Grid Metals Corp. Announces Exploration Programs Underway

Rhea-AI Summary

Grid Metals (OTCQB:MSMGF / TSXV:GRDM) announced a completed financing for C$4,027,158, led mainly by a single strategic investor. The company has started a cesium-focused drill program at Falcon West, targeting the historical Lucy cesium zone with a planned minimum of 40 drill holes on a near-surface pegmatite system. Cesium was designated a critical metal in the recent Canadian federal budget.

At the Makwa Ni-Cu-PGE project, an Option and Joint Venture with Teck funds drilling and downhole geophysics at the newly identified Pavo Anomaly; surface grab samples returned up to 1.1% nickel and a drill rig has been mobilized. The board approved 7,200,000 stock options at $0.15 per share under the equity incentive plan for directors, management, employees and consultants.

Positive

• Financing completed for C$4,027,158
• Minimum 40 drill holes planned at Falcon West cesium target
• Makwa drilling funded by Teck and rig mobilized
• Surface grab samples up to 1.1% nickel at Pavo Anomaly

Negative

• Board approved issuance of 7,200,000 stock options at $0.15

TORONTO, ON / ACCESS Newswire / November 11, 2025 / Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) ("Grid" or the "Company") is pleased to provide a corporate update following the successful completion of a financing for aggregate gross proceeds of C$4,027,158. The majority of the financing came from one strategic investor making their first investment into Grid.

Falcon West Cesium Project - Drill Program

A cesium-focused drill program at Falcon West has commenced which is targeting the Lucy cesium zone that has seen historical high-grade cesium drill intercepts. This drill program marks the first concerted effort to define a discrete cesium zone at the property. Drilling will be focused on a near-surface pegmatite system which is known to host cesium mineralization. A minimum of forty (40) drill holes are planned. Cesium was designated a critical metal in the most recent Canadian Federal Budget and is utilized in a growing variety of high-tech applications. Currently, there are only a handful of known cesium projects with resources globally.

Makwa Nickel/Copper Project Update - Drilling Funded by Teck Resources

The Company's Makwa Ni-Cu-PGE project in southeastern Manitoba is subject to an Option and Joint Venture Agreement (the "Agreement") with Teck Resources Limited ("Teck")¹. The project is now permitted for exploration drilling and downhole geophysics at the recently identified Pavo Anomaly where prospecting led to the discovery of semi-massive nickel sulfide mineralization at surface (up to 1.1% nickel in grab samples)². The drill rig has been mobilized to site.

Grant of Incentive Awards

The Board of Directors has approved the issuance of 7,200,000 stock options at an exercise price of $0.15 per share (the "Incentive Awards") under the Company's Equity Incentive Plan. The issuance is to eligible directors, management, employees and consultants.

¹ See Grid's December 12, 2024 press release titled "Grid Metals Corp. Signs Agreement with a Major Mining Company to Fund the Makwa Nickel Project" for more information.
² See Grid's August 11, 2025 press release titled "Grid Metals Corp. Announces Grassroots Nickel Sulfide Surface Discovery at Makwa" for more information on the Pavo Anomaly.

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. The property is owned subject to a minority interest.

3. 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 2.2 m at 15.0% Cs₂O and 3.2 m at 4.6% Cs₂O.

4. The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project.

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.

On Behalf of the Board of Grid Metals Corp.

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

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 intended use of proceeds and receipt of regulatory approvals, 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.sedarplus.ca.

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 ACCESS Newswire

FAQ

How much did Grid Metals raise in the financing announced November 11, 2025 (MSMGF)?

Grid completed a financing for C$4,027,158, led primarily by one strategic investor.

What is the scope and target of the Falcon West drill program for MSMGF?

Falcon West has a cesium-focused program targeting the Lucy zone with a minimum of 40 drill holes on near-surface pegmatites.

What does the Makwa update say about Teck's role in Grid Metals (MSMGF)?

Makwa is under an Option and Joint Venture with Teck, which is funding drilling and downhole geophysics at the Pavo Anomaly.

What were the best surface nickel results at Makwa reported on November 11, 2025 (MSMGF)?

Surface grab samples at the Pavo Anomaly returned up to 1.1% nickel.

How many stock options did Grid Metals approve on November 11, 2025 (MSMGF) and at what price?

The board approved 7,200,000 stock options at an exercise price of $0.15 per share.

Will the Falcon West cesium program materially affect MSMGF's project timeline?

The company commenced drilling with a plan for at least 40 holes; the announcement confirms the program is underway.