Grid Metals Corp. Announces Commencement of Cesium Drilling at Donner and Participation at PDAC Convention

Rhea-AI Summary

Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has commenced its cesium drilling program at the High-Grade Dyke at the Donner lithium/cesium property in southeastern Manitoba. The company has received an initial prepayment advance of CAD$300,000 from Tanco as part of their cesium supply agreement announced on February 18, 2025, which will fund the ongoing drill program.

Additionally, Grid invites shareholders and stakeholders to visit their Booth #2122 at the Prospectors and Developers Association of Canada (PDAC) Convention, running from March 2-5, 2025 at the Metro Toronto Convention Centre. The PDAC is considered one of the world's premier resources conferences.

Positive

• Received CAD$300,000 prepayment from Tanco for cesium supply agreement
• Commenced cesium drilling program at Donner property
• Company has both lithium and cesium assets in Manitoba

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 25, 2025 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to announce the start of the cesium drill program at the High-Grade Dyke at the Donner lithium/cesium property in southeastern Manitoba. Grid has also received the initial prepayment advance of CAD$300,000 from Tanco as a part of the cesium supply agreement to fund the ongoing drill program (see "Grid Metals Corp. Signs Cesium Agreement with Tanco" press release from February 18, 2025 for more information).

In addition, Grid would like to cordially invite its shareholders and other stakeholders to visit us at Booth #2122 in the Investors Exchange Exhibition Room at the Prospectors and Developers Association of Canada (PDAC) Convention. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, March 2, 2025 until Wednesday, March 5, 2025 at the Metro Toronto Convention Centre in Ontario, Canada.

To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025

We look forward to seeing you there.

On Behalf of the Board of Grid Metals Corp.

For more information about the Company, please see the Company website at www.gridmetalscorp.com or contact:
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@gridmetalscorp.com
Brandon Smith - Chief Development Officer - bsmith@gridmetalscorp.com
David Black - Investor Relations Email: info@gridmetalscorp.com

Qualified Persons Statements

Dr. Dave Peck, P.Geo., the VP 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 (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement with Teck Resources Limited ("Teck"). Teck can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$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% of the Mayville Property subject to a minority interest.

3. The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. Grid announced a cesium purchase agreement with Tanco on February 18, 2025.

4. The Falcon West Property (Li-Cs) is located 110 km 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% Cs₂O and 3.2 m at 4.6% Cs₂O.

All of the Company's southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the Company maintains an Exploration Agreement.

We seek safe harbour. This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include the Company's closing of the proposed financial transactions, sale of royalty and property interests. the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Grid Metals Corp.

View the original press release on accesswire.com

FAQ

What is the purpose of Grid Metals' drilling program at Donner property?

Grid Metals has started a cesium drilling program at the High-Grade Dyke at the Donner lithium/cesium property in southeastern Manitoba, funded by a CAD$300,000 prepayment from Tanco as part of their cesium supply agreement.

How much funding did Grid Metals (MSMGF) receive from Tanco for the cesium drilling?

Grid Metals received an initial prepayment advance of CAD$300,000 from Tanco as part of their cesium supply agreement announced on February 18, 2025.

When and where will Grid Metals be presenting at PDAC 2025?

Grid Metals will be at Booth #2122 in the Investors Exchange Exhibition Room at the PDAC Convention, running from March 2-5, 2025 at the Metro Toronto Convention Centre in Ontario, Canada.

What properties is Grid Metals (MSMGF) currently developing?

Based on the press release, Grid Metals is developing the Donner property in southeastern Manitoba, which contains both lithium and cesium resources.

When did Grid Metals announce its cesium supply agreement with Tanco?

Grid Metals announced its cesium supply agreement with Tanco on February 18, 2025, as referenced in the February 25, 2025 press release.