of semi-massive sulphide mineralization in soil-covered bedrock located directly on the eastern part of the Pavo anomaly. Initial grab samples taken from this new showing returned peak nickel grades of up to 1.1 per cent hosted by semi-massive magmatic sulphide mineralization (see the attached table).

(1) The Eagle's Nest deposit in the McFauld's Lake greenstone belt of Northwestern Ontario is an established, high-grade magmatic nickel sulphide resource that is owned by Wyloo Canada. See the Wyloo website for more information about the Eagle's Nest deposit.

(2) Geological Survey of Canada open file report 8722, 2020.

Next steps

Additional prospecting recently commenced following the lifting of fire restrictions in the area. A follow-up deep-penetrating ground time-domain EM geophysical survey is also planned to further define initial drill targets. Drilling at Pavo is planned to commence this fall, pending receipt of applicable exploration permits.

The principal objective of the continuing exploration program is to fully explore the Makwa property for high-grade massive Ni-Cu-PGE sulphide deposits located in structural favourable sites, including structural traps along the base of the Bird River sill and within interpreted feeder structures to the sill. Pavo is expected to be the first major anomaly to be drill tested. However, there are numerous other untested, coincident magnetic and EM anomalies that are currently being mapped and prospected that could become priorities for future drilling campaigns.

Quality assurance and quality control

Grid Metals applies best practice quality assurance and quality control (QA/QC) protocols in all of its exploration programs. For the Pavo prospecting program, grab samples were cleaned of obvious weathering and bagged and tagged in the field. The samples were then transported by secure carrier to the Actlabs (Thunder Bay) laboratory for sample preparation and analysis for nickel, copper, cobalt, and selected major and trace element abundances, using a multiacid digestion method followed by ICP-OES (inductively coupled plasma optical emission spectroscopy) analysis. Samples were also analyzed for Pd (palladium), Pt (platinum) and Au (gold) using a lead collection 30-gram fire assay method followed by ICP-OES analysis. The company is using several different certified reference materials (CRMs) and one analytical blank for the Makwa project to monitor analytical accuracy and check for cross-contamination between samples. The analytical results for the CRMs and the blank for the new analytical results reported here did not show any significant bias compared with the certified values and fell within the acceptable limits of variability.

Qualified person statement

Dr. Dave Peck, PGeo, the vice-president of exploration of Grid, is the qualified person for purposes of National Instrument 43-101, and has reviewed and approved the technical content of this news 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 (Ni-Cu-PGM-Co (nickel, copper, platinum group metal and cobalt)) is subject to an option and joint venture agreement with Teck. Teck can earn up to a 70-per-cent interest in Makwa by incurring a total of $17.3-million (Canadian), comprising project expenditures ($15.7-million (Canadian)) and cash payments or equity participation ($1.6-million (Canadian)) with Grid. Makwa is located on the south arm of the Bird River greenstone belt.
2. The Mayville property (Cu-Ni (copper and nickel)) is located on the north arm of the Bird River greenstone belt. The property is owned subject to a minority interest.
3. The Falcon West property (Li-Cs (lithium and 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 2.2 metres at 15.0 per cent Cs2O and 3.2 metres at 4.6 per cent Cs2O.
4. The Donner property (Li-Cs (lithium and 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.

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.

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